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About NEM
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Launch Date:
March 2015 -
Features:
- User-defined tokens (mosaics)
- Namespaces
- Multisignature accounts
- P2P reputation system based on EigenTrust++
- Proof-of-importance consensus mechanism
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Global Community:
Active in Japan with social media apps built on top of NEM -
Hard Fork:
December 2021, titled Harlock, aiming to make NEM a leading payments platform
About NEM: Empowering a Decentralized Economy
Introducing NEM: A Pioneering Blockchain Ecosystem
NEM, a pioneering blockchain platform launched in March 2015, aimed to address the shortcomings of its contemporaries. As one of the first non-Turing complete chains, it introduced innovative features such as user-defined tokens (mosaics), namespaces, multisignature accounts, and a peer-to-peer reputation system based on EigenTrust++. Notably, NEM’s proof-of-importance consensus mechanism sought to incentivize on-chain activity and mitigate the wealth concentration often associated with proof-of-stake. The platform’s client, NIS, is built using Java.
NEM boasts a thriving global community, where it is widely recognized as a viable alternative payment method for businesses and vendors. Moreover, its versatility has inspired the development of various social media applications in Japan, including nemgraph, a community-driven, user-owned, and operated platform that serves as a compelling alternative to Instagram.
In December 2021, a pseudonymous team of cryptocurrency experts and enthusiasts orchestrated a hard fork of NEM, dubbed Harlock. This pivotal event marked a community-driven initiative to revitalize NEM, transforming it from a faded version of its former self into a premier payments platform for both on-chain and off-chain media content.