NEM Advantages

Blockchain technology offers a fundamentally streamlined method of maintaining a secure ledger of transactions compared to a traditional database.

• How does NEM push blockchain performance further?
  NEM’s blockchain platform was designed and coded from the ground up for scale and speed. NEM’s permissioned private blockchain delivers industry-leading transaction rates for internal ledgers. And its revolutionary consensus mechanism and the Supernode program ensure that NEM’s open, public blockchain can grow without ever compromising throughput or stability.

Blockchain technology offers the potential to drastically simplify an enormous variety of secure ledger, transactional, and tracking systems compared with traditional databases.

• How does NEM make blockchain development easier?
  NEM’s blockchain exposes its functionality through a powerful API interface that can be used with any programming language, not a specific “smart contract” language. Existing business logic code can easily mate up and use blockchain where it’s strongest: secure transactions and ledger keeping. In short, configure NEM for your business, and then deploy blockchain incrementally and without forced retooling of existing infrastructure.

Blockchain technology is expanding to address many real world uses and applications beyond just “cryptocoins”.

• How does NEM customize blockchain to your needs?
  Unlike other blockchain technologies, NEM is built from the ground up with powerful modular customization for virtually any application. We call it our Smart Asset system. With it, NEM lets you focus on building exactly what you need, whether that’s a fintech system, tracking logistics, an ICO, document notarization, decentralized authentication, or much more.

Blockchain technology naturally provides a secure method of recorded transactions through its unique consensus-driven ledger concept. But every blockchain’s implementation is different and has different weaknesses and vulnerabilities.

• How does NEM make blockchain use even more secure?
  NEM’s architecture provides an incredibly secure and stable platform through its use of Eigentrust++ and an incentivized public node network based on its two-tier architecture. The significant risks inherent in on-blockchain “smart contracts” are eliminated by providing building block customization to NEM functionality that keeps application security in your hands, not on the blockchain. And NEM’s private blockchain option allows complete control over internal data privacy when a public blockchain isn’t the right solution.

NEM Smart Asset System

Focus on building exactly what you need, whether that’s a fintech system, tracking logistics, an ICO, document notarization, decentralized authentication, or much more.
The NEM Smart Asset System allows you to totally customize how you use the NEM blockchain.

First, your Namespace defines your home on the blockchain where you can name your own Mosaics, provide easy-to-remember names to user addresses, and more. Mosaics then are the basic building blocks of Smart Assets that you can use to represent lots of simple things: it could be a coin, a signature, a status update or more – you decide.

To create truly Smart Assets however, NEM allows you to create Addresses that act as containers for Mosaics that can be connected with Multisig rules. An address can simply represent a user, such as an account holder. But it can also represent an individual unique asset such as a document, or a song, or a package. You can then update that asset through configurable Transactions.

Purpose of the NEM Foundation

• NEM Blockchain for Every Industry
  NEM Blockchain technology has the potential to change the way every industry manages its information and data.
  The Foundation details the opportunities in every industry to effectively store transaction, customer, and supplier data in a transparent immutable ledger.
• NEM Blockchain for Governments
  Government organizations across the globe are exploring the use of blockchain technology to improve operations. The ability to record transactions on distributed ledgers offers new approaches for governments to improve transparency, prevent fraud, and establish trust.
  The Foundation is committed to work with Governments to further spread the use of NEM Blockchain Technology.
• NEM Blockchain in Academia
  Educational institutions can utilize the blockchain to store data around assessments, degrees, and transcripts, as well as verification of knowledge transfer between parties.
  The Foundation helps institutions to adopt NEM technology so they can enjoy the benefits of Blockchain technology.