Live Breaking News & Updates on Nem Announces Enterprise Ready Proof Of Stake Blockchain Platform Symbol

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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 th ....

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