How Top 10 Crypto Rankings Have Changed over Past Year

Coincheck Hack - One of The Biggest Crypto Hacks in History

## What is NEM?

NEM is a blockchain platform that was launched in March of 2015. It was one of the pioneers of the cryptocurrency industry, and sought to improve on the imperfections found on other chains at the time. It was one of the first non-turing complete chains to feature user-defined tokens (called mosaics), namespaces, multisignature accounts, and a P2P reputation system based on [EigenTrust++](https://en.wikipedia.org/wiki/EigenTrust). Its most notable contribution to the space is the [proof-of-importance](https://smithandcrown.com/glossary/proof-of-importance/) consensus mechanism, which sought to reward on-chain activity and deter the concentration of wealth commonly associated with proof-of-stake. Its client, [NIS](https://github.com/NemProject/nis), is written in Java.

NEM has a global community. It sees the most utility as an alternative form of payment for businesses and vendors, and has a variety of social media apps built on top of it in Japan, such as [nemgraph](https://nemgraph.net/), a community-driven owned and operated alternative to Instagram. 

In December 2021, NEM was hard forked by a pseudonymous team of cryptocurrency experts and enthusiasts alike. Titled **Harlock**, this hard fork signaled the community’s intent to take NEM from a shadow of its former self into the world’s leading payments platform for on-chain and off-chain media content. 

NEMXEM

NEM Price (XEM)

NEM Links

Links

Explorers

Community

NEM Tags

Algorithm

Category

Industry

Platform