NEM has been in the top five for quite some time, but unlike the other top five, with the likes of headline giants ethereum, bitcoin, litecoin, and ripple, NEM has quietly gone along, unnoticed, plugging away.
You’ve probably heard people say, “And what’s that NEM who’s way up there on Coin Market Cap? Some scam?” Nope.
But what is NEM? NEM is a base line fat protocol like ethereum. The catch, and why I believe it hasn’t gotten any hype is that it is, without further ado, “The Ethereum of Japan.”
Geographically, the big players are staking their countries, or better yet, the big counties are staking their blockchains of choice.
Qtum and Antshares, now NEO, are taking root in China. Bitcoin is everywhere, Korea, US, and China especially. Ethereum and Monero are mined heavily in Russia and the US. And Japan, quiet cultured Japan, is backing NEM.
Why is NEM covert?
Of the top 10 cryptocurrencies by total market cap, NEM and Monero are the least hyped. Monero, probably because they are very nerdy, core developers. They turn away from the hype. Spagni announced The Monero Enterprise Alliance, to not only hush everyone’s bubble mania, but to say that we’re not involved in the world of fluff.
Culturally, Japan is reserved. Quiet. Confident. Behind the scenes. This is evident with NEM. It’s county’s colors are shining through.
Why is NEM cool?
Mosaic
NEM Faucet allows you to play a game every four hours where you can win NEM. It also allows you to participate in the early stages of the Mosaic blockchain.
Proof of Importance
Proof of work transitioning to proof of stake may only be a short term answer. Proof of importance may quite be the next step and NEM is in the process of implementing POI.
But really, why NEM is cool can be found in the following translation of it’s game from Japanese to English:
WHAT is NEM Mainnet Faucet ?
You can get Mainnet XEM for FREE. You can get a small amount XEM by twisting Faucet once four hour. Faucet need you ONLY for a NEM Address! "Oh my shit! I don't have...", Never Give UP! You can get an Address from nanoWallet. It is useful because it outputs three parameters (Pubkey,Prikey,Address). Do not forget to record!
(To cover myself, this is not investment advice. I do own NEM, but it only represents less than 2% of my blockchain portfolio.)
Great post, I will definitely be looking at NEM too, currently expanding my crypto portfolio.
Thanks for posting!
I like NEM. During volatility it never strays far. Good sign. Up to almost 22 cents today! wowzers.
Right! Glad I bought at 16 cents, but wishing I'd bought more!
Great post @chainblocker! Loving that Japanese translation ;)
Funny right! That's the real reason I like NEM!
Before I invested in cyrptocurrency, I was trying to figure out what blockchain technology was. I remember hearing about NEM early and then others. I circled back to NEM and decided this was what blockchain was capable of outside of just currency or exchange.
(Art credit: @kamatsukachan on Twitter)
Right, this space is capable and already showcasing signs of so much more than just a currency
Yup. And in my humble opinion, NEM is a leader on that front.
I really like NEM, wish I owned more :)
Me too!
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STOPNEM is doing great!
Not a NEM fan but will definitely keep an eye on it ! The fact that it tries something different and new everytime will surely help in maintaining my interest.
Very informative!
I'm officially buying NEM! Thanks for making NEM more clear to me :)
Great article and information. thanks. I tend to agree with you. Followed, upvoted and resteemed. Feel free to follow back.
Thanks for bringing NEM to my attention. I had a Japanese girlfriend once, Shiyori, and she was nowhere as reserved as these Japanese NEM developers are. She was a little fire cracker that loved hype and just wanted to enjoy everything life has to offer. Let's hope NEM breaks out of its shell like Shiyori did and embrace the hype it deserves!