NEM

NEM is a digital asset project whose native asset is XEM. NEM has gone through a number of changes over the years, such as offering two separate blockchains.

What is NEM (XEM)?

Wondering how NEM works? NEM came into existence as a blockchain in 2015, touting a consensus technology called proof-of-importance (PoI). PoI prioritized asset stake, time and transaction activity when it came to participants helping the blockchain run, called harvesting as opposed to mining or staking.

New Economy Movement, or NEM for short, went through a number of changes over the years, at one point operating as two separate blockchains housed under the NEM brand name. NEM’s original blockchain became known as NEM NIS1, retaining XEM as its native asset. Symbol, with its own asset XYM, was the second blockchain tailored toward business use cases and functions.

Taking on the name Symbol 2.0, the Symbol and NEM blockchains were to join forces as a result of a community vote in 2021, with the NIS1 blockchain becoming a sidechain, as per the NEM project’s Discord group. Somewhere along the way, NEM was acquired by digital asset community Coinapult. 

NEM price in USD

The NEM price today, more accurately referred to as the XEM price, can be expressed in United States dollars (USD), seen at the top of the page in the XEM to USD live price chart. The top of the page also includes the XEM marketcap, the NEM (XEM) total supply and more.