A simple google search of NEM (XEM) will give you posts about how NEM is about to take over the smart contracts space. The funny thing is that a few months ago, NEM was in the news for all the wrong reasons. Over $500 million worth of NEM had been stolen from a Japanese exchange, and FUD was spreading that they would be dumped into the market, crashing it.
But NEM (XEM) was not a stranger to negative vibes. At some point in its development, NEM shut down after launch, due to some serious technical issues. However, the team has over time learnt from their mistakes and created a platform that is devoid of any hype. The have focused solely on getting everything right. The key strength of this platform comes from having partnership with different organizations, which gives it an intrinsic value that many other blockchain projects lack.
On top of that, NEM has managed to handle the main issues that have always plagued Ethereum, and that’s security. Through the Mijin v.2 update, NEM has probably become the most secure smart contracts platform in the market right now. But this is not something that has just happened overnight. The team has worked on it for the last 2 years, with many trials and failures along the way.
All through, FUD has been spread that this update would never happen, but here we are, it’s all set and ready. Other than security, Mijin V.2 makes NEM a highly scalable blockchain, one that has what it takes to completely transform smart contracts. This explains why everyone is all about NEM (XEM) right now.
All these factors point to a crypto that has survived the worst, and is driven by practicality over hype. That’s why I am not surprised that everyone is now jumping on to the NEM train. So is it really about to dethrone Ethereum? There is a good chance it will! It has everything that Ethereum doesn’t have, the most important ones being security and scalability.
The only thing that has been missing was the hype, but that too is coming in. News of NEM (XEM) dethroning Ethereum are ranking highly on search engines, and will play a role in driving volumes into this crypto. This will anchor its upward moment in the long-run. NEM (XEM) is one crypto I have had in my portfolio for some time now, and I am not about to get out any time soon.