How secure is NEM?
NEM is a secure blockchain platform that uses advanced cryptography to protect its users and their data.
The NEM blockchain is built on a Proof-of-Importance (POI) consensus algorithm, which is designed to be more secure than traditional Proof-of-Work (PoW) algorithms. This algorithm ensures that all transactions are validated by the network before they are added to the blockchain, making it virtually impossible for malicious actors to manipulate the ledger. In addition, NEM also uses multi-signature accounts and encrypted messaging to further enhance security.
Multi-signature accounts require multiple signatures from different users in order to approve a transaction, making it much harder for hackers to gain access to funds. Encrypted messaging allows users to communicate securely without fear of their messages being intercepted or read by third parties. Overall, NEM is one of the most secure blockchains available today and provides users with an extra layer of protection against malicious actors.
