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Symbol is a blockchain platform launched in March 2021 as a successor to NEM, incorporating a unique proof-of-stake-plus (PoS+) consensus algorithm. It facilitates rule-based tokens (mosaics), namespaces, multisignature accounts, and aggregate transactions. Implemented in C++ through its client Catapult, Symbol supports multiple notable projects such as QUEST for bounties, SYMBOARD for loyalty rewards, THE TOWER game, NFT DRIVE for content storage, and COMSA, a Japanese-focused NFT marketplace. Symbol underwent a hard fork named Cyprus in November 2021 to boost its omnichain capabilities using zk-STARKs. This upgrade aims to resolve challenges faced by EVM-based and omnichain platforms, enhancing security and decentralization. With a total supply of over 8.3 billion tokens, Symbol has gained traction in Japanese and Korean markets. Its current price is $0.01857409, reflecting a recent 37.80% increase, and is actively traded across 46 markets.
Symbol is a blockchain platform launched in March 2021 as a successor to NEM, incorporating a unique proof-of-stake-plus (PoS+) consensus algorithm. It facilitates rule-based tokens (mosaics), namespaces, multisignature accounts, and aggregate transactions. Implemented in C++ through its client Catapult, Symbol supports multiple notable projects such as QUEST for bounties, SYMBOARD for loyalty rewards, THE TOWER game, NFT DRIVE for content storage, and COMSA, a Japanese-focused NFT marketplace. Symbol underwent a hard fork named Cyprus in November 2021 to boost its omnichain capabilities using zk-STARKs. This upgrade aims to resolve challenges faced by EVM-based and omnichain platforms, enhancing security and decentralization. With a total supply of over 8.3 billion tokens, Symbol has gained traction in Japanese and Korean markets. Its current price is $0.01857409, reflecting a recent 37.80% increase, and is actively traded across 46 markets.
Symbol is a blockchain platform and cryptocurrency (XYM) that launched in March 2021. It serves as a successor to NEM, introducing proof-of-stake-plus (PoS+) consensus. The platform supports rule-based tokens (mosaics), namespaces, multisignature accounts, and aggregate transactions. Symbol is notably used in projects like QUEST, SYMBOARD, THE TOWER, NFT DRIVE, and COMSA, targeting diverse uses from tipping to on-chain content storage. Its Catapult client, built in C++, is central to its operations.
Symbol's proof-of-stake-plus (PoS+) is an enhanced consensus mechanism building on traditional PoS systems. It incentivizes users to participate in staking to secure the network and validate transactions, thus earning rewards. PoS+ emphasizes a fair distribution of staking rewards, aiming to overcome challenges found in existing PoS and EVM-based systems. This approach supports Symbol's broader goal of decentralization and network-wide security, making it attractive for developers and stakeholders.
Symbol offers several benefits, including an efficient PoS+ consensus mechanism, enhanced network security, rule-based tokens, and comprehensive multi-signature and aggregate transaction support. It stands out with its omnichain capabilities, scalable shards using zk-STARKs, and decentralized decision-making processes. Developers benefit from its C++ client, enabling high performance and reliability. The platform's features cater to varied use cases, from gaming and NFT marketplaces to loyalty programs and content storage.
Symbol differentiates from Ethereum by addressing specific challenges in EVM-based platforms, such as centralized non-incentivized L2 validators and security at the smart-contract level. With its PoS+ algorithm, it focuses on network-wide security and decentralized governance. Symbol's use of scalable shards and zk-STARKs technology allows for efficient data handling across omnichain networks. These features make Symbol a compelling choice for developers seeking solutions beyond Ethereum's capabilities in certain use cases.
Symbol hosts various projects that showcase its versatility. Notable examples include QUEST, a platform for bounties and tipping; SYMBOARD, facilitating loyalty rewards for businesses; THE TOWER, an engaging endless dungeon game; NFT DRIVE, a service for on-chain content storage; and COMSA, an NFT marketplace focused on the Japanese community. These projects utilize Symbol’s capabilities in token creation, transaction management, and multi-signature accounts to drive innovative applications within their industries.
If you encounter issues with Symbol, it's recommended to consult the official Symbol Documentation at [Symbol Documentation](https://docs.symbol.dev/), which offers comprehensive guides and troubleshooting tips. Engaging with the Symbol community on platforms like Twitter or forums can also provide valuable insights and peer support. For technical concerns, reaching out to Symbol's support or development team through their official channels will ensure expert assistance to resolve any challenges swiftly.
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