Meet the Mind Behind NEM
Let’s kick things off by introducing Makoto, a lead developer on the NEM project. Picture a brainy PhD student in computer science specializing in cognitive science and artificial intelligence, and voila! You’ve got Makoto. He stumbled onto the NEM team thanks to his Java skills. Who knew knowing how to program would lead to such a futuristic adventure in cryptocurrency?
The NEM Dream Team
So, what’s it like working with a crew of super geeks? According to Makoto, it’s nothing short of a privilege. With five core devs that boast PhDs and high-powered coding jobs, the brainpower is formidable. You’d think they were conjuring spells instead of just writing code. In total, they’ve got a legion of 40 behind the scenes, including translators and marketers, ensuring NEM can dazzle different corners of the globe.
Why Bother with Another Cryptocurrency?
Here’s a kicker: NEM isn’t here to simply add to the crypto chatter; it aims to tackle pressing economic issues. The aim? Address wealth distribution disparities! Makoto shared this enlightening observation: in traditional fiat systems, the rich keep getting richer, which is the societal equivalent of a pie-eating contest where only one person gets to eat. NEM is built on the premise that money should flow, allowing everyone a slice of the pie.
Understanding NEM’s Unique Approach
So, what’s different about NEM as a platform? Well, for starters, they employ a novel consensus mechanism called Proof-of-Importance. Imagine if banks rewarded you not just for having a pile of cash, but for actively participating in the economy. That’s exactly what NEM sets out to do. Forget the traditional model where the wealthy grow richer while participating in pointless computational exercises. NEM encourages active engagement from all its users to earn rewards. Talk about a game-changer!
NEM vs. NXT: The Sibling Rivalry
Is NEM just a copycat of NXT? Not quite! Initially, NEM contemplated using NXT’s code but quickly pivoted, deciding to build an entirely new framework. While both platforms are Java-based and share some friendly similarities, NEM takes the cake with exclusive features designed for better security and community engagement.
Launching Into the Future
The initial release of NEM included a staggering 8.99 billion XEM coins, distributed among nearly 1,500 early adopters. Makoto assures us that these coins were not just hoarded by the developers; they are earmarked for future growth projects like mobile wallets and community initiatives. With NEM officially launching after a year in the works, it’s only the beginning. As Makoto puts it, they’re on a mission to work with everyone—governments, corporations, and the everyday person—to foster a more productive and equitable economy.
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