Symbol price

XYM

#721

Symbol is a blockchain platform launched in March of 2021. It's the spiritual successor to NEM, featuring a new consensus algorithm called proof-of-stake-plus (PoS+), rule-based tokens (called mosaics), namespaces, multisignature accounts, and aggregate transactions. Its client, Catapult, is written in C++.

Symbol has a cult following in Japan and Korea. The community can be primarily found on Twitter, LINE, and KakaoTalk. Some of the most notable projects built on Symbol include:

• QUEST | a bounty and tipping platform for creators. Follow the official Twitter account here.
• SYMBOARD | a loyalty and rewards card for businesses. Follow the official Twitter account here.
• THE TOWER | a endless dungeon crawler.
• NFT DRIVE | a on-chain media and content storage service. Follow the official Twitter account here.
• COMSA | a novel NFT marketplace developed and designed for the Japanese cryptocurrency community.

In November 2021, Symbol was forked by a pseudonymous team of cryptocurrency experts and enthusiasts alike. Titled Cyprus, this hard fork signaled the community’s intent to turn Symbol into the world’s leading omnichain platform with content-specific, scalable shards - powered by zk-STARKs.

Symbol aims to solve for problems inherent in EVM-based platforms and omnichain solutions, where security is often defined at a smart-contract level (versus a network-wide level); where L2 validators are centralized and not incentivized; and where new features and functionality are decided by central client teams versus a fair and free market.