What is the difference between NEM and other cryptocurrencies?

NEM is a blockchain-based platform that is designed to provide an efficient, secure, and low-cost infrastructure for the development of decentralized applications.

Unlike other cryptocurrencies, NEM uses a unique consensus algorithm called Proof of Importance (POI) which rewards users for their contributions to the network. This means that users are rewarded for their activity on the network such as making transactions, maintaining nodes, and participating in consensus. In addition to its unique consensus algorithm, NEM also has several features that set it apart from other cryptocurrencies.

For example, NEM’s Smart Asset System allows developers to create custom tokens and assets on the blockchain with minimal effort. This makes it easier for developers to create decentralized applications and services on the NEM platform. Furthermore, NEM also has a built-in messaging system which allows users to securely communicate with each other without having to rely on third-party services.

This makes it easier for developers to build applications that require secure communication between users. Finally, NEM also has an integrated multi-signature account system which allows users to set up multiple accounts with different levels of access control. This makes it easier for businesses and organizations to manage their funds in a secure manner without having to rely on third-party services or custodians.