What is Symbol (XYM)?
Symbol —— A Trusted and Secure Enterprise Blockchain Powered by NEM
- Symbol is a trusted and secure enterprise blockchain that smooths business friction, increasing the flow of data and innovation to supercharge the creation, exchange and protection of assets. Symbol is purpose-built to help businesses cut costs, reduce complexities, and streamline innovation.
- XYM is the native currency of the Symbol public blockchain. XYM is used for payment transactions to incentivize a network of public nodes that process and record transactions, so that XYM has actual basic value like currency in a normal operating economy.
- Delivered by NEM, Symbol is the core technology powering the ecosystem alongside the NEM Group, NEM Ventures, and NEM Trading.
Symbol Key Metrics
Symbol is a new generation of open source, decentralized platform that helps to lead the development of blockchain. Symbol is built based on the advantages of NEM, inheriting the superior technology, simplicity, and powerful belief system of the previous generation platform, but also enhancing functionality, flexibility, speed and ease of use. Symbol is a reliable and secure value exchange network for commerce. It can safely exchange all assets and establish a connection between commerce and blockchain, which can alleviate business friction, increase data flow and innovation capabilities, thereby enhancing asset Create, exchange and protect. Symbol is designed to help companies cut costs, reduce complexity and simplify innovation.
Symbol was launched in March 2021, using a unique hybrid (public/private) architecture that allows companies to benefit from the transparency provided by the public chain, while also allowing data restrictions and encryption measures to obtain more confidential information. Through major upgrades to flexibility, security, speed and ease of use, the Symbol platform is the best-in-class blockchain enterprise solution.
XYM is the native currency of the Symbol public blockchain. XYM is used for payment transactions to incentivize a network of public nodes that process and record transactions, so that XYM has actual basic value like currency in a normal operating economy.
Delivered by NEM, Symbol is the core technology powering the ecosystem alongside the NEM Group, NEM Ventures, and NEM Trading.
NEM Group is a parent company designed to support the growth of the NEM ecosystem leading up to the launch of Symbol (NEM 2.0), NEM’s next generation enterprise blockchain and NEM NIS1, NEM’s original blockchain platform.
Formed in 2020 by a team of experienced leaders and enterprise experts, NEM Group is a streamlined commercial governance structure overseeing and coordinating the activities of NEM Software, NEM Trading and NEM Ventures, to ensure the delivery of Symbol and support the growth of the NEM ecosystem.