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NEM is a peer-to-peer blockchain platform launched on March 31, 2015. Along with NEM being a platform, it is also a cryptocurrency called XEM. NEM launched on March 31, 2015.


The NEM developers work under pseudonyms. NEM was developed by a BitcoinTalk user who posted under the username UtopianFuture who was inspired by Nxt to create their own platform. The initial plan for NEM was to create a fork of NXT, but this was eventually dismissed in favor of a developing a new codebase from the the ground up. Starting on January 19, 2014, an open call for participation began on the Bitcointalk forum to create a community-oriented cryptocurrency from the ground up.

In April 2016, Tech Bureau, the operator one of Japan’s largest cryptocurrency exchanges, Zaif, formed a partnership with NEM for a new blockchain engine.

On 26 January 2018, Japanese cryptocurrency exchange Coincheck, was the victim of a massive hack resulting in a loss of 523 mln NEM coins, worth approximately $534 mln. The hack only involved NEM. Because the security breach was caused by the lack of strong security measures of Coincheck, the NEM development team refused to conduct a hard fork. Instead NEM is creating an automated tagging system. This automated system will follow the money and tag any account that receives tainted money.


NEM Client
Official NEM Desktop Wallet
NEM Mobile Wallet
Official Mobile Wallet [Android/iOS]

See Also

Official Website