Keep in mind that Symbol has its own token, XYM, which runs in parallel with NEM. This is when we saw the value of XEM at $0.39. Symbol is intended to be the connection between businesses and the blockchain, developed with interoperability in mind. In fact, the mainnet officially went live and marked the next chapter for the blockchain.
On March 17, NEM launched Symbol after 4 years of development, which is the next evolution of the blockchain. This is why you might want to invest in XEM early on, as there will come a point in time where many users will want to vest 10,000 XEM tokens in order to harvest the next blocks. Whenever a user who has 10,000 vested XEM ends up generating a block in NEM, they get the transaction fees as a reward. Through this method, every time a transaction is initiated, the first computer to see the transaction notifies other users around that transaction while generating a new block. In other words, they cannot be mined, and instead, the new coins are produced through what is known as harvesting in order to determine who harvests the next block. PoI rewards users that make transactions with others on the network, and conducting more transactions above a minimum size also adds to a participant’s POI score and helps that participant gain a lot more chances to claim a reward. PoW leads to a lot of power consumption, and PoS incentivizes cryptocurrency saving instead of spending, as the participants with more coins hold more power. This requires a mining device to do the work for the blockchain, where the rewards are allocated to the miners based on their contributions, and New Economy Movement uses harvesting instead of it, which might be a good reason as to why this might be a good time to buy XEM.
Many blockchains, for example, use proof-of-work (PoW) or proof-of-stake (PoS). New Economy Movement XEM/USD was developed to be a better blockchain when compared to many others and it tries to do this through the usage of two key concepts of proof-of-importance (PoI) as well as harvesting.
0 kommentar(er)
