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NEM Group Ltd. announced Monday the launch of a new enterprise-facing distributed ledger blockchain platform named Symbol designed for programmability and security.
Symbol uses a blockchain technology known as proof-of-stake. That’s where a collaborative algorithm sets the next block based on a set of randomized and incentivized peers depending on how many coins they hold and how long they’ve held them, signaling their “stake” in the blockchain’s longevity.
With this launch also comes XYM, which is the native currency Symbol uses for transactions on the NEM platform network.
“Symbol’s feature-rich platform makes it suitable for a number of industries and use cases, spanning the enterprise, financial services, regulated asset and wider blockchain spaces,” said NEM Chief Executive David Shaw. “We believe we are at the start of an entirely new economic and digital system that is more inclusive and accessible. Symbol is uniquely positioned at the forefront of
NEM Launches Symbol, The Next-Generation Enterprise-Grade Blockchain Platform
GIBRALTAR, March 15, 2021 /PRNewswire/
NEM Group today announces the launch of
Symbol, its next-generation Proof-of-Stake+ (PoS+) Public Blockchain. Boasting enterprise-grade programmability and security, Symbol from NEM brings cutting edge technical features which can be leveraged by innovative projects building fintech, healthcare and supply chain products at the heart of the new economy. With the launch comes
XYM, the native currency of the Symbol from NEM platform, used for transactions on the network.
Commenting on the launch, David Shaw, CEO of NEM Group, We believe we are at the start of an entirely new economic and digital system that is more inclusive and accessible. Symbol is uniquely positioned at the forefront of the movement towards decentralization, digitization and tokenization. Symbol s feature-rich platform makes it suitable for a number of industries and use cases, spanning t
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December 16, 2020 @ 9:58 pm By Omar Faridi
NEM Group, which supports the development of Symbol from NEM, a “trusted” and “secure” enterprise blockchain that streamlines business processes, has confirmed the launch of its final testnet update on Symbol, an enterprise-grade blockchain solution that’s expected to go live in early 2021.
As mentioned in a release shared with
Crowdfund Insider, this upgrade brings “the final phase of soak and performance testing on Symbol, freezing code in its current iteration and marking the final step in preparing the platform for its mainnet launch.”
Dave Hodgson, CIO of NEM Group, stated that this particular milestone “represents the culmination of years of heads down building, testing and collaborating to deliver Symbol by the Core Developers, NEM community and various supporting entities.”