The NEM Foundation Is Coming Up With Its New Public Chain Testnet SYMBOL

  • On March 5, The NEM Foundation came up with the statement of firming its Japanese Team for the launch of SYMBOL.
  • The Chairman of NEM Foundation Alexandra Tinsman defines the Japanese market is a future-oriented market.
  • As reported during the successful NEM community vote, SYMBOL represents a new brand in the direction of NEM’s enterprise-focused blockchain solution.

The NEM Foundation has announced the public testnet SYMBOL from NEM. It is a blockchain platform established under the codename ‘Catapult.’

On March 5, The NEM Foundation came up with the statement of firming its Japanese Team for the launch of SYMBOL. SYMBOL is a full-fledged solution for the business that is supported by a plugin engine that allows trouble-free interoperability and configuration. 

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SYMBOL’s plugin enables decentralization swaps, digital asset creation, multi-level multi-signature accounts, business logic modeling, communication between public and private data, and progressive account system.

The Chairman Speaks

With the public release of SYMBOL, the NEM foundation offers developers and their fans to join the SYMBOL public chain testnet.

The related materials are made available in 5 different languages proving the company is working on an international level and that not all are English speaking.

The Chairman of NEM Foundation Alexandra Tinsman defines the Japanese market is a future-oriented market. He commented that they have the sagacity to identify the potential of the initial phase of the venture.

Adding to his statement Tinsman also said that the NEM’s goal is to renovate the way of doing business by the industry. NEM sought to build a safe and flexible solution that reduces money and business friction. SYMBOL will also prove in building trust and increasing the flow of ideas to accelerate innovation.

As reported during the successful NEM community vote, SYMBOL represents a new brand in the direction of NEM’s enterprise-focused blockchain solution. SYMBOL is reached to its complete status at the end of 2019 and is all set for going live in the first half of 2020.

SYMBOL is expected to launch within 2020 and also, the Japanese companies and local governments will use the technology as well.

About The NEM Foundation

Created in 2016, The NEM Foundation is a Singapore based enterprise-grade blockchain platform.  Its key features include customizable assets, multi-signature account contracts, encrypted messaging, a naming system, and an Eigentrust++ reputation system.  It is the most successful blockchain technology project in the crypto ecosystem.

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.

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