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IP Gold Ditches Ethereum for NEM Blockchain

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Raising questions about the capacity of the Ethereum blockchain, digital intellectual property asset platform, IP Gold has jumped ship to the NEM Blockchain.


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In a press release Wednesday, from the Seychelles, IP Gold said Ethereum is suffering from a proliferation of tokens and other Decentralized Applications (Dapps), which strain its transaction capabilities and the speed of its underlying infrastructure.

In order to achieve long-term stability and operations, IP Gold said it is among a group of tokens looking at alternative blockchains, such as NEM, that offer more scalability, security and enterprise features.

“The proven scalability, support, and security of the NEM blockchain offers the most future-proof platform for the IPG token and IP Gold community,” said David Grieshaber, CIO at IP Gold, in a statement. “NEM’s peer-to-peer architecture, proof of importance (POI) algorithm, encryption and multisig account support made it the obvious choice for IP Gold’s long-term goals.”

IP Gold said that digital assets, particularly those that have been around long before crypto, provide a consistent hedge and revenue stability outside of the crypto markets. The company said it uses the blockchain and smart contracts to reduce overheads and better manage the process of acquiring and monetizing digital assets, coordinating thousands of complex global transactions in the asset monetization lifecycle.

The company said the platform works by deploying transactional services on digital assets to maximize revenue generation capability. It also claims to offer asset growth and security, with downside protection and risk diversification to /IPG token holders, with a stable, ongoing 20 percent quarterly gross revenue share.

The NEM blockchain platform launched in March 2015, with features including multi-signature account contracts, customizable assets, a naming system and encrypted messaging. According to coinmarket.com, NEM was trading Saturday at USD0.16, with a market cap of USD 1.4 billion.

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