The score reflects the overall worthiness of the blockchain's ecosystem, as determined by regular monitoring and collective reviewing of the ecosystem.
Ecosystem score is decresed as per the score factor of section in protocol
Documentation API score is decreased as it having less understabilty
Documentation score decreased due to less understandablity of node setup and skeleton code
Add-Ons decreases by security auditing tools
Documentaion increases by their existance
Foundation tools decreases by essential tools, programming language support and sdks
The score depicts the network's performance rating based on metrics like avg TPS, nodes, gas fees, and uptime.
|PERFORMANCE MATRIX||VALUE||MONITORED AT|
|Node Count||150 nodes|
|Reddit Total Members Online||405 members|
|Reddit Total Members||22 members|
|Discord Total Subscribers Online||335 subscribers|
|Discord Total Subscribers||10,935 subscribers|
|Telegram Err||0 err|
|Telegram Ppm||0 ppm|
|Telegram Views Per Post||0 views|
|Telegram Total Subscribers Online||487 subscribers|
|Telegram Total Subscribers||18,641 subscribers|
The score represents the development support the protocol offers to developers in terms of tools and resources.
he score is derived by considering the documentation support offered by the protocol to help developers better understand the protocol's ecosystem.
The score reflects the protocol's progressiveness in allocating funds to support the developers who are building on top of the blockchain.
The score reflects how equipped is the protocol's ecosystem with add-on tools like code editors, IDEs and security
THIRD PARTY SERVICES
THIRD PARTY SERVICES
The score reflects the protocol's ability to provide third-party services such as Oracle integration, API management, and cloud services.
THIRD PARTY SERVICES
It reflects how well the protocol's support system works in terms of communication tools, DAO rating, development community size, and stack exchange, among other things.
It indicates how widely the protocol has been adopted in the industry, taking into account aspects such as the
number of developers that are using it and the number of transactional values.
The score depicts the protocol's overall responsiveness toward its members in online communities like Discord,
Telegram, Slack, Linkedin, etc.
NEM, elaborated as New Economy Movement, was launched to empower people by building a "new economy based on the principles of decentralization, financial freedom and equality of opportunity."
NEM is a blockchain-based ‘virtual currency and payment network’ platform that emerged as a fork-out version of another blockchain-based platform called NXT. Later, NEM.io developed its codebase to make NEM faster and more scalable, which led to the emergence of a new NEM cryptocurrency platform.
NEM has its currency, XEM, traded by cryptocurrency holders but not utilized as a payment method.
What is NEM?
Launched in March 2015, NEM, a blockchain platform, is one of the industry's pioneers that aims to improve the drawbacks of other chains. It was one of the first non-Turing full chains to include user-defined tokens (mosaics), namespaces, multi-signature accounts, and a P2P reputation system based on a custom EigenTrust++ algorithm. NIS, the NEM client, is written in Java.
Presently, NEM supports a cryptocurrency wallet called Nano wallet.
NEM uses a unique consensus mechanism known as Proof-of-Importance (PoI) to add new blocks to the chain. It gives importance to a user's network support that is decided based upon the total number of coins a user owns and the number of transactions carried out through the user's NEM wallet. A user should stake 10,000 XEM to become a validator.
The verification process of the NEM protocol is called Harvesting and the people who verify the transactions are known as Harvesters.
As one of the most significant aspects of a blockchain, Nodes provide the security and stability needed for the blockchain to operate. The NEM cryptocurrency network has two types of nodes which are:
- Supernode - It is an address that holds at least 3 million XEM cryptocurrencies and serves as a network validator. They are regularly rewarded from the NEM coin treasury, which was set aside when all coins were issued during the Genesis block stage.
- Harvesters - Harvesters are users who have at least 10,000 XEM coins in their accounts. Like miners in a Proof-of-Work mechanism, Harvesters harvest a block to get the transactional fees included within the block as a reward.
Multiple users must sign a transaction to update it on the blockchain, making the network malicious proof.
- Namespaces - Similar to internet domain names, namespaces allow users to create multiple domains and sub-domains for various projects on the NEM blockchain.
- Mosaics - They are the custom assets on the NEM network that can be linked to physical, valuable assets and can be transferred on the network.
- Eigentrust++ algorithm - It creates a "reputation system" for network nodes.
Popular Use Cases
- Supply chain management
- Asset tracking
- Records keeping
- New token issuance