What is Nem and how does it work?

Nem is a cryptocurrency which was launched in mid-2015, and as all the cryptos, it is used to transfer funds from one user to another. But it is not the only use of Nem. As Ethereum, it serves to sign smart contracts among other uses.

It employs the Blockchain technology and works under the POI (Proof of importance) algorithm that rewards users depending on the use they make on the platform.

As we have mentioned before, Nem has multiple uses and one of the most interesting is the possibility of registering intelligent assets. This means that it is possible to register notarial documents, patents and endless documents without having to go to third parties such as notaries.

If you want to know which Wallet use to store your NEM we recommend you take a look at this article where we are talking about the most recognized Wallets of this cryptocurrency.

To track any Wallet or transaction made with NEM you just have to access this website, it is an explorer that gives you the available information of the transactions.

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