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NEM (XEM) Back Among The Top Cryptocurrencies Following The Recent Surge And Announcement Of WeChat App

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NEM (XEM)

Things seem to be looking up for NEM following the recent surge that placed it in the top ten list of cryptocurrencies based on market cap.

The recent surge in the price of the altcoin is believed to have been influenced by news announcing the development of a WeChat app. The surge in the price initially saw it rise to $0.47 after which it was ranked 10th on December 11. However, the price has continued to go up and the cryptocurrency was valued at around $0.88 by December 19 with a volume of$233,392,000. This pushed the altcoin up by one position, thus placing it at 9th place.

NEM is one of the cryptocurrencies that made an early debut into the world of digital currencies. The altcoin came into the market in 2014 and its XEM coins were freely airdropped as opposed to the current situation where tokens for newer currencies are sold via ICOs. NEM also happens to be one of the cryptocurrencies that focus on security. It system employs a modular design that shields it from hacks and DDOS attacks.

One good example of NEM’s supreme security measures is the use of the “Node Reputation System” to identify suspicious activity. The system leverages machine learning as well as network nodes that are beyond normal behavior to pinpoint a deviation and also to roll out countermeasures for blocking attacks. This kind of focus on security is a key factor towards creating more confidence especially among developers which has, in turn, boosted its popularity.

NEM not only focuses on security but it also transaction speeds. Its system uses features called “supernodes” which boost transaction speeds and also deliver limitless scalability. The technology combines the payment features of blockchain technology with other technology-based infrastructures.

The NEM infrastructure has also opened doors to the creation of new technology such as the Smart Access System which allows developers to create a variety of decentralized applications. This could range from authentication services, document notarization, ICO, andtracking logistics among others.

As for the performance and growth of the cryptocurrency, it has registered a lot of growth since the beginning of the year but it is worth noting that it experienced a lot of volatility during the second half of 2017. Meanwhile, there was some confusion in the cryptocurrency community when the WeChat app was announced. The partnership was on whether the NEM developers were developing an app or whether they were teaming up with WeChat. However, there was clarification which revealed that it was not a partnership but rather an application for the WeChat ecosystem.

The confusion and a sudden drop in the trading volume caused the price of the cryptocurrency to plummet from $0.63 to $0.33 on Sunday.

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 Albert Hsieh via Flickr

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How do cross-chain transaction networks work?

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cross-chain transactions

Blockchain technology was initially thought to be an all-in-one solution, where all the transactions would take place on a single chain. However, this idea was deemed impractical with time due to certain limitations and constraints arising within the system scalability area.

If blockchains are to live up to the expectations, then the blockchain technology should allow atomic transactions over various blockchains that are interconnected. A single blockchain may even be split into multiple chains that cooperate.

The concept of cross chains is understood as the ability of two operating blockchains to exchange information with each other in order to form a network to process transactions. Cross-chain transaction networks allow multiple blockchains to pass over information to one another.

The use of blockchain platforms like Bitcoin, Ethereum, and Ripple has highlighted scalability issues over time. These limitations in the present blockchain technology have hindered its full potentials and benefits. Exactly where cross-chain technology comes in to resolve such scalability constraints faced by blockchain technology.

Cross blockchain compatibility

The cross-blockchain compatibility issue arises whenever we talk about multiple blockchains. Incompatibility is because not all of the blockchains use similar protocols. Each blockchain system communicates according to its standards.

The lack of a standardized protocol of intercommunication between the blockchain networks cripples the blockchain technology’s scalability, here comes in cross-blockchain compatibility. The concept allows blockchains to communicate without any…

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