What is NEM
NEM is a cryptocurrency launched in 2015 and written in Java. Main priorities of developers are high transaction speed and safety. Commercial blockchain Mijin uses the software of NEM. A distinctive feature of the cryptocurrency is the use of the proof-of-importance algorithm. This algorithm is a variation of a widely used algorithm proof-of-stake. It considers not only the amount of cryptocurrency in possession, but the overall activity of a user on the network as well. Block time is 60 seconds, which makes NEM one of the fastest cryptocurrencies.