XEM (NEM Blockchain)

XEM is the token of the NEM blockchain, which is a blockchain technology platform that was created to provide a more scalable and decentralized approach to secure transactions and data exchange. NEM was launched in March 2015 and is designed to be fast, secure, and scalable. One of NEM's key features is its consensus algorithm, which is based on the Proof of Importance (PoI) system. XEM has many uses on the NEM platform, including as a currency for transactions on the network, as a means to pay for fees associated with using NEM, and as a way to incentivize and reward participants in the NEM ecosystem. Overall, the NEM blockchain and XEM token aim to provide a way for people and businesses to securely exchange and record data and value without the need for intermediaries like banks or other financial institutions.