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According to coindesk research, initial coin offerings (ico) have yielded 6.3 billion usd at the very beginning of the new quarter. Importantly, electric icos are made possible by blockchain-based smart contract platforms. Smart contracts have been used as a real revolutionary blockchain tool, as young ladies are able to perform calculations of the overall finish, and in addition to improve existing solutions. Using automation, smart contracts are served on predetermined terms. They use software codes to automate business processes, the implementation of which takes place in a matter of hours. Such smart contracts provide benefits in diverse industries, including but not limited to fund management, real estate, escrow, legal, banking and information services.
In addition, the ever-growing size of the blockchain market has caused a surge attractiveness to investments in cryptocurrency, and in addition to the blockchain technology that provides it (smart contracts). Entrepreneurs show a lot of attention to creating innovative business solutions that are not in vain called faster, more proven and more transparent. From weathering the development of similar applications to unlocking the possibilities of crowdfunding, the landscape of entrepreneurship is changing with blockchain technology. And therefore blockchain developers are implementing secure smart contract platforms, one of which is nem, in order to facilitate customized announcements.
Nem, local network of smart connections
Launched at the beginning of spring 31, 2015 and written in java, the nem network can be used as public private Crypto Anonymization Techniques registries. Moreover, nem users use a currency called xem, such as ether in ethereum, when making transactions on the nem resource. There is also another consensus algorithm known as a passport of importance (poi) that rewards visitors for actively translating online.
Basically, nem uses a different method than ethereum. It can provide a site with optimally built-in services that developers can use at any time when building their applications. With nem, there is no way for programmers to learn certain programming languages, which makes it acceptable to anyone. Moreover, nem manages hundreds of operations per minute.
The goal of the nem ecosystem is to provide innovative blockchain solutions to various enterprises based on decentralized consensus, thus preserving the main added value of the distributed network. . It has exceptional enterprise market services, such as moving xem from a single account to any, message encryption, mosaic smart assets, multi-signature accounts, notary services, and more. And it's now launched with a different symbol chain that offers additional great features for the nem ecosystem.
New chain: symbol
Migration from nem nis1 to symbol created a hybrid network that is already popular in the corporate market. Symbol will give you the benefits of public and local network in parallel for the purpose of your projects.
Nem nis1 is the original blockchain offering from nem for five years now. Which was created and coded by nem. Community for scalability and tempo and optimized for the developer sandbox. Its strongest application programming interface (api) is used with all programming language. Beyond that, it lays out attractive and customizable solutions through unique built-in functions.
On the other hand, nem plans to launch the symbol module chain publicly on january 14, 2021. This enables enterprises to reduce investment, reduce complexity, and streamline innovation. At the same time, it is made up of a multi-layer network of nodes with significant improvements in speed, flexibility and security to effectively provide exclusive vehicles for entrepreneurship. It is able to give enterprises unique technical advantages in these areas, such as many convenient configurations, scalability and network security.
For many years, the project founders have worked tirelessly to advance the internet, creating a symbol in the role of local online to connect to the internet nis1. He has implemented a hybrid network that is capable of doing virtually any combination of cross-metric decisions, starting from various degrees of decentralization and centralization.
The built-in features of symbol include multi-level, multi-signature accounts, advanced write restrictions, mosaic restrictions, cross-chain transactions, metadata controls, integrated hybrid public and private blockchain, and mosaics. In other words, the character is: 1 xem = 1 xem 1 xym after the snapshot. By participating, xem holders will receive a xym balance equal to their xem balance during the snapshot process.
In addition, to take advantage of the powerful opportunity to quickly expand the availability of xem asset, nem is partnering with fintech startup stakehound. With this, xem assets will be compatible and easily accessible against ethereum. To better engage the piece trade, nem implements a similar process with integration into the defi protocols. Therefore, the nem asset from ethereum will be a staked version of the xem token, the price of which will increase initially. Thus, staked xem (stxem) will be available on automated market makers like uniswap, with implementations of the loan protocol and implicit amm, they can be balancer.
