Symbol has launched. NEM is now a two chain ecosystem
David Shaw, CEO – NEM Group
Symbol from NEM officially went live on 17 March 2021 – a date which marks the beginning of the next chapter in NEM’s exciting story. The launch of Symbol is the culmination of a lot of hard work by many of the NEM community over the last 4 years.
It represents a major step in NEM’s journey towards building a new economy based on digitization, tokenization and decentralization. I 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 that shift.
Symbol will sit at the intersection between individuals, businesses and blockchain. Symbol is the next-generation Proof-of-Stake+ (PoS+) blockchain boasting enterprise-grade programmability and security. It brings cutting-edge technical features which can be leveraged by innovative projects building the new economy.
The feature-rich Symbol platform makes it suitable for a number of industries and use cases, spanning the enterprise, financial services, regulated assets and wider blockchain spaces. NEM and Symbol have a vital role to play, alongside and operating with other platforms, in creating these new opportunities.
The platform enables the creation of specialized digital assets, with configurable properties, and a unique identifier and can enforce logic-based account or asset-based restrictions at a protocol level.
Going forward, NEM is committed to being a two chain ecosystem and Symbol will sit alongside NEM NIS1, both with exciting futures and roles to play.
NEM NIS1 is a robust blockchain that has suffered zero outages since launch and will continue to be a strong and cost-effective option for building projects and developing solutions. The open-sourcing of NEM NIS1 will be one of the first steps in evolving the role of NEM NIS1.
We will also continue to build out and strengthen the NEM ecosystem around NIS1 and Symbol, with partnerships around the world increasing decentralization and providing easier and better access to those who want to join NEM.
Congratulations to everyone across the NEM community who has contributed to the creation and launch of Symbol. Today is a big step towards an even brighter future for NEM and the realisation of a new, better economic system.
It really is true to say that together, everything is possible.