NEM (New Economy Movement) is an ecosystem platform that uses blockchain and encryption to give corporate and individual solutions. NEM's NIS1 public blockchain, which was deployed in 2018, has a native coin called XEM.On the NEM public blockchain, XEM is used to pay for transactions and to encourage the network of public nodes to process and record transactions for participants. The NIS1 public network of NEM is secured by its own proof-of-importance (PoI) algorithm, which ensures that network transactions are performed and recorded in a timely and accurate way.The total supply of XEM is 8.999 billion, all of which have been generated since the network's inception �V no new coins have been further minted since then.