Blockchain is a revolutionary technology which is sometimes considered as big as the Internet. 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.
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.
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.
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.
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.
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 orContact Us