**Proof of Importance**(POI ) is a new hashing algorithm that is found in cryptocurrencies like NEM. The algorithm time stamps the transactions as blocks are generated. While Proof of Work reward the miners with computing power and Proof of Stake rewards coin holders (stakers) Proof of Importance work fundamentally different. The Proof of Importance algorithm determine the users participation in the network. So transactions to and from a wallet, as well as amount of coins staked is rewarded.