NEM

NEM XEM

Semi-centralized org. structure
  • Notarization
7 Rank
$1.09 Price
-2.86% % 24h
-4.07% % 1h
$9,767,069,999 Mkt. Cap
$135,775,000 Vol. 24h
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NEM project purpose and description

NEM clarity of purpose

NEM purpose and aspects

Conditional Trustless transactions, Replace traditonal contracts between parties, Build Decentralized applications Trustless transactions between parties, Freedom of payments, Counterfeiting impossible, Fraud resistant, No single point of failure, No % based transfer costs, free to hold

NEM additional differentiation against competition

NEM doesn't have a concept of a “smart contract”. They expect applications to hold the functions necessary to manage the token logic, and only have the ledger managed by NEM.

Short description

A blockchain notarization and timestamping service with transferable, updatable, branded, and conjointly owned notarizations

Abstract

​Many timestamping services exist in one form or another in the blockchain sphere, but most of these are simple first generation systems for hashing a document to get its fingerprint and then timestamping that fingerprint in the blockchain with a transaction. These are one-off fixed transactions that have their reason to be culminating in being included in a block so that later they may be audited. These 1.0 timestamps are not updatable, cannot be transferred from one owner to another, and cannot have additional value and assets attached to the timestamp. Apostille, as the first 2.0 blockchain notarization service, solves these problems and offers a new set of features and business opportunities.The Apostille system’s key innovation is taking data which represents an underlying person, place, or thing and giving that data its own private key derived deterministically from its contents. This is used to create an account that represents the state of that object. These are dynamic accounts that can be used to prove authenticity, show ownership, and record updates, as well as be branded, transferable and conjointly owned.

Link to Roadmap: n/a
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