Instant Exchange ShapeShift Integrates NEM’s Cryptocurrency XEM

The NEM Foundation today announced that instant cryptocurrency exchange ShapeShift will integrate the XEM token.

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The importance of this is that ShapeShifts' extensive API is used by many third parties as the back-end to power services helping to provide liquidity to Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. Through ShapeShift’s NEM integration, cryptocurrency ATMs will be able to support XEM, along with many consumer goods websites.

“At NEM, we are constantly looking for ways to better serve our community and XEM token holders,” said Lon Wong, President of the NEM Foundation. “We’ve received many requests to make XEM more available on exchanges, and our integration with ShapeShift is a major step forward in providing flexibility and liquidity to the community.”

The NEM team is working to integrate ShapeShift into its Nanowallet, to offer similar convenience already available through Changelly. The Nanowallet is a native NEM desktop wallet providing users the ability to directly exchange XEM for other cryptocurrencies.

Since the NEM Foundation announced a $40 million expansion earlier this year, NEM has been rapidly developing Catapult, its second and completely augmented iteration.

NEM’s expansion also includes at 10,000 square-foot Innovation Lab in Kuala Lumpur, Malaysia, which will house the NEM Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Innovation Lab and serve as an accelerator, incubator, and coworking space. The NEM Foundation will also begin operations in Europe starting with a training program for software developers in October.