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verify transactions on the network at any need a basic line of software and a text editor.
given time. The environmental impact is also very low.
This is achieved by making nodes compete
Unfortunately, the demand for digital against each other to help ensure strength.
currencies has grown to a point where there You don’t have to keep your computer on or
are more transactions and users than can set up a dedicated server. You can simply
be handled by the number of miners in the run your wallet on the computer you use the
market. There is insufficient computational most and add nodes whenever you want.
power to sustain the number of transactions This makes accessing your coins and tokens
being processed. When this happens, easier and more convenient for people with
the cost of transaction fees goes up to operating systems other than Windows.
incentivize miners, and some transactions are
delayed or do not take place at all.
Why PoI is Suited for Businesses
Proof of importance was created as an Small businesses can use Proof of
alternative to this. With PoI, the network Importance to benefit from the popularity of
relies on each node/account’s activity NEM. A small business can gain importance
to verify transactions. This means that a by accepting NEM as a payment method and
smaller number of nodes can process many then linking this importance to its services
transactions. If a node is active and people or products. This will help to increase the
use it to access their wallets, it will likely have value of their goods and services and may
a higher importance score. These nodes also help attract new customers to their
will probably be selected by the algorithmic business. This will also give them access
block verification process so that they will to more community-related benefits. Large
complete verification tasks more frequently companies will also want to consider using
than other nodes with lower importance NEM as a payment method seriously.
scores. Through this, they can encourage customers
to use NEM and link its importance to the

How to Earn Importance customers’ survey results.
At any given time, a certain number Non-profit organizations can promote PoI
of nodes in the NEM network can verify as a method to adopt or be adopted through
blockchain transactions and create new its signage and promotions and increase
blocks. These nodes do this by completing the value of its coin by linking it to the NEM
important tasks such as holding a full copy blockchain. The business can also link the
of the blockchain or maintaining the NEM importance score of customers who choose
Infrastructure Server. To earn importance, NEM as a payment method to their donation
you need to participate in these processes. level. This will help increase the importance
An excellent way to do this is to run a of customers who donate and reward those
representative node by hosting NIS software. who choose to give. The business can
You can also run your local node by running also use the popularity of NEM to draw in
the NIS software on your computer. Try to potential investors or be promoted by the
keep your node updated. This will help you NEM Foundation.
to stay up to date on recent developments in
the NEM network and help you maintain your For blockchain technology to succeed,
importance score. we must build a better model for running
the network. Proof of Importance is a step
in that direction. It enables lower costs for
Benefits of Proof-of-Importance
network maintenance, higher transaction
There is no need for specialized hardware volumes and speeds, and greater security. It
or computing power. Proof of importance is removes the need for miners and creates a
wholly based on the activity and work you give more democratic process for operating on
to the network as a node operator. You only the network.

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