Distributed, Fast & Secure; The LEGO of blockchains is back with more building blocks: from public assets, to name zones via cross-chain atomic swaps – Symbol Blockchain is all you need from a blockchain network.

This project was worked on in a collaboration with NEM Group Limited, in an attempt to offer a trivial solution for the development of blockchain applications and Web3 with scalability, availability and security in mind.

Table of contents

• What is Symbol Blockchain?
• Benefits of using Symbol Blockchain
• Screenshots of dHealth Network
• Sponsor this project

What is Symbol Blockchain?

Distributed, Fast & Secure; The LEGO of blockchains is back with more building blocks. From public assets, to distributed name zones via network-wide account and assets restrictions or metadata and cross-chain atomic swaps features – Symbol from NEM is all you need from a blockchain network.

The Symbol from NEM project was developed under the codename of Catapult, and is the successor of NEM, a blockchain network that exists since 2015 and has been up ever since. This project took 5 years of development and was finally released by the end of 2020. It features an impressive amount of next-generation blockchain features including:

• Configurable multi-tier architecture for nodes
• Secure on-chain multi-signature accounts
• Custom token issuance and governance
• PoI, PoS+, dPoS consensus algorithms
• Distributed names registry and aliases
• Private-, Public- or Hybrid blockchain
• Atomic cross-chain swaps capacity
• Voting peers for deterministic finality

Our team supported the NEM Foundation in the design and definition of the next-generation blockchain Symbol from NEM, and developed client applications and libraries that integrate with this newly created blockchain network. You can find our memorandum and a publication about this project here.

This software is built using C++, Boost, Mongo, ZMQ, RocksDB and GTest and released under an open-source LGPL-3.0 license in collaboration NEM Group Limited.

Benefits of using Symbol Blockchain

Multi-tier architecture

Nodes on the Symbol blockchain network can be of different types depending on the operations they aim to run. The catapult protocol splits the network workload by concern such that block creators can point their computing power on the actual task of creating blocks, and validators can help balance the network load and overall network throughput.

Moreover, with this multi-tier architecture, Symbol from NEM offers a highly scalable approach that enhances availability and security of data.

PoS+: Improving Proof-of-Stake

The core developers of the NEM community designed a new iteration of their previously successful Proof-of-Importance algorithm (PoI) that is running on the NEM blockchain. This new consensus algorithm defines several critical variables to determine the importance of a stake (balance) on the network, including: account balances, total fees paid and total blocks created.

This algorithm is notably useful to implement next-generation governance schemes, e.g. Distributed Autonomous Organizations (DAO), and to add reputation as an input to automated governance or operational distribution of Web3 integrations, e.g. Automated royalties (NFTs).

One protocol for many networks

Symbol from NEM, and its Catapult protocol source code, can be used to create public-, private- and hybrid blockchain networks with just [a few] configuration changes. Our team will help you configure the governance aspects of the network, the crypto-economics, as well as the initial distribution of your tokens.

The beauty of having one protocol for many different networks is that Layer-1 and Layer-2 solutions do not require any code changes to run, given an implementation on a sibling network. Software development kits (SDK) and libraries can be configured and avoids that you would have to publish these.

Note: re:Software S.L. does not offer or sell financial advise and does not act as a custodian. Instead, we will always make sure that what belongs to you, actually does belong to you, by providing you with the necessary tools and libraries to accommodate your operational, financial and governing roles on the network.

Screenshots of Symbol Blockchain

Sponsor this project

We use multiple platforms to let you sponsor us and you are free to use the platform you prefer. We are thankful for any contributions you may make to us and please, rest assured that the donated funds will always be used to continue running our operations.