Completely coded in Java with a C++ version in progress yet to make its debut; NEM’s primary focus is a wide distribution model. The platform has also introduced some new features to the Blockchain environment such as its MultiSignature accounts, proof-of-importance (POI) algorithm, Eigentrust++ reputation system and an encrypted messaging utility. NEM Blockchain software is used in a commercial Blockchain called Mijin, which is being tested by financial institutions and private companies in Japan and internationally.

Here is a list of accounts possible in the NEM Blockchain platform.

• -   Individual account
• -   MiltiSignature account
• -   Multi-Level MultiSignature account

• Account cannot announce transactions by itself. It will require other accounts to announce transactions for them. Other account is Mutlisignature or in-short multisig cosignatories.
• Multisig account is not created by combining public keys from other accounts. Instead, a pre- existing and funded address is converted into a multi-signature account and the cosignatories are assigned to it.
• The cosignatories can be assigned in any m-of-n combination where both the m and n can be any number of 1-32 (up to 32 cosignatories on an account); this includes 1-of-1 multi-signature contracts (adding themselves as the cosignatory).An account can be co-signer of up to 5 multisig accounts.
• In Miltisig account it is possible to newly link or remove a cosignatory. When adding or removing the cosignatory all other cosignatory has to sign that transaction.
• A 1-of-1 multi-signature account is possible in NEM as the account being turned into a multisig account has its private key nullified; meaning, it no longer has any power to initiate transactions. Only a cosignatory’s private key can initiate transactions on the multisig account’s behalf.
• It is not always necessary to force all cosignatories to co-sign the transaction. NEM allows setting up the minimum number of cosignatory agreements. These properties can be edited afterwards to suit almost all needs.
• The number of minimum cosignatories to approve transactions and remove cosignatories is editable.
• Multisig accounts can be converted again to regular accounts by removing all cosignatories when you own the multisig private key.

• A Multi-Level Multisig Account is a multisig that has a co-signer that is another multisig.
• Multisig accounts are not capable of co-signing transactions; cosignatories are responsible for doing so.

• POI system not only rewards those with a large account balance, but also takes into account how much they transact to others and who they transact with.
• Sending XEM only gives temporary boost. Largest component of PoI is amount vested.
• PoI is similar to Proof of Stake (PoS) except that it is not solely derived from the size of an account’s balance.
• Miners get the Network Fees. Poeple who use the NEM more and beneficial.