XEM (NEM Blockchain)

The NEM blockchain’s native token, XEM, is used for network payments. Users must also hold XEM in order to participate in NEM’s consensus process. For consensus, NEM employs a Proof-of-Importance (POI) algorithm, which determines who may produce a block based on a calculation of a user’s relative importance to the network. A user’s relative importance score is determined by the number of XEM tokens they own, as well as the number of transactions made to and from the user’s NEM wallet. Users with high importance scores are more likely to generate blockchain blocks.