Here's What NEM (XEM) Is And Why It's Running Right Now - Global Coin Report
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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?

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

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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The Pros And Cons Of Cryptocurrency

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cryptocurrency

Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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Bitcoin

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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