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Why NEM (XEM) Is Already Better than Ethereum (ETH)

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When comparing digital coins, a lot of people judge them by their current success, price, or rank according to various lists. However, one of the important things that everyone seems to forget at times like this is that they need to keep in mind the coin’s actual potential for the future, instead of its accomplishments so far. This is what we need to concentrate on when comparing Ethereum (ETH) and NEM (XEM).

NEM is a coin that has suffered a large impact, like every other crypto, in the last six months. After the market has turned bearish, NEM dropped to the rank of 10, and since then, it fell down even more on the ranking list. Currently, it is ranked as a 15th coin on the CoinMarketCap’s list. However, this doesn’t mean that the coin’s potential has dropped as well.

In fact, some experts believe that NEM already has the potential to exceed even the second largest digital currency, Ethereum (ETH).

It goes beyond the comparison of market stats

Comparing NEM’s price ($0.188905) to Ethereum’s ($466.53) certainly would not suggest that NEM has a chance to ever coming close to the second largest crypto. The same goes when we compare their market caps, with NEM’s being less than $2 billion, while Ethereum exceeds $46 billion.

In order to truly establish just how big NEM’s potential really is, we will have to dig deeper and to take a look behind the scenes.

Let’s start with technology. Ethereum’s tech is already well-known, used by many well-established firms, as well as startups. With that in mind, the firm behind NEM developed its own technology, which is in many ways similar to that of Ethereum. At the first glance, this makes them perfectly comparable- However, after a second look, this might not actually be the case.

The first difference between them is the issue of centralization. Ethereum is completely decentralized, following the standard that a true crypto needs to recognize in order to really be considered a cryptocurrency. NEM’s tech, however, is partially centralized. However, this also means that it is easier to quickly and easily integrate with the current technology of other businesses that are looking to adopt a crypto.

We will not go into too much detail for the purposes of this comparison, considering that this information can be easily obtained via a quick Google search. However, we will point out that the result of this difference is that NEM comes almost as just another plugin or a valuable new addition to the way these businesses operate. Ethereum, on the other hand, requires nothing less than a complete overhaul of the various enterprises’ technology. This is one of the biggest reasons why NEM comes as a much better solution for the issue.

Next, we come to the nature of the two coins’ blockchains. NEM’s blockchain technology offers both a public, as well as a private blockchain. NEM manages to achieve this via the platform called Mijin. This is important, considering how a lot of companies prefer their privacy and seek to protect the company secrets.

Ethereum’s platform, however, offers complete transparency, in the spirit of true decentralization. This makes it basically impossible to hide anything regarding the data or assets that the company has in store. Despite the nobility of such an approach, in the real-world situation, this is clearly another point for NEM.

If we add to that the fact that NEM supports basically any programming language out there, while Ethereum only uses its own called Solidity, NEM is once again a clear winner. This is due to the fact that the companies looking to adopt blockchain technology want convenience. Choosing Ethereum would mean that they have to hire developers that are already familiar with Solidity, or worse, to educate their current workers on how to use it.

What does this mean?

Nobody is trying to deny the importance of Ethereum to the crypto world or to reduce the accomplishments that this blockchain and crypto have managed to achieve so far. However, the fact remains that NEM seems to be much more convenient and integration-friendly than what ETH could ever be. The only real way that Ethereum can beat NEM when it comes to this is that the company in question originally starts as ETH-friendly when it comes to their current tech.

Those wishing to migrate to Ethereum’s blockchain will have to endure a long and complicated process, while NEM can literally be introduced overnight, and used with ease. It can even be used as a test-blockchain for those wishing to see how does operating via blockchain reflect on their business practices.

Naturally, NEM can be used as just a stepping stone, a blockchain for a test run. However, after experiencing it, and realizing its convenience and benefits, it is not impossible that the companies might simply decide to remain on NEM’s blockchain indefinitely.

Because of this, NEM’s potential is huge, and even though the market stats currently are not showing it, it can definitely rival, or even beat Ethereum when it comes to practical use.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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