NEM is based on newer block chain technology. One of the main factor that makes New Economic Movement NEM stand out from other crypto currencies is, it doesn’t have miners unlike bitcoins and they are called harvesters. It was initially launched in early 2015 around March and was primarily distributed among the members and the members were responsible to distribute among the community. The users can earn these NEM coins only through transactions. The transaction fee for purchasing the NEM coins are impressively low so it widely caught the attention among broad range of users. Users can get better insights with fangalbert blogs.
New Economic Movement (NEM) –Replacing Mining Network with Harvesting
NEM coins are generally purchased and sold to the people who are running the nodes or the centralized block chain. They are the ones who process your payments and they harvest and reap your money and you would be entitled to some of the rewards. The major advantage with this type of block chain network is, it is more secure and consumes very less hydro to send an NEM payment, whereas this doesn’t happen with bitcoins.
Bitcoins is generally works on mining network which requires lot of electricity and sometimes reflects certain complications. Hence these mining networks requires faster computers. Although bitcoins are great in terms of security but they lag when it comes to efficiency. The NEM platform set out to build a better block chain than compared to bitcoins and hence the reason for accepting it as seventh largest crypto currency in the world. It has greater efficiency when compared to conventional bitcoins. These concepts are briefly explained in Fang Albert blogs.
Fang Albert https://fangalbert.com an aspiring small business owners explain the basics of NEM and its advantages over bitcoins with simple blogs so even a beginner can understand.