Finance:Symbol (blockchain)

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Short description: Open-source blockchain computing platform


Symbol
Symbol from nem.png
Original author(s)Jaguar
Gimre
Bloody Rookie
Developer(s)Jaguar
Gimre
Hatchet
Initial release17 March 2021; 2 years ago (2021-03-17)
Development statusActive
Written inC++

Symbol is a public blockchain platform that was lived on March 17,2021.[1] It is developed as a major update to NEM. Symbol platform uses a Proof-of-Stake Plus (PoS+) consensus algorism, an modified Proof-of-Stake (PoS).[2][3][4] XYM is the native cryptocurrency of Symbol platform.[5]

Typical functions of Symbol include mosaic, multisig, aggregate transaction, etc.[1][3]

History

On January 19, 2014 , Development was called for on the Bitcointalk forums by a Bitcoin Talk forum user named UtopianFuture, and together with core developer Jaguar, development began. The goal was to create a new economic sphere based on the principles of financial freedom, decentralization, equality, and solidarity.[6]

On June 25, 2014, an open alpha test was launched, and on October 20, 2014, an open beta test was launched. And on March 31, 2015, Symbol's predecessor, NEM, launched to the public.[7][8]

In 2016, Tech Bureau published a white paper on its blockchain core Catapult. [9][10]

In 2018, a beta version of Catapult was released, and Catapult was released as a feature and open source program of the private blockchain mijin v2.[11]

In 2019, the Catapult server was updated to make it a different blockchain than NEM.[12] [13] [14] [15] [16]

On December 20, 2019, it was proposed that the blockchain "Catapult" be named "Symbol," and on January 4, 2020, a community vote decided that the name was "Symbol".[17]On February 1, 2020,  ticker symbol for Symbol platform decided  to “XYM”.[18]

In 2020, the public testnet was launched to the public.[19]

Symbol mainnet was launched on March 17,2021.[20]

Design

XYM

XYM is a cryptocurrency used as a commission when trading tokens on the Symbol platform.The maximum issuance amount is set to about 9 billion (8999,999,999)XYM .It will be issued based on the amount of XEM, the native currency of the blockchain NEM, held as of March 12, and a portion of XYM will be issued over 100 years as an inflation reward.[2][21]

Harvesting

Symbol uses Proof-of-Stake Plus (PoS+) as a consensus algorithm, and the process of block generation is called harvesting. Block generation takes about 30 seconds, during which the sum of the fee to enter the block and the inflation reward amount prepared in advance by the protocol is distributed as a reward.The reward is XYM.[2][22]

Mosaic

Mosaic is a token issued on the Symbol platform.[3] Mosaic issuers can also use the mosaic restriction, a feature that allows them to determine which accounts can trade mosaics.[2][23]

Namespace

Namespace is like a domain on the Symbol platform.[24] This will allow you to name addresses to make them easier to remember and trade, or to name mosaic to name cryptocurrency.[25]

Aggregate transaction

Aggregate transaction is merged multiple transactions into one, allowing trustless swaps.[2]

Multisig

Multisig is a function that requires signatures with multiple private keys when executing a transaction. In Symbol, in addition to the conventional multi-sig function, the multi-sig function of multiple layers is also used.[2][26]

Account restriction

Symbols have the ability to restrict transactions from a particular account.[2][27]

References

  1. ↑ 1.0 1.1 "NEMが次世代エンタープライズブロックチェーン「Symbol」をローンチ" (in ja). https://bizzine.jp/article/detail/5650. 
  2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 2.6 "仮想通貨シンボル（XYM）とは｜初心者でもわかる重要ポイントと将来性" (in ja). https://coinpost.jp/?p=208569. 
  3. ↑ 3.0 3.1 3.2 "ネム（NEM）のシンボルとは？オプトインについてや今後の動きを解説！ | Coincheck". https://coincheck.com/article/448. 
  4. ↑ "Consensus — Symbol Documentation". https://docs.symbolplatform.com/concepts/consensus-algorithm.html. 
  5. ↑ "ネム、次世代ブロックチェーンのシンボルをローンチ" (in ja). https://jp.cointelegraph.com/news/nem-group-launch-symbol-blockchain. 
  6. ↑ "仮想通貨 ネム（XEM）とは｜今後の将来性とおすすめ取引所" (in ja). https://coinpost.jp/?p=1321. 
  7. ↑ "中国のCERT報告書：NEM(XEM)が最も安全なプロジェクト" (in ja). https://coinpost.jp/?p=12200. 
  8. ↑ "NEM Launches, Targets Old Economy with Proof-of-Importance" (in en). https://cointelegraph.com/news/nem-launches-targets-old-economy-with-proof-of-importance. 
  9. ↑ "ブロックチェーン技術のテックビューロとオープンソースプロジェクトNEMが提携しMijinの新型コアエンジン『Catapult』を共通採用". http://prtimes.jp/main/html/rd/p/000000028.000012906.html. 
  10. ↑ "テックビューロが次世代の超高性能ブロックチェーンコア『Catapult』のホワイトペーパーを公開". http://prtimes.jp/main/html/rd/p/000000047.000012906.html. 
  11. ↑ "テックビューロ社が独自ブロックチェーンのミジン(mijin v..2)にカタパルト(Catapult)をリリース｜仮想通貨ニュースと速報-コイン東京(cointokyo)". https://cointyo.jp/article/10003716. 
  12. ↑ 達也, 西内 (2019-01-21). "ネム(NEM) カタパルトのBisonアップデートと3つの主要機能とは？｜CoinChoice" (in ja). https://coinchoice.net/nem-catapult-bison-update-3main-features/. 
  13. ↑ 達也, 西内 (2019-02-13). "ネム(NEM)カタパルトのCowアップデート、その内容と機能とは？｜CoinChoice" (in ja). https://coinchoice.net/nem-catapult-cow-update-features/. 
  14. ↑ 株式会社インプレス (2019-06-06). "NEM財団、カタパルトサーバーの第4マイルストーン「ドラゴン」の詳細発表 〜ハーベスト報酬の分配やモザイクトークンの発行方式を追加" (in ja). https://crypto.watch.impress.co.jp/docs/news/1188724.html. 
  15. ↑ "NEM（XEM）の報酬システムがさらに平等に｜カタパルトアップデートで「PoS+」実装" (in ja). https://bittimes.net/news/60532.html. 
  16. ↑ 達也, 西内 (2019-10-16). "ネム(NEM)カタパルト間近？Fusichoアップデートリリースが財団技術部門より報告｜CoinChoice" (in ja). https://coinchoice.net/nem-catapult-fusicho-release-tech-update-oct_201910/. 
  17. ↑ "仮想通貨NEMのカタパルト、新ブランド戦略を発表 名称やロゴの変更も" (in ja). https://coinpost.jp/?p=124062. 
  18. ↑ "仮想通貨ネムの「Symbol」、新ティッカーを「XYM」に決定" (in ja). https://coinpost.jp/?p=130341. 
  19. ↑ "仮想通貨ネムのカタパルト、パブリックテストを開始 メインネット公開日程にも言及" (in ja). https://coinpost.jp/?p=126674. 
  20. ↑ "ネムの新通貨Symbol（XYM）が誕生" (in ja). https://coinpost.jp/?p=228109. 
  21. ↑ "ネム（XEM）保有者の新通貨受取り表明、来月15日から開始へ Symbolロードマップも更新" (in ja). https://coinpost.jp/?p=177636. 
  22. ↑ "Harvesting — Symbol Documentation". https://docs.symbolplatform.com/concepts/harvesting.html. 
  23. ↑ "Mosaic Restriction — Symbol Documentation". https://docs.symbolplatform.com/concepts/mosaic-restriction.html. 
  24. ↑ "仮想通貨ネム、独自トークン発行機能におけるカタパルトでの新たなアップデートを発表" (in ja). https://coinpost.jp/?p=84219. 
  25. ↑ "ブロックチェーン・アプリケーションの開発方法｜イーサリアムとNEM（ネム）の違い" (in ja). https://coinpost.jp/?p=60080. 
  26. ↑ "Multisig Account — Symbol Documentation". https://docs.symbolplatform.com/concepts/multisig-account.html. 
  27. ↑ "Account Restriction — Symbol Documentation". https://docs.symbolplatform.com/concepts/account-restriction.html. 

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