XEM icon
XEM
NEM
$0.00000000AUD
All
1W
1M
1Y
Basic chart
Advanced chart
Information
Transactions
Orders
XEM icon

What is XEM?

XEM is the native utility and governance token of the NEM protocol. Managed by the NEM.io foundation based out of Singapore, the protocol started as a fork of the NXT blockchain, the developers have since created their own blockchain architecture. The NEM foundation was one of the early projects to recognise the blockchain and cryptocurrency revolution to be larger than simply a means of payment. The project moved beyond simply a means of payment with what they call their ‘Smart Asset System’, which supports everything from custom tokens to supply chain tracking protocols. While the blockchain does operate similarly to Bitcoin in that it is a distributed public ledger network, there is a key difference with its Proof-of-Importance consensus mechanism. This mechanism works by making only validators hold at least 10,000 XEM tokens for a certain amount of time. Each day an investor holds XEM, 10% of that holding is considered ‘vested’. Only once there is 10,000 XEM fully ‘vested’, then the investor can begin ‘harvesting’, which is similar to being a ‘miner’ of Bitcoin, to then receive transaction processing rewards. The blockchain is then primarily rewarding those who actually use the network.

Similar Coins

Coin
Price
24hr
PYTH icon

PYTH

Pyth Network
-
ALGO icon

ALGO

Algorand
-
MINA icon

MINA

Mina Protocol
-
CFX icon

CFX

Conflux Network
-
CKB icon

CKB

Nervos Network
-
GLMR icon

GLMR

Glimmer
-
NTRN icon

NTRN

Neutron
-
IQ icon

IQ

Everipedia IQ
-
RIF icon

RIF

RSK Infrastructure Framework
-

Frequently Asked Questions (FAQs)

Instant
Stop Loss
Take Profit
XEM icon
Sell NEM
AUD Balance: -
Sell Amount
Switch to AUD
XEM
≈ $0.00 AUD