What's So Special About NEM? | Blockchain Central

The video introduces NIM, a blockchain network from Japan, highlighting its unique features like the smart asset system and proof of importance validation. Founded in 2015, NIM aims to provide decentralized financial freedom. It offers a flexible architecture, allowing users to tailor the blockchain to their needs. The proof of importance mechanism reduces computational power requirements, promoting active participation. NIM supports both public and private blockchains, with the Venezuelan Petro as a notable example. The video concludes with a disclaimer about financial advice.

What is the primary aim of the Nim blockchain network?

• To provide a decentralized transaction system

• To centralize financial systems

• To create a new cryptocurrency

• To replace Bitcoin

Who founded the Nim blockchain network?

• Utopian Future

• Vitalik Buterin

• Charlie Lee

• Satoshi Nakamoto

What unique feature does Nim's architecture promote?

• Smart asset system

• Proof of Work

• Centralized control

• High transaction fees

How does Nim's smart asset system benefit users?

• By increasing transaction fees

• By providing direct API access to blockchain features

• By requiring complex programming

• By limiting blockchain access

What is the main advantage of Nim's Proof of Importance mechanism?

• It requires high computational power

• It uses cryptographic riddles

• It reduces computational power needed for validation

• It favors large currency holders

What is the purpose of the harvesting mechanism in Nim?

• To centralize the network

• To reward nodes for network participation

• To create new blocks

• To increase transaction fees

Which cryptocurrency is based on the Nim protocol?

• Litecoin

• Ethereum

• Bitcoin

• Venezuelan Petro