AA NewsBlockchainCrypto NewsSecurity Tokens

NEM’s Symbol (XYM) Platform Finally Launched After Delays

Originally planned for a March 15 launch, the Symbol platform is finally on mainnet following almost four years of development.
The proof-of-stake enterprise grade blockchain enables the creation of specialized crypto assets with configurable properties that can act as security tokens. It is an evolution of the original NEM blockchain which was launched in March 2015.
NEM Group CEO, David Shaw stated:
“Symbol Mainnet officially went live on 17 March 2021 – a date which marks the beginning of the next chapter in NEM’s exciting story. Symbol will sit alongside NEM NIS1, making NEM officially a two chain ecosystem.”

Today, we are proud to announce a major milestone in a 4 year journey. 🙌
Today, #Symbol launched, and a new NEM future begins.
👉https://t.co/lvR3mJxc67
🍾🥳🤩🎉#NEM #Symbolplatform $XYM #PoweringPossibility pic.twitter.com/oHPE3x306F
— NEM (@NEMofficial) March 17, 2021
The launch was delayed due to a network configuration issue that caused unexpected node behavior according to a forum post on the incident.
Custom Asset Tokenization
Symbol will allow any asset from real estate to intellectual property to commodities or stocks to be tokenized as a regulated security token. The announcement elaborated:
“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.”
A feature called ‘mosaics’ will permit the creation of these specialized assets that can represent shares of any other asset that is tokenized. According to the announcement, each mosaic has configurable properties and …
Story continues on Crypto Potato

Related posts
AA Newsblockchain adoptionCrypto NewsNon-Fungible Token (NFT)

These Musicians Are Embracing NFTs in Very Different and Clever Ways

The music scene is quickly becoming more and more entwined with NFTs, as more artists turn to digital tokens as a way to expand their creative horizons or experiment with new ways to profit from their work. Some talented artists…
AA NewsADABTCADAUSDCardanoCardano (ADA) PriceCoinbaseCrypto NewsSocial

Coinbase Pro to List Cardano: ADA Skyrockets 20%

The largest cryptocurrency trading platform based in the US, Coinbase, has announced the addition of the fourth-largest digital asset by market cap, Cardano (ADA), on its Coinbase Pro version. Inbound transfers are already enabled, while trading will launch “on or…
AdoptionBlockchainNewsTechnologyTrading View

IOTA Foundation joins CHAISE consortium to impart blockchain education in EU

IOTA Foundation announced a new partnership with CHAISE consortium. Alongside blockchain tech firms such as INATBA, Fujitsu, and European Digital SME Alliance, IOTA and CHAISE will provide blockchain The post IOTA Foundation joins CHAISE consortium to impart blockchain education in…