Hi all, I was seeking a confirmation of this fact: XEM is a cryptocurrency which is NOT a fork or some sort of Bitcoin. Is it correct?
Should be like that reading the materials from the official sources, but if someone can doubleconfirm I would appreciate.
THX!
That's actually a funny question, only because when NEM was coded from scratch there was only one Bitcoin, and I don't think anyone anticipated the multiple forks it's having now.
NEM was originally going to be a clone of NXT. NXT was the first of what was called the second generation of cryptocurrency back in the day. Rather than proof of work mining, it confirmed blocks through a process called forging. The entire coin was released at once in a genesis block so the forging address would get any coins that were transaction fees. NXT had some initial technical difficulties which NEM was going to address. And then the developers decided to just code the whole thing from scratch. NEM is a complete original.
Also, don't forget the proof of importance protocol instead of pure proof of stake. That's something unique to NEM as well.