NEM is a peer-to-peer cryptocurrency and blockchain platform, that features a proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system, based on the blockchain technology. The NEM’s architecture with a built-in Smart Asset System is designed for both simplicity and flexibility of development, since the blockchain itself is supported by nodes running NEM-provided software that enforces an exceptional consensus mechanism. The NEM blockchain’s features are available through simple RESTful JSON calls to an API Gateway Server which acutely simplifies the creation of client apps, or interfacing servers to the blockchain using any language prefered in a friendly environment. Nanowallet, the official wallet of NEM, allows for instant money transfers globally, without large fees, while all wallets are highly secured from any unauthorized access. Furthermore, Nanowallet gives access to some of NEM’s features to promptly create Smart Assets such as a Namespace, that is linked to the address that created it driving any XEM sent there to go to that account, and Mosaic-based cryptocurrency on the NEM blockchain using NEM Namespaces and Mosaics.
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