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HomeCOINSWhat Is BEM (BEMT)? Complete Guide Review About BEM.

What Is BEM (BEMT)? Complete Guide Review About BEM.

What Is BEM (BEMT)?

In this paper BEM token is explained along with its founding goals, technical specifications, terminologies and future plans. The Foundation is made up of experts in the field of Cryptocurrency, Programming and Marketing. Each of these individuals has several years of work experience in defined fields. The identities of these individuals will not be revealed based on the principles and spirit of decentralization, Blockchain and raising the security level of projects. The Foundation was formed with the goal of Entrepreneurship on the Blockchain and its global development.

BEM Storage Key Points

Coin BasicInformation
Coin NameBEM
Short NameBEMT
Circulating Supply30,000,000.00 BEMT
Total Supply30,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Blockchain

A blockchain will allow the data held in that database to be spread out among several network nodes at various locations. This not only creates redundancy but also maintains the fidelity of the data stored therein, for example, if somebody (a node) tries to alter a record at one instance of the database, the other nodes would not be altered and so would prevent a bad actor from doing so. Also, the bad actor with incorrect data will easily be pinpointed and remedies to prevent malevolent actions will be placed.

This system helps to establish an exact and transparent order of events. This way, no one node within the network can alter information held within it. In a blockchain, the record could be a list of transactions (such as with a cryptocurrency), but it also is possible for a blockchain to hold a variety of other information like legal contracts, state identifications, or a company’s product inventory which makes it possible to implement lots of innovative ideas upon this technology.

POA – Proof of Authority

BEM uses a POA consensus algorithm. The POA consensus allows the blockchain to have high-speed transactions and a low cost. In blockchain platforms, consensus about the validity of a transaction or data could be reached with a different kind of mechanism. POA is an algorithm used in blockchains as a permissioned consensus mechanism which unlike, permission less blockchains where anyone can become a node, in permissioned blockchain all nodes are pre-selected.

The term POA or Proof of Authority was coined in 2017 by Gavin wood the co-founder of Ethereum and Parity Technologies. This allows having consensus with high scalability and bandwidth. In addition to fast transaction speed and affordability, the POA is very secure against DDoS (Distributed Denial-of-Service) attack and also 51% attack.

Smart Contract

Smart contracts are computer programs that are hosted and executed on blockchain networks. Each smart contract contains a code that specifies a predetermined condition that, if fulfilled, will yield predefined results. By running on a decentralized blockchain instead of a centralized server, smart contracts allow multiple parties to reach a common shared result accurately, in a timely manner and without manipulation.

Smart contracts are a powerful infrastructure for automation because they are not controlled by a central administrator and are not vulnerable to attacks by malicious entities from a single point. BEM applied to multilateral digital contracts, smart contract applications can reduce counter party risk, increase efficiency, reduce costs, and provide new levels of process transparency.

BEM Token (BEMT)

This is a utility token from Foundation; it can be used to get membership and discounts for Foundation services. Holders can also swap it for coin the main cryptocurrency foundation dedicated Blockchain, BEMPIRE, through a bridge contract that will be explained further in this paper. This is the first executive program of the BEM Foundation. This is very important for the foundation. Because everyone knows the foundation by BEMT. This has been used in entrepreneurship programs. And has played an important role. All projects start with BEMT. Projects are financed through BEMT. They will be the first official Blockchain token. And will be transferred to the Blockchain through the bridge contract.

Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .