NEM is a cryptocurrency launched in 2015, specifically designed for transaction processing, seeking to compete with online payment processors.
al code. XEM is the currency used on the NEM blockchain, similar to how Ether is to Ethereum.
Differing from most other blockchains, NEM does not have miners, but instead has “harvesters”.
In order for someone to be a harvester, they need to hold a certain amount of XEM, and are paid in transaction fees for generating new blocks.
The NEM blockchain software has been adopted and adapted to create private blockchains for commercial entities. Removing the public features of the blockchain has shown to dramatically increase the number of transactions it is capable o.
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