Video - Coin Intro NEM XEM

This video is introducing altcoin called NEM. NEM uses 64 bit java, so this means you’ll be able to run the NEM software on popular operating systems that support Java, like Windows, Mac OS X and Linux.

TRANSCRIPT

NEM coin is currently listed #5 on coinmarketcap.com.

It’s price is $0.13 per coin, the circulating supply is right on the verge of 9 billion coins, the 24hour volume is at 12million and the total market cap for NEM is 1.1 billion dollars.

If you notice there is one asterisk next to the circulating supply of any coin listed on coinmarketcap.com, that means the coins is no longer mineable.

If you notice 3 asterisks next to the circulating supply of a coin, that means it has been significantly premined.

In addition to being a cryptocurrency, NEM also labels itself as a solution platform. They offer payment systems, encrypted and non-encrypted messaging, asset making and they also provide a naming system.

Since I covered the topic of nodes in my last video I’ll also explain how NEM has figured out a way to require less computing power and energy, and you’ll be rewarded for running a node. They call this harvesting. You can also run what is called a Supernode, and this program rewards you for running a high-powered node that serves both light and mobile wallets.

Harvesting is a process where a node calculates blocks and adds them to the blockchain.

A block contains all transactions that were sent in the last minute.

So that means a block is calculated every minute. The node can then keep all included transaction fees.

The requirement for harvesting is that the user account needs a vested balance of at least 10,000 XEM.

If you decide to take part in harvesting for NEM, you’ll learn that once harvesting is started, you don’t need your wallet to stay open in order to continue to harvest.

It can be closed and the wallet does not need to be online.

Now let’s take a look at their Supernode program.

This program is funded with the XEM reserved during the Nemesis block. These are the nodes that allows anyone using a light client to connect to the NEM network securely and make transactions safely.

As the name suggests, Supernodes are high performing, reliable nodes. They are regularly tested to ensure they are maintaining their high standards.

NEM uses 64 bit java, so this means you’ll be able to run the NEM software on popular operating systems that support Java, like Windows, Mac OS X and Linux.

You can get XEM at the following exchanges with BTC:

• Poloniex
• BTC38
• Bittrex
• Bitcoin.co.id
• BTER