What's So Special About NEM?

The video discusses NIM, a blockchain network from Japan, introduced in 2015. It aims to provide a decentralized transaction system. NIM was developed to address blockchain issues like scalability and speed. By 2018, it had a significant market presence. NIM's architecture supports a smart asset system, allowing users to customize the blockchain. It uses a unique validation mechanism called proof of importance, which reduces computational power needs and rewards active users. NIM offers both public and private blockchain options, enhancing privacy and security. The video concludes with a disclaimer about financial advice.

What is the primary aim of the NIM blockchain network?

• To create a new cryptocurrency

• To provide financial freedom and equality

• To replace Bitcoin

• To centralize financial transactions

Who founded the NIM blockchain network?

• Satoshi Nakamoto

• Vitalik Buterin

• Utopian Future

• Charlie Lee

By 2018, what was NIM's market capitalization?

• 1 billion USD

• 5 billion USD

• 9 billion USD

• 15 billion USD

What unique feature does NIM's architecture promote?

• High transaction fees

• Centralized control

• Proof of work

• Smart asset system

How does the proof of importance mechanism benefit the NIM network?

• It reduces computational power needed for validation

• It relies on cryptographic riddles

• It increases computational power requirements

• It favors large currency holders

What is the role of 'harvesting' in the NIM network?

• To mine new coins

• To reward nodes for network participation

• To increase transaction fees

• To centralize the network

Which cryptocurrency is based on the NIM protocol?

• Bitcoin

• Ethereum

• Venezuelan Petro

• Litecoin