What is NEM? - for Beginners

What is NEM? In simple terms NEM is a cryptocurrency and blockchain platform first launched in 2015 March 31st. If we go a little further, unlike other cryptocurrencies it has its own unique and original source code. It operates using a unique Proof Of Importance algorithm(POI). This algorithm ensures that chances on a block calculation are distributed fairly. It does this by considering all incoming and outgoing transactions, plus the amount of coin's in the users wallet. This POI helps reward users' contribution to the NEM community quite easily. NEM has implemented measures to guard against colluding nodes. It is written in Java and its currency referred to as XEM. In the near past it was referred to as New Economy Movement, later on it was just called NEM. NEM allows instant global money transfer without imposing large fees. It is also very secure and there cannot be any possibility of unauthorized access.