NEM is a peer-to-peer crytpocurrency platform that uses a Proof of Importance (POI) algorithm to verify transactions. This is different that Proof of Work or Proof of Stake algorithms because it prioritizes how much currency accounts have in addition to how many transactions they made on the network.
In doing this, NEM incentivizes users to increase activity on the network, which improves the accuracy and security of transaction information.
NEM is also committed to fostering a wide distribution network and provides support for encrypted messaging, opening up the possibility of a wide variety of use cases on its network. This, coupled with multisignature accounts, makes NEM a versatile and secure means of transacting value between users.
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