The Symbol platform was fully launched after four years of work by the New Economy Movement (NEM).
The launch of the mainnet was initially set for March 15 but changed following issues related to network configuration that caused disruption to nodes.
The announcement was made personally via NEM's official Twitter account this afternoon Malaysian time.
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
For the record, Symbol is an early blockchain evolution of NEM launched in March 2015. This means, indirectly NEM is now a two chain ecosystem.
Symbols are platforms that allow any asset (a feature known as ‘mosaics’), ranging from real estate, intellectual property, commodities or stocks to be a law-compliant token.
On March 12, NEM took a snapshot of their blockchain to distribute Symbol’s native token, XYM to NEM investors.HEM holders will get XYM in the same amount of XEM holdings when the snapshot was taken.
XYM tokens are used to pay for transactions as an incentive to a network of public nodes that process and record transactions. The distribution has been supported by several exchanges including Binance, Bittrex, Poloniex, HitBTC and KuCoin.
At the time of writing, XEM is trading at $ 0.3 with an increase of 1.47% in 24 hours. Meanwhile, XYM based on Neironix recorded a value of $ 0.35.
