Symbol; A new world brand from NEM
Hello, Blockchain fans,
I’ve seen a joyous flurry on the humidity platform lately. On Twitter, LinkedIn, and medium, the words NEM, Symbol, and NEM Hub often come across me. NEM is a well-respected blockchain smart contracting platform that is well known to people who watch Blockchain technology closely like me. But the recent flurry of this reputable and trusted platform has come from preparing a brand new product for the blockchain space. Symbol Blockchain and XYM are set to launch under the NEM brand. Indeed, the Symbol platform has many exciting features. I want to share with you what I have learned about this brand new (Symbol is a blockchain network written from scratch) blockchain platform.
The Symbol is specifically aimed at the business world. It was produced by the team that created the NEM blockchain. The symbol platform is faster, flexible, secure, and user-friendly. It is a masterpiece written from scratch based on the business world’s needs by using the NEM blockchain team’s experience.
Critical Features Of Symbol Blockchain:
1-Hybrid Symbol Blockchain is resistant to network attacks thanks to a customizable smart contract plug-in encoded from scratch.
2-The Add-on approach provides flexibility for the business world to use the network and shortens development and implementation time.
3-Tier architecture reduces the total cost of ownership and improves network performance.
4-Platform’s APIs enable Symbol’s seamless integration with other networks and blockchains.
5-Can combine multiple transactions using single-use smart contracts. Combining transactions allows for the establishment of advanced logic such as reliable swaps, escrow transactions.
6- Mosaics represents interchangeable fixed assets. A Mosaic piece can contain data with very different purposes, such as a token, prize score, stock, and votes. (Such as LBCoin collectible coins to the manufacture for Lithuania)
Tokenomics: Symbol Token (XYM):
XYM total Supply: 7.3 billion. The maximum supply at XYM, which has a bitcoin inflation model, is limited to 9 billion. Unlike Bitcoin, halving will be performed in a more balanced form every year, rather than every four years.
The Symbol platform is very similar to the consensus model POS. However, it uses the term harvesting instead of mining. The PoS consensus is privatized with proof of business POV prominence in the NEM blockchain. In Symbol blockchain, the XYM amount of the operator running the node affects the severity ranking. And benign nodes are also rewarded by taking Operation priority.
Node operators from all corners of the world ensure the robust and decentralized operation of the Symbol protocol.
In Symbol blockchain, anyone with an XYM wallet can win stake prizes with the delegation system.
XYM holders who do not run nodes transfer their stakes to a node operator. The operator receives 25% of the prize, and the delegated harvester receives 75%. Thus XYM owners generate passive income during the time they hold their tokens.
Summarize;
The Symbol is a brand new product of the NEM smart contract platform that has proven itself in the blockchain field and has enterprise-level customers in Malaysia, Ukraine, and finally, Lithuania. Symbol’s brand icon, designed with a NEM brand, is a connector. Like connectors, Symbol Blockchain is ready to build the world of the future by combining business with blockchain technology.
The NEM Hub has been activated with great energy for the launch of the Symbol and XYM token. Come on, be with us to introduce the Symbol platform to the world of Blockchain. Earn XEM=XYM while working with NemHub and contribute to the creation of the world of the future.
Useful Links:
Twitter: https://twitter.com/symbolplatform Website:https://symbolplatform.com/
LinkedIn: https://www.linkedin.com/organization-guest/company/symbolplatform
Github: https://nemtech.github.io/
Official Twitter: https://twitter.com/NEMofficial
Community Hub: https://community.nem.io/
Community Hub Twitter: https://twitter.com/NEM_Hub
