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.
Source: NEWSBTC - 27 minutes ago
Prominent institutional-grade cryptocurrency wallet provider BitGo raised $58.5 billion in a Series B funding round led by Mike Novogratz’ crypto-focused Galaxy Digital and Wall Street mainstay Goldman Sachs. Goldman and Galaxy Back BitGo’s Ambitions to Create a “$1 Trillion Crypto Wallet” Industry-leading provider of multi-sig security cryptocurrency custodial services BitGo announced today the second close...
Source: AltCoin Today - 27 minutes ago
Japanese Taxation Committee Seeks to Simplify Cryptocurrency Tax Reporting A Japanese taxation policy committee held a debate with the aim of simplifying cryptocurrency tax Wednesday, Oct. 17, Japanese daily news outlet Sankei News reports. Highlighting the complex tax filing regime currently in place for Japanese citizens, officials from the committee — which advises the government on policy — said there was a…
Source: The Merkle - 45 minutes ago
At press time, bitcoin is still trading in the $6,400 range, and remains unchanged since our last price piece. The sideways movement is continuing for the time being, but $100 shorter than where it stood previously. A few weeks ago, bitcoin was trading at $6,500. The price remained there for some time, and many couldn’t…
Source: Live Bitcoin News - 57 minutes ago
Bitcoin wallet security can come in many different ways. Using a password for extra security or a dedicated hardware solution are two popular solutions. Cobo, a Chinese startup, is taking this concept to a whole new level with its Vault hardware wallet. Any successful attempt to hack the device will lead to its destruction. Cobo...
Source: NEWSBTC - 1 hour ago
The United States Marshal Service (USMS) is set to auction approximately $4.25 million worth of Bitcoin at the beginning of November. The federal agency announced that it would put almost 660 Bitcoins on the auction block, with the online sale planned on November 5, from 8:00 AM EST to 2:00 PM EST. Interested bidders must submit...
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