NEM is a cryptocurrency built on the blockchain technology. It uses a new consensus algorithm called as Proof of Importance where nodes are allocated an importance score. The higher the importance score the more the probability of the node to harvest the next block.
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Most of us have heard about Coincheck and how it got hacked in January 2018. The reality is that the hack was one of the biggest of all times in the crypto market. But this is not a reason to stop profiting. Apparently, the exchange was able to remain profitable even after the hack. In 2017 it registered a profit of $491 million dollars.
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