Where does NEM come from?
NEM, the cryptocurrency and blockchain platform, was launched on March 31, 2015. Unlike other cryptocurrencies, most notably Bitcoin, NEM requires less data processing and uses less energy, keeping transaction costs low and transaction speeds fast.
NEM is said to stand for New Economy Movement. The denomination NEM currency is traded in is called XEM, and the units range from microXEM (0.000001 XEM) to milliXEM (0.001). As of April 2019, 1 XEM roughly equals $.05.
— SDCE | Sydney Digital Currency Exchange (@SDCExchange) February 8, 2019
At the end of January 2019, the NEM Foundation, which manages the technology, announced it was undergoing a massive restructuring and layoffs due to debt. This prompted a selloff of XEM on the market. However, NEM remains a popular so-called altcoin, or digital cryptocurrency.
The #BRG2019 event put on by @dtapscott, @alextapscott and @rev_global team was one of the most productive #blockchain industry events I’ve gone to. Not hype. Just intimate discussions around blockchain teams coming together to further the tech + champion token advocacy. #NEM pic.twitter.com/5X14E2uX8V
— Alex Tinsman (Inside NEM) (@Inside_NEM) April 25, 2019
Outside of cryptocurrency, nem is a word found in many languages. In French, nem means “Vietnamese spring roll,” derived from the Vietnamese word nem for “fermented pork” or “sausage,” a key ingredient of their spring rolls. In Portuguese, nem means “neither” or “nor.” In Serbo-Croatian, nem means “mute” or “silent.”
Examples of NEM
Who uses NEM?
NEM is a hot topic in the cryptocurrency world. Its January 2019 woes did not sink the NEM Foundation and its currency, as NEM technology and XEM remain popular among tech-savvy consumers.
Absolutely amazing! #NEM $XEM improved by 7.61% recently! The USD converted price is now $0.04 – Buy 10 stickers for the price of 5! https://t.co/Z8mTRMWFE6 $btc $eth #blockchain #stickers #bitcoin #ethereum
— CryptoStickers (@StuckOnCrypto) February 14, 2019
Depending on the language, nem can mean any number of things, from “spring roll” to “silent” to “nor”…
— égérie (@Valentinam_vm) November 24, 2014
Não é orgulho, é dignidade.. Não mendigo amor nem amizade de ninguém!!
— Mc Poze Do Rodo 🚩🎶 (@fras4sdopoze) May 10, 2019
Less commonly, it can be an intentional misspelling of the word “name”…
my nem is barry allen and im the fastest man alive
— Ano w (@aw_newb) May 10, 2019
This is not meant to be a formal definition of NEM like most terms we define on Dictionary.com, but is rather an informal word summary that hopefully touches upon the key aspects of the meaning and usage of NEM that will help our users expand their word mastery.