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Here’s What NEM (XEM) Is And Why It’s Running Right Now

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NEM and XEM what's what?
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NEM (XEM) has jumped close to 15% in the last twenty-four hours. This is a coin that’s been hailed as having some real potential in the blockchain space over the last couple of years and it’s very much part of the old-guard of cryptocoins in the space. Until recently, however, XEM has failed to really catch fire but, over the last couple of months, this trend looks to be changing.

Right now, XEM goes for $0.43 a piece. As compares to the USD, this is an all-time high level. We say as compares to USD because back in June this year the coin logged higher levels than is currently the case as compares to BTC but, to keep things simple, we’re going to stick with the USD exchange right now as this is a much more accurate reflection of value from a market capitalization perspective.

NEM Daily Chart

NEM Daily Chart

So, at the start of this year, this one went for $0.003. At the start of November, it had risen to $0.17. As noted above, we’re now looking at $0.43 a coin. That’s an incredible run and it’s very much brought XEM into the crypto-spotlight as the year draws to a close

Anyway, let’s get to the point: is this run going to continue and – if so – what’s going to drive the further upside?

First up it’s worth jumping into the coin and the company behind so as anyone new to NEM can get an idea what it’s all about.

So, NEM is the name of a blockchain technology and it was developed (and is now maintained and advanced) by what’s called the NEM Foundation. The coin, XEM, is a token that’s used to pay transaction fees on the companies blockchain (more on this in a minute).

In some ways, it’s similar to Ethereum, in the sense that it’s designed to allow for so-called smart contracts to be executed and – in turn – to allow for a sort of autonomous operational model. It differs from Ethereum, however, in the sense that it’s a combination of centralized and decentralized solutions. This dramatically increases the integration options (and ease) for and with current enterprise systems.

To put this another way, if a company wants to adopt blockchain technology and incorporate smart contracts into its operations it can use Ethereum but, if it does, it’s basically got to completely rebuild its architecture. On the other hand, it can use NEM and essentially just plug its current architecture into a public blockchain. NEM also allows for private blockchain integration, so the company can build a private blockchain using NEM and then integrate this with its own systems on one side and the public chain on the other side, allowing for easy integration (and the security of a private chain) while also the verification and accountability that comes with a public chain.

The best way to think of this is probably as follows: if you want total decentralization, you’ve got to go with Ethereum. If you’re willing to accept a degree of centralization (NEM operates its own nodes), however, which it’s not unreasonable to suggest that the vast majority of enterprises will be, NEM is probably a smarter, simpler, cheaper, easier and more secure option.

So where does XEM come into this?

Well, a company can build its operational framework using the NEM technology and can set everything up using what the company calls Smart Assets (not that different from smart contracts). In order to execute on these Smart Asset functions, a small amount of XEM is required.

And how does this play into current and future value?

The more companies that use NEM to power their operations, the more XEM is going to be required as a fee settlement token and, in turn, the higher the price will go.

So, as blockchain technology becomes increasingly integral to future industry, we think XEM could be one of the real winners of the adoption wave. It’s still got some way to go, sure, but this just means that current prices might be incredibly low as compares to future capitalization.

We will be updating our subscribers as soon as we know more. For the latest on XEM, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of NEM.io

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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