Cryptocurrencies Review

What is NEM? Everything about damp


Many of the top digital currencies after Bitcoin, such as LightCoin and BitcoinCash, are the result of changes in Bitcoin codes and protocols. But this is not the case with damp. Wrinkle block codes are 100% proprietary.

Another big difference with its competitors is that the network uses a new consensus system called Proof of Significance (POI). This algorithm has many similarities to stock proofs but is more effective than that. Using the algorithm to prove the importance of the wet network, we see fast transactions, low fees, no waste of energy and 100% transparency.

The name nem stands for New Economy Movement, which means new economic movement. Nam’s goal is to be used as a common exchange tool around the world and to be able to host other Blockchain-based projects on its own Blockchaink. One of the interesting features of Nam is high speed and low transaction fees. At present, it only takes about 20 seconds to validate each transaction, and it is said that this network has the ability to perform 3,000 transactions per second.

Once and for All: NEM and XEM

There is a lot of confusion among users about NEM and XEM. Note that NEM is the name of the network and XEM is the name of the network’s digital currency. For example, Bitcoin is the name of the Blockchaink and its digital currency is also called Bitcoin, or in another example, Ethereum is the name of a Blockchaink and its digital currency is called Ether, which of course is also called Ethereum.

History of moisture

What is NEM?  Everything about damp

Nam Network was founded by a user of the Bitcoin Talk community with the username “UtopianFuture”. He initially wanted to do research on improving the Nxt digital currency network, but eventually decided with a small group of developers to build their own blockchain.

The project was introduced in March 2015 with the efforts of 15 developers and about 30 marketers. Nam’s main development team now resides in Singapore and prefers to work behind the scenes under a pseudonym.

Proof of Importance

With the moisture proof algorithm, there is no need to use powerful hardware devices and high power consumption to be a miner and confirm transactions. All you have to do is buy a certain amount of XEM and dedicate it to the network in your wallet, in addition to investing in moisture, you will get new XEM units by participating in the approval of transactions, which means earning money.

What is Harvest?

What is NEM?  Everything about damp

The transaction verification process on the Nam Harvest network is similar to the word mining on the Bitcoin network. Those who do Harvest are called Harvesters. Harvest literally means harvest.

What is a Harvester?

In the Nam network, those who have 10,000 XEM units can dedicate their assets to the network in Nam’s official wallet and, in addition to investing, earn commissions by confirming transactions.

So if there is no extraction machine, where does the processing power of network transactions come from?

Yes, it is true that processing transactions also requires hardware power. There is another group in the Nam network called the Supernod. To become a Super Node, you must have a powerful computer system, with dedicated Internet and ultra-high ping, plus 3,000,000 XEM units. The income of supernodes is very high.

Harvesters connect to supernodes to successfully complete transaction verification.

Factors such as the amount of Zim available in the wallet (at least 10,000 units), the amount of assets remaining in the wallet, as well as the number of transactions are influential in the income of network network harrows. That is, the more activity and assets a Harvester has, the better the chances of approving transactions and making money from Harvester:

What is the advantage of proving importance in a wet network over proving stocks in other networks?

What is NEM?  Everything about damp

In stock proof, the only factor in the income of a confirmer is the amount of assets. Whoever has more assets has a better chance of approving transactions and making money, but several other factors also affect the income of harosters in proving the importance of a wet network.

As we have said, in addition to the amount of assets in the wallet, the retention time of the assets in the wallet and the number of transactions in that wallet are also affected. These factors enable the webmasters to make money based on the value and importance they place on the network. For example, if a Harvester uses a wet network for its own payments, it increases the number of transactions in its wallet and increases its chances of confirming more transactions. These factors make humidity more practical over time.

Space, mosaics and smart assets

NameSpaces are an important part of the wet economic ecosystem. Think of a domain name as an Internet domain. Each space name in the NAM network is unique and once registered, no one can register it.

Nam’s official website wrote in this regard:

To better understand the properties of space and mosaics, consider them as domains and hosts, respectively. The space is unique in the wet network. For example, if someone creates a “foo” space, the second person cannot create a space with the same name. Everyone can create a space for themselves in order to improve their business activities.

What is NEM?  Everything about damp

What is a mosaic?

You can use mosaics by creating a space letter.

Making a mosaic is like building a digital asset or token. Nam Network Digital Currency (XEM) is the first mosaic made in this network. For example, if you own a pizza shop, you can create an asset called PizzaCoin on a wet network and specify that each pizza coin equals one pizza in your store. You can make your own mosaic or token through the official wallet and specify how many tokens to make for you.

This requires almost a hefty fee, so most large businesses use these features.

Like the Ethereum network, developers can develop their own applications on the NAM network. Wet grid can be useful in many industries, especially factory supply chain control. Recently, the Japanese Ministry of Agriculture used the Blockchaink Nam to track the production of livestock products.

Two Blockchainks

What is NEM?  Everything about damp

The Nem Foundation has developed two separate Blockchains for the network. The first blockchain is the public blockchain of this network that everyone can use, and the second blockchain is a private system called mijin that large companies can use to customize their processes and not disclose their transactions. .

Currently, more than 300 large companies use the China Mizhin block to conduct their business processes.

High transparency in damp

NAM Public Blockchain is 100% transparent and open source, so it can be used on a large scale by merchants and corporations as a system without the need for trust.

Fees and transaction speed

According to the wet development team, it only takes about 20 seconds to validate each wet transaction, and the network has the potential to perform 3,000 transactions per second. In the current situation, Bitcoin and Ethereum perform 8 and 14 transactions per second, respectively, which is much better in this regard.

Nam is one of the lowest paid digital currency networks. According to Nam’s official website, only 0.01% commission is required for each transaction. This means that you will pay only $ 0.01 for sending $ 100 and only $ 0.1 for sending $ 1,000. The reason for the lack of wet fees is the use of the proof-of-importance algorithm, which we have explained above.

Nam network currency units

As we said, the digital currency of Nam network is called ZEM (XEM). The total number of Zem units is 8,999,999,999, which were produced in 2015 and distributed among trusted developers. These tokens are marketed according to need and over time. The number of units is limited to the same amount and will not be added to it.

Unlike bitcoins, the new units of which are produced in the extraction process and reach the miner, in the approval of wet transactions, the Harvester mentioned above is given only the transaction fees.

Zem price

What is NEM?  Everything about damp

Zem is one of the digital assets that if you had invested less than 10 million Tomans at the beginning of last year (2017), today you were shoveling money with a profit of several thousand percent. The highest price of Zem was recorded on January 6, 2018 at $ 1.8 and then fell into the abyss of historical collapse at the same time as other digital currencies.

The digital currency has plummeted following the hacking of the Quin Check exchange, which led to the theft of $ 500 million worth of Zem units.

However, given the extraordinary features of this network, one can hope to break the record again.

Pools

To receive official wallets, you can refer to the wallets section of the official site of this network. Many informal wallets have been developed for this popular digital currency, which you can view and receive from the wallets section of the digital currency site. Wet wallets are available for all three platforms (Windows, Mac and Linux) – Mobile (Android and iOS) and the Web.

The official wallet section of Nam

Informal wallet section

Buy and Sell Zem (XEM)

What is NEM?  Everything about damp

Zam is often traded in digital currency exchanges. In general, there are two ways for Iranian users to buy or sell Zam:

1- Direct purchase with traditional currencies such as Rials or Dollars

2- Converting other digital currencies into zam

Buy Zem (XEM) in Rials or Dollars

1- Buy Zam with Rials

Zam direct purchase in Rials is done through Iranian exchange sites. Most in-house sites currently only sell Bitcoin or in some cases Ethereum. Only a small number of Iranian sites have added Zam to their shopping cart, and most of the time the inventory of these sites is zero. You can note on these sites, if any, that you must ensure the credibility of a site or person to buy digital currencies.

2- Buy Zam with dollars

Buying digital currencies directly in dollars is a common practice around the world, but not for Iranian users. To buy digital currencies with dollars, you need international accounts such as Master or Visa cards. Due to the existing sanctions, for people living in Iran, direct purchase with dollars requires a lot of intermediaries, which ultimately increases the cost. In addition, there is the problem of registering Iranian users on reputable foreign sites.

You can buy Zam directly with dollars from Kraken and Bitstamp sites.

Convert other digital currencies to zam

This is the most common way to buy Zam or other currencies, especially for Iranian users. In this method, you have to buy Bitcoin or Ethereum from Iranian sites or the reputable site LocalBitcoins.com, ری using Rials, and then transfer this Bitcoin or Ethereum to reputable exchange offices and turn it into Zam.

Sites that can be used by Iranian users to convert Bitcoin or Ethereum to Zam:

Changelly

What is NEM?  Everything about damp

Is a fast digital currency exchange platform that offers the best digital currency exchange rates on the market. This site is not actually an exchange.

The Changli robot is compatible with large and popular digital currency platforms such as Polonix and Bitrex. In a fraction of a second, the robot registers buying and selling requests on these platforms, then selects the best available price displayed on the main page and shows it to the user. In Changli, you can exchange about 35 digital currencies very quickly and instantly.

Full acquaintance with Changli

Binance

What is NEM?  Everything about damp

Most of the transactions are done in Bainance Chinese exchange. Due to the fact that the exchange office is Chinese, the possibility of sanctions and blocking the money is very low. This site can be used by Iranian users. You can charge bitcoins or other currencies in this exchange and buy Zam or other currencies. As we said, this exchange can save your capital as a wallet. We suggest that you transfer your currencies to secure wallets after purchase.

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Hitbtc

What is NEM?  Everything about damp

Like Bainance, this platform is a good environment for buying and selling Zam and other digital currencies. The risk of blocking in this exchange is much higher, so try to transfer your money to a safe wallet immediately after purchase.

Other exchanges such as bitfinex can be used by Iranian users, but due to the very high risk, we do not offer ارز currency charges to them.

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