🔥 TOP STORY
Bitcoin Cash, Binance Coin, Stellar, NEO – Weekly Price Prediction and Forecasts
Bitcoin Cash, Binance Coin, Stellar, NEO – Weekly Price Prediction and Forecasts

WikiCoin: What Blockchain Applications Can Do

  • Katya Michaels
    📚 WikiCoin

    Innovative technologies are known for disrupting established industries, sometimes in entirely unexpected ways, and Blockchain is no exception

WikiCoin: What Blockchain Applications Can Do
You may also like:

As cryptocurrency adoption spreads, so does awareness of Blockchain technology on the part of financial institutions, technology companies and consumers. Banks have been especially active in exploring Blockchain applications, which is not surprising since they are likely to experience a significant disruptive effect from cryptocurrencies. However, developers and entrepreneurs in all fields, as well as government committees, have been looking into Blockchains, with more examples making the news every day. In fact, Blockchain technology can be applied anywhere there is a need for a secure, immutable record of data.

Digital identity

Blockchain provides a highly secure way of establishing a digital identity, which can be used not only for purposes of digital financial transactions but also as applied to travel, immigration, health care, insurance and social networks, to name a few. Even more significantly, because ownership of private keys equates with ownership of digital assets, Blockchain can revolutionize the entertainment industry and digital media consumption.

Record keeping

Blockchain technology can improve security and optimize the transfer of data in finance, governance, auditing, transport services, automotive industries and even in space missions. The automatic and immutable record of transactions, as well as the ability to control permissions and data disclosure, helps eliminate leaks of sensitive information and create trust- all without relying on a centralized monitoring system.

Smart contracts

Smart contracts are programs that code and execute complex transactions on the Blockchain. They are a way not only to document but also enforce legal and commercial agreements. As with other Blockchain applications, this allows eliminating reliance on a third party for enforcement, building trust on the basis of automatic compliance with contract terms.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!
👓 Recommended articles

Nem Price Prediction 2019-20-25 — How Much Will XEM Cost?

  • Denys Serhiichuk
    📚 WikiCoin

    📖🤓Most of the cryptocurrencies lost their value during 2018, however, some of them have potential for future growth. NEM or “New Economic Movement” is such a coin. This digital asset is a unique one, as it is not similar to the most popular cryptos, like Bitcoin or Ethereum, for example. In this article, we analyze the potential of NEM and predict its price within the next few years.

Nem Price Prediction 2019-20-25 — How Much Will XEM Cost?
You may also like:

The cryptocurrency NEM stands out from the rest of altcoins. This is a young digital currency that has become especially popular among users in Asia.

NEM Platform Features

The founder of the cryptocurrency NEM (XEM) is considered to be a member of the popular portal bitcointalk.org, which is known by the nickname “Utopian Future”. In the second half of January 2014, the user began to discuss the created digital asset and received support from other forum participants.

NEM is an abbreviation for New Economic Movement. The title of digital money is the mission of the project.

The goal of the NEM platform is to create a digital asset that is used in all areas of the economy. Later, an organization called the NEM Foundation was founded, the main task of which is the development of digital currency.

NEM logo

The release of the NEM platform with the XEM coin took place at the end of March 2015. The new cryptocurrency quickly gained popularity in the “Land of the Rising Sun”, and later among users of other Asian countries. The success of the digital money has been driven by its unique features and benefits.

The coin has the following advantages:

  • Unique PoI algorithm (proof-of-importance), which ensures stable operation of the system and automatic confirmation of new units. Today, PoI looks the most successful and fair in comparison with PoW, as well as PoS and its modifications. The amount of remuneration to participants depends on several factors: the number of coins in the wallet, the number of transactions performed, the duration of participation in the system. Block generation time is only 60 seconds, which is one of the highest rates in the industry.

  • Convenience for users. The program used by the platform supports all operating systems. It can be downloaded from the official NEM website.

  • High security. Algorithm Catapult has its own system of self-diagnosis, eliminates the possibility of duplicate payments and prevents system failures. All this provides a high level of protection against cyber attacks.

  • Transaction Rate. The processing of operations on the NEM network takes just seconds, throughput is up to 4 thousand / sec.

  • The limited supply of 9 billion XEM tokens helps to maintain a stable exchange rate.

  • Adaptation of NEM wallets for any, including mobile devices.

  • The constant amount of commission - 0.01% of the transaction.

In the near future, the team is planning to implement solutions to increase the scalability of the network, to develop an innovative COMSA platform focused on supporting ICOs, and to focus on further cooperation with the banking sector. Many Asian and European banks are testing the benefits of the NEM blockchain in terms of using smart contracts and faster and cheaper transactions.

COMSA ecosystem

In addition, this year the project’s founders are about to open a science lab and the NEM Blockchain Innovation coworking center. The objective of the project is to promote the platform and assist in its practical use. It is reported that there are investors who are ready to invest $40 million in this idea. It is difficult to say how this is combined with the recent news about serious financial difficulties and the possible dismissal of employees.

Another project awaiting implementation is its own cryptocurrency exchange.

👉MUST READ NEM (XEM) Foundation to Ask Community for Funding and Change Tactics to Avoid Bankruptcy

NEM Price Prediction 2019

At the turn of 2017-18, in the period of an unprecedented rise in the cryptocurrency market, experts and specialized agencies vividly published forecasts, in which they announced even more intensive growth of XEM in the near future. Many promised the rise to $40-50 and called for investing with the expectation of 20 to 30-fold income. It is clear that any predictions, especially those related to numbers, can be risky.

NEM Price Prediction

But even today, the majority of analysts estimate XEM as still positive. They do not associate the current state of affairs exclusively with the general bearish trend of the market.

Experts also emphasize that the XEM token has the main advantages of two high-tech cryptocurrencies at once: Ethereum and Ripple. The first is related to the use of smart contract technology, and the second is focused on working with the traditional financial sector. Japan, which was the first to legalize cryptocurrencies, recognized XEM as an official means of payment.

At the same time, Japanese commercial structures wishing to use the coin as a financial instrument are required to purchase a license for $300 thousand and have at least $100 thousand in an XEM coin account.

According to various forecasts, by the end of 2019, the rate of XEM may increase several times and reach the level of $0.10 - $0.20. However, much will depend on general industry trends.

NEM Price Prediction 2020 and beyond

NEM logo

In the past, we have already seen the cost of XEM to be near $2, after which a slow decline in value began, but it was caused by a general market correction. Achievement of the price of $1.92 was caused by the fourth Elliot Wave. From the fifth wave and the upcoming general news background in the cryptocurrency market, we expect an increase in value to 4-6 dollars by the end of 2019.

Re-testing of the $1.92 level can happen much earlier, and there are all the prerequisites that this will happen in the first half of 2020. According to some forecasts, the cost of the cryptocurrency can rise to 20-30 dollars in a couple of years.

👉MUST READ The Best Cryptocurrency to Invest in 2019

Is it worth buying NEM now?

In general, investment in XEM, given the current rate around the lower boundary, seems quite attractive. However, experienced players warn newbies about the need to “put eggs in different baskets”. The NEM blockchain updates planned for 2019, in addition to increasing the speed and throughput, are fraught with potential failures, bugs, and hacker attacks. When making a decision to invest, you need to take all this into account.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles