What is NEM?

NEM is a blockchain platform that was launched in March 2015. It introduced features such as user-defined tokens, namespaces, multisignature accounts, and a peer-to-peer reputation system. Notably, it utilizes a Proof of Importance (PoI) consensus mechanism, aiming to incentivize on-chain activity while addressing wealth concentration issues associated with proof-of-stake systems. The platform's client, known as NIS, is developed in Java.

Currently, NEM is focused on its integration with another blockchain platform called Symbol. Throughout its existence, it has aimed to refine aspects of blockchain technology that were seen as lacking in other systems. The platform continues to be actively traded within the cryptocurrency market.