NEM is a group of individuals who trust each other to deliver and wants to shape the future of blockchain by sustaining a strong and healthy ecosystem that will contribute to the development of blockchain technology for generations to come, which will connects and benefits individuals, developers, businesses and society.
NEM created their first blockchain in 2015 by the name of NIS1 and now they are going to launch another blockchain which is known as "Symbol Blockchain". After launch of Symbol blockchain, there will be two products to maintain in NEM ecosystem.
Symbol is a next generation & open source decentralized blockchain which connects businesses, developers and individuals to blockchain and provides a platform to create mutual benefit and value together because it has increased speed, usability, security and flexibility. Symbol works on Proof Of Stake + consensus model which is modified proof of stake and has four tier structure which allow developers to update any of these tiers without disrupting the others, which improves security. Along with that, Symbol supports cross-chain swap between symbol private chain and symbol public chain.
Symbol token knows an XYM with fixed supply of approximately 9 billion. Out of which 7.3 billion will be allocated to user who are holding XEM token which belongs with NIS1 blockchain (For enrolling to get XYM tokens, please watch Opt-In demo in the video, which is added below.) and remaining 1.7 billion tokens will be created as inflationary rewards over time.
To have more understanding about "Symbol Blockchain", please watch this youtube video which is created for the same and covered following topics.
- Introduction of NEM group.
- Brief overview of NEM NIS1 Blockchain
- Complete overview of Symbol Blockchain
- Symbol Tokenomics
- XYM Inflationary rewards
- Symbol Opt-In Demo
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