NEM (XEM) Overview
NEM (XEM) blockchain was created to achieved utmost speed and precision to maintain accurate, secure ledger transactions. The blockchain was developed from the ground up to attain great scalability and speed. The technology was launched in 2015 and aimed at bringing exciting features to the cryptocurrency industry. XEM, NEM’s coin, has grown to conquer new milestones in price over the years; however, it has also had a share of its ups and downs. The cryptocurrency was adversely affected by a hack attacked on the cryptocurrency exchange; Coincheck. Over $530 million was stolen from XEM holders in the incident that took place early this year. NEM has, however, began recovering the lost value especially after Coincheck started reimbursing the affected customers.
NEM blockchain brings solutions to the blockchain system by allowing developers to build tokens, develop apps for fintech systems, tracking logistics, document notarization as well as decentralisation of authentications among others. The Smart Asset System has been designed to allow the developers to customise the use of the NEM blockchain. The inbuilt flexibility and simplicity have placed NEM on the global map of blockchains providing real-time solutions.
NEM-Xhai Studios Partnership
Consequently, the benefits of NEO blockchain to the cryptocurrency world cannot be overemphasized. However, it is evident by the growing partnerships expanding NEM’s network and widespread adaptability. For instance, the newly signed partner, Xhai Studios (“Xhai”); the Malaysian-based company that deals with innovations in the mobile game industry including publishing. The gaming guru will utilise NEM (XEM) blockchain into its platform and the services it provides.
The gaming industry is a fast-growing multi-billion industry with different contributors from across the world. The blockchain technology, on the other hand, is a cost-efficient technology that can bring revolution to the video gaming field. The developers of the games can now create, share and distribute their innovative products on a public secure, cost-effective platform. Xhai will employ NEM blockchain to revolutionise the gaming industry from now henceforth.
The new Xhai’s NEM powered platform not only has the best gaming features and functionalities but will also eradicate the need to have a middleman processing the payments. The blockchain will be used to verify transactions. Xhai has a mission to disrupt the gaming industry and especially the mobile games. Besides, XEM will be incorporated into the mobile video games. Therefore, the gamers will be able to buy in-app tokens plus XEM would be provided to the gamers as incentives. In addition to that, NEM’s API feature will give the applications the ability to work together with the blockchain nodes without requiring the use of third-party integration servers.
The deal gets even better for gamers as the mobile video games will have a fully working XEM wallet that will have excellent features such as flexibility, QR functionalities and the ability to transfer points into XEM currency.
A statement from the founder and president of NEM (XEM), Lon Wong reads:
We already have very strong traction with the use of the private chain (mijin) in many companies. The use of our public blockchain for this purpose comes at a good time where we are starting to showcase the application of our blockchain technology in the financial, logistics, IoTs, notarization, and now, the game industries.”
The President of Xhai Studio, Otto von Nostitz also notes that
“we have already completed several games to be put onto a platform that is now being fine-tuned to integrate with the blockchain application and we hope to be able to roll out our first games using this technology in the coming months.”