NEM Blockchain Development

Blockchain

Blockchain is a revolutionary technology which is sometimes considered as big as the Interne. It is an encrypted, distributed database that records data. In other words it is a digital ledger of many transactions, contracts - that each need to be independently recorded. It is used for the secure transfer of items like money, property, contracts, etc. without requiring a third-party intermediary like a bank or a government. Once data is recorded inside a blockchain, it is very difficult to change it.

What is Blockchain Technology?

The blockchain is an incorruptible, digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. It offers a secure, fast, and cheaper medium of carrying out online transactions and online transfers of information, without the need of third party verification.

What is NEM?

NEM is a type of Blockchain technology and Crypto-currency. NEM is able to process transactions more efficiently than other networks. It is designed to compete with online payment processors. NEM has taken a different approach to supply its crypto-currency, called XEM.

Why should I use NEM when there is Bitcoin?

Bitcoin is a crypto currency and so are most crypto coins. Some are application specific while some are purely crypto coins. Apart from NEM being another crypto currency, NEM is a solution platform. There is more to offer as a platform. As a crypto currency, NEM does not require a lot of computing power and energy to run a node. NEM also advocates low entry barrier with Proof of Importance (POI) instead of more traditional ones. Those require a lot of stakes or computing power to mine. In NEM we call this harvesting. In addition, it also uses another solution, called Eigentrust ++ to validate and to filter out bad actors in the network. As an evolving solution, NEM is setting the stage for better things to come.

We have a team of NEM experts who have delivered POC's for various clients and have provided real time solutions for them.

NEM Blockchain Development

Why should I use NEM Blockchain Technology?

  • Apostille, blockchain notarizations that are transferable, updatable, branded and conjointly owned
  • First blockchain based multisig solution.
  • An encrypted messaging solution that also allows unencrypted and hex messaging.
  • Harvesting: Once harvesting is started, it doesn’t need a wallet to stay open to harvest. It can be closed and the wallet does not need to be online.
  • Protected wallet, i.e., wallet does not need to be online. It can hide behind a firewall and only connects itself directly to the NIS via the local network.
NEM Blockchain Development
  • Luxtag, a blockchain base certification
  • The wallet is protected by a password. The password and private key never leaves the computer on which the wallet is running.
  • Mosaics are NEM's asset feature and these allow assets to be created, to be mutable/immutable, capped/not capped, divisible/not divisible. Ability also to be bagged with other tokens, and levied. They come with descriptions and are a part of Namespaces
  • Spam protection designed to prevent attacks on the network by raising the fees on the attackers.

Why should Mindrops be your partner for your next NEM based Blockchain project?

While working on an innovative & disruptive project for HR & recruiting industry, we got a chance to work extensively on the NEM framework. We were able to implement a fully functional payment system using the NEM framework and to remove the middle man from the recruitment process, by delivering incentives in form of “PLEO” (a NEM based crypto currency) between wallets.

NEM Blockchain Development Company

What we achieved using NEM Framework:

  • Portal has its own NEM mosaic named "PLEO".
  • NEM wallet gets created for employer and candidate automatically at the time of registration, which can be exclusively used on portal.
  • Employer will receive welcome PLEO and XEM (NEM Token to be used on the portal for NEM network transaction fees only) at the time of registration.
  • Candidate will receive welcome XEM at the time of registration, which can be used for NEM network transaction fees only.
  • Portal NEM wallet can be exclusively used for the following purposes:
    • Employer can buy candidate profile.
    • Candidate will receive PLEO token in this wallet when an employer buys his/her profile..
    • Employer and candidate can transfer the PLEO to any other wallet, to cash them.
    • Employer and candidate can close his/her accountat at any time and can transfer the PLEO balance to another wallet.
  • Employer and candidates can refer their friends and get rewarded with PLEO tokens.
  • XEM (NEM crypto currency) gets automatically deposited to the employer and the candidate wallets from time to time. This keeps their wallet funded to pay the NEM Network transaction fees. It’s a free service provided by portal.

How can we help you?

Our team thrives on new projects and challenges. If you have a project in mind that you think we could add value to, then please do get in touch. We would love to hear from you. Please call +91 9555575231 or

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