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About Symbol
- Launched in March 2021 as a blockchain platform and spiritual successor to NEM
- Features: proof-of-stake-plus (PoS+) consensus algorithm, rule-based tokens (mosaics), namespaces, multisignature accounts, and aggregate transactions
- Client written in C++
- Popular in Japan and Korea with a community on Twitter, LINE, and KakaoTalk
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Notable projects:
- QUEST: bounty and tipping platform for creators
- SYMBOARD: loyalty and rewards card for businesses
- THE TOWER: endless dungeon crawler
- NFT DRIVE: on-chain media and content storage service
The Essence of Symbol
Symbol is a cutting-edge blockchain platform that debuted in March 2021, serving as the spiritual successor to NEM. This innovative platform boasts a novel consensus algorithm dubbed proof-of-stake-plus (PoS+), alongside a range of groundbreaking features, including rule-based tokens (termed mosaics), namespaces, multisignature accounts, and aggregate transactions. Notably, its client, Catapult, is built using C++.
Symbol boasts a devoted following in Japan and Korea, where a thriving community has taken root. This enthusiastic group can be primarily found congregating on Twitter, LINE, and KakaoTalk. Notably, some of the most impressive projects built upon Symbol include:
- QUEST | A pioneering bounty and tipping platform tailored to empower creators. Stay updated by following the official Twitter account.
- SYMBOARD | A cutting-edge loyalty and rewards card, expertly designed for businesses. Follow the official Twitter account for the latest updates.
- THE TOWER | An immersive, endless dungeon crawler experience.
- NFT DRIVE | A revolutionary on-chain media and content storage service, redefining digital storage. Follow the official Twitter account for the latest news.
- COMSA | A groundbreaking NFT marketplace, meticulously crafted for the Japanese cryptocurrency community.
In November 2021, a pseudonymous collective of cryptocurrency experts and enthusiasts orchestrated a fork of Symbol, aptly titled Cyprus. This pivotal hard fork heralded the community’s ambitious vision to transform Symbol into the world’s premier omnichain platform, distinguished by content-specific, scalable shards, and fortified by the robust zk-STARKs technology.
Symbol seeks to address the inherent limitations of EVM-based platforms and omnichain solutions, where security is typically defined at the smart contract level rather than network-wide; where Layer 2 validators are often centralized and lack incentives; and where new features and functionality are dictated by central client teams, rather than being driven by a fair and open market.