Bitcoin alternative NEM officially launches

NEM, utilizing blockchain technology, is a cryptocurrency platform based on equal opportunity between economic actors and empowerment of individuals.

NEM introduces Proof-of-Importance (POI). POI is a consensus mechanism, which calculates an importance score for an account by taking into consideration its balance, activity of the account as well as the importance of accounts transacted with.

With security being a main concern for cryptocurrency platforms, NEM has taken steps to secure the network and an individual’s account. Eigentrust++ measures how well different computers on the network interact with each other and directs network traffic to trusted sources.

NEM incorporates a multitude of features to protect the user: blockchain-based multi-signature capabilities to maximize security while also maintaining ease of use, encrypted messaging, and a robust client-server web architecture that accommodates additional layers to be built upon it.