Use NEM / XEM with your Wirex debit card

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10 Facts to get you acquainted with NEM/XEM

November 21, 2017 2:30 pm Published by

1. NEM is a peer-to-peer network that facilitates the transfer of currency but is also able to transfer messages, assets and smart contracts.

2. NEM is the platform. XEM is the currency used on the platform.

3. NEM stands for New Economy Movement

4. NEM was built 100% from scratch, (written in java and javascript) and not a fork of an existing blockchain such as Bitcoin and Ethereum.

5. NEM uses a proof-of-importance(POI) protocol. Importance is a measure of how much you’re invested in the NEM system. This is different to Bitcoin which uses a proof of work system where computers (miners) do the work for the blockchain and are rewarded coins in return).

6. As a result, NEM is more environmentally friendly than blockchains using Proof-of-work(POW) as the network upkeep does not need as much electrical power.

7. NEM is the first blockchain to implement delegated harvesting. This is an efficient way to pool account power without exposing any private keys.

8. NEM has been around since March 2015 (like Wirex).

9. NEM is currently ranked in top 10 cryptocurrencies by market cap.

10. You can use and spend XEM with a visa debit card, through Wirexapp.

Bonus 11

Here’s a short clip of our CEO, Pavel Matveev demonstrating how to Use XEM with Your Wirex Card:

Notable Replies

  • lan3jur

    So, can storing NEM on your WireX account be implemented in the POI protocol? That would be an awesome feature :slight_smile:

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