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NEM (XEM) Gears up for an Upswing with Exciting Partnerships

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With the crypto market touching $400 billion this year, the market has experienced a boom in the third generation decentralized applications (Dapps). Blockchain technology, which has made remarkable advancements over the past few months, has moved beyond Bitcoin and Ethereum. As the rival currencies soar in numbers, altcoins like NEM are renewing investors’ interest in the blockchain.

Functional since March 2015, NEM has recorded a steady progress. When compared to its peers, NEM’s performance has been consistent for the most part of the year. While big names like Bitcoin and Ethereum are the most vied-after investment options, they are frequently criticised for their security breaches, price volatility, and high transaction fees. Supported by top-notch security protocols and its unique Proof of Importance (POI) algorithm, NEM has cemented its place in the mainstream crypto space. The following segments explore the latest developments on the blockchain, which include some game-changing partnerships.

Multiversum Announces Partnership NEM and ProximaX

As a dynamic blockchain platform, NEM has made some interesting upgrades in the system, drawing thousands of investors around the globe. The blockchain, which released SDK Version 0.9.3 to support NodeJS 10, has announced XPOS implementation. Besides these upgrades, the blockchain network has anchored its position in the community with some influential partnerships.

Right after the New York Consensus in May, a partnership between Multiversum, NEM, and ProximaX was announced. As per the agreement signed by the founders of the three projects, the partnership aims to integrate Multiversum’s decentralized relational database with the NEM and ProximaX. Speaking of the prospects of the partnership, the Multiversum founder Andrea Taini observed, “Our vision is to develop together a set of tools to be integrated into a sort of Decentralized Operation System. A system that would meet every decentralized application needs. Multiversum provides a decentralized DataBase to secure data in the blockchain, ProximaX from its side provides a decentralized space system to store secure files and managing data streams, and lastly, NEM assists this integration with several tools, representing the engine of the decentralization. Thus, a perfect conjunction of knowledge and capability.”

NEM Ties up With BitPrime 

Among the more recent announcements, NEM’s partnership with BitPrime has become the talking point in the crypto space. According to the update released on medium, the Christchurch-based BitPrime platform will work with NEM Foundation to create a more secure and compliant digital platform to the New Zealand- based residents, enabling them to execute faster transactions with NEM tokens.

Recognised as one of the top retailer platforms, BitPrime is a trusted New Zealand-based platform, specializing in more than 50 cryptocurrencies. With both the teams making the partnership official, there will be a launch event in June to auspicate the partnership through an XEM airdrop and other important incentives. Regarding the announcement of the partnership, NEM’s expansion Director for Australia and New Zealand, Jason Lee reported, “Firms like BitPrime are a key part of the blockchain and cryptocurrency ecosystem. This partnership will signify a big win for both parties because of the shared commitment to help ordinary members of the public and enterprises to understand and trade cryptocurrency”.

Other Developments

The new partnerships, which are meant to bolster NEM’s global reach, mark the beginning of a new phase for the blockchain. The altcoin, which is on the rise, has made many other notable upgrades within its network. Tracing the developments on the blockchain, the tie-up between Tutellus, NEM, and Cryptonomos has created waves in the market. Besides this, other exciting developments, such as FreeMarket’s decision to utilize NEM Blockchain to solve volatility in smart contracts, created fresh interest in the blockchain.

Final Thoughts

As evident from the price charts, NEM has recorded a steady downtrend with occasional highs. Considering the general price trends of the major currencies, the downtrend can be interpreted as a temporary volatile phase. Going by the price movements, the coin dropped -$0.0183 or -7.07 on June 5. The coin, which ranks 15th by market capitalization, is available for trading at $0.250760 USD at the time of writing. Besides, the coin is making a great momentum with new development updates, and the enthusiasm is translated into a positive market response. Speaking in terms of numbers, the coin has moved up by 3.29% from its earlier position. With a market capitalization of $2,256,840,000 USD, NEM (XEM) anticipates making a fresh comeback in the market, while preparing for a massive bull run.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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

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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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