Blockchain is a database technology, but built in a radically different way. It offers the potential to drastically simplify accounting, supply chain management, records keeping, asset tracking, and more. Businesses that leverage the strengths of a blockchain database are likely recognize huge operational efficiencies and maybe even fundamentally change the way they interact with their customers.
NEM gives you a platform to deploy the best of blockchain technology for your business, quickly and securely. And NEM’s Smart Asset system and simple development API puts blockchain to work for you with maximum customization and minimum disruption.
While blockchain technology is a breakthrough for digital records keeping, not all blockchains are the same. NEM’s development team learned from the mistakes and shortcomings of other blockchain concepts and created something to stand the test of time. NEM’s core was built from scratch with a focus on solving real-world needs at a global scale.
In short: NEM is higher performance, more customizable, easier to develop on, and more secure than other blockchain solutions – by design.
NEM’s blockchain exposes its functionality through a powerful API interface that can be used with any programming language, not a specific “smart contract” language. Existing business logic code can easily mate up and use blockchain where it’s strongest: secure transactions and ledger keeping. In short, configure NEM for your business, and then deploy blockchain incrementally and without forced retooling of existing infrastructure.
Unlike other blockchain technologies, NEM is built from the ground up with powerful modular customization for virtually any application. We call it our Smart Asset system. With it, NEM lets you focus on building exactly what you need, whether that’s a fintech system, tracking logistics, an ICO, document notarization, decentralized authentication, or much more.
NEM’s blockchain platform was designed and coded from the ground up for scale and speed. NEM’s permissioned private blockchain for enterprise delivers tested industry-leading transaction rates of thousands of transactions per second. In addition, the NEM public blockchain uses its “proof of importance” consensus mechanism to optimize throughput and stability on the public node network while being resource effective.
NEM’s architecture provides an incredibly secure and stable platform through its use of Eigentrust++ and an incentivized public node network based on its two-tier architecture. The significant risks inherent in on-blockchain “smart contracts” are eliminated by providing building block customization to NEM functionality that keeps application security in your hands, not on the blockchain. And NEM’s private blockchain option allows complete control over internal data privacy when a public blockchain isn’t the right solution.
NEM is unusual in offering both public and private blockchain deployment options for incredible flexibility to customize your solution for your needs. Both solutions use the same underlying code and are 100% API compatible, providing additional flexibility and future-proofing.
NEM’s core blockchain technology can be provisioned specifically for your use on your own servers when speed and privacy are the priority. Use NEM’s core server software to build your own set of simple “trusted” nodes to provide basic redundancy and availability while ensuring that all data and transactions are held strictly private. In this configuration, NEM can be extremely fast – thousands of transactions a second – while retaining all of blockchain’s benefits for data integrity and low overhead costs.
NEM’s simple and powerful development API lets you deploy blockchain in the right way for your business and IT infrastructure. Access your NEM network and its features from any platform or programming language. Deploy NEM incrementally with minimal disruption to existing systems, or build NEM in up-front as the basis of a streamlined business back-end.
NEM supports a decentralized, open, and self-sustaining public blockchain that can be used by anyone. The NEM public blockchain runs on a global public network of nodes whose operation is incentivized through payment of small transaction fees in NEM’s “XEM” crypto-currency. Developing an application for the NEM public blockchain is as simple as accessing a node through the simple and powerful NEM API in your programming language of choice.
The NEM public blockchain is the best choice when the priority is open public transactions, or transactions between multiple “untrusted” parties. Let the NEM public blockchain be the secure ledger database for your smartphone app, rewards points system, or escrow-less ownership management system.