With the growing interest in cryptocurrencies, developers of new crypto coins such as the NEM (XEM) Coin find it very easy to attract customers. However, it is not just about developing new crypto currencies, but ensuring that the coins have the features necessary to amass the huge number of investors intended.
For the XEM Coin, since its establishment in 2015, it has proved itself worthy in the cryptocurrecy market against giants like Bitcoin. Actually, if you look at its value in relation to the Bitcoin (BTC), you will realize that it has been doing great especially immediately from the time it was launched.
Why NEM (XEM) Coin?
Just like any crypto currency coin, the Coin also, has its own unique features which are attracting investors from other altcoins.
One of the most outstanding thing about NEM (XEM) is that it has a fixed amount of coins. The present coins stand at 8,999,999,999 coins. This makes the coin inflation proof since no new coins are placed into the market every now and then. The users only circulate the available coins; meaning for you to own some coins, a certain user will have to sell some or all of his/her coins to you. No creation of new coins so as to circulate.
With the fixed amount of coins, NEM doesn’t employ the mining process in its transactions. Instead, the transactions are authenticated using Delegated Harvesting and Proof of Importance (POI) technologies.
In delegated harvesting, the harvester is given the transaction fees once a block is harvested and the transaction in that block are confirmed and permanently added into the blockchain. The POI on the other hand is for determining the actual harvester of the block. The POI takes into account:
- How long the owner has owned the coins
- Whether the owner is transacting with his/her partners or other investors in the network
- The size and number of transaction in the last thirty days
One advantage of the delegated harvesting technology is the ability to transact without putting your private keys at risk of being exposed. In addition, you don’t have to keep your PC running so as to harvest; the harvesting is automatically done as long as you already have more than 10,000 XEM coins in your account.
So, what is in for NEM (XEM) investors in 2018?
Looking at the past historical data of the coin especially in relation to its value in US dollars, the coin had stagnated below $0.01 till March, 2017 when its value went above that. From there, the value of the coin has been steadily rising.
Chart By coinmarketcap.com
But the real spike from the beginning of December 2017 where the value of the coin suddenly rose to attain a new high of $2.02 on January 4th, 2018. Although, in the last week the value has slightly dropped to stabilize at around $1.4, NEM (XEM) has proved that it is off to a great start and it is expected to continue with its strong bullish trend in the coming months.