Public Testnet and SYMBOL Launch

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NEM Announces Public Testnet Launch, Introduces New Product: “SYMBOL From NEM,” A Next-Gen Full-Feature Blockchain Engine
NEM rebrands enterprise blockchain solution and opens public Testnet to partners, community, consumers

NEW YORK, NY— FRIDAY, JANUARY 10, 2020The NEM Foundation has announced the public testnet and new name for SYMBOL From NEM, the blockchain platform developed under the codename “Catapult.” SYMBOL is a full-featured solution for enterprises supported by a plugin engine that allows effortless interoperability and configuration. SYMBOL’s plugins enable digital asset creation, decentralized swaps, multi-level multi-signature accounts, advanced account systems, business logic modeling, and interaction between public and private data. In addition to the public release of SYMBOL, the NEM Foundation invites developers and enthusiasts to join the SYMBOL public chain testnet.

Chief Technical Officer of NEM Foundation Nate D’Amico said: “SYMBOL is built for scale with frictionless onboarding and adoption for developers and faster POC to production development. We’re excited to welcome the community and partners to participate in our testnet in preparation for becoming validators on our mainnet.”

As unveiled during the successful NEM community vote, SYMBOL embodies a new brand and direction for NEM’s enterprise-focused blockchain solution, which reached complete status at the end of 2019. The subsequent testnet launch is in preparation for the mainnet scheduled to go live in early 2020.

NEM Foundation President Alexandra Tinsman said: “Our goal is to transform the way enterprises do business. We sought to build a secure and flexible solution that reduces costs and business friction, increases trust, and expands the flow of ideas to accelerate innovation. The SYMBOL blockchain does all this for a multitude of industries.”

Following the launch of the SYMBOL token, the XEM token will remain as a functioning currency on the NIS1 platform. SYMBOL will coexist alongside the original NIS1 chain—a token allocation opt-in process is currently underway. Current XEM token holders may elect to opt-in on a 1:1 basis for their SYMBOL tokens before or after the snapshot of XEM balances is taken. After the snapshot has occurred, the opt-in period will be several years.

For more information and to join the public testnet, visit: https://nemtech.github.io/guides/network/running-a-test-net-node.html#running-a-test-net-node

President of NEM Foundation Alexandra Tinsman and Chief Technical Officer Nate D’Amico are available for interviews.

About NEM Foundation

NEM Foundation is a global blockchain-first company, incorporated in Singapore and launched in 2017, two years after the launch of NEM (XEM) an off-the-shelf enterprise-grade blockchain platform. The Foundation was created to introduce, educate, and promote the use of the NEM blockchain technology platform on an international scale to all industries and institutions. For more information, visit nem.io.

20 Likes

Oh my God it’s here!

9 Likes

Finally…the beast is here

3 Likes

how do you opt-in ?

3 Likes

Waiting for the next message.

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It will be through the wallet, but please stand by for the official announcement.

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To which media was this press release distributed? I only saw on Yahoo finance, CryptoNinjyas and CoinPost (Japan). I think they are too few, but aren’t the other major crypto medias reporting?

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There are, it went out over the business wire, which is at 169 release syndications plus some organic standalone media.
The publications reporting on it are:

  1. Yahoo Finance
  2. Crypto Ninjas
  3. CoinPost
  4. Cryptocurrency Analytics
  5. FX Street
  6. BlockTribune
  7. BusinessWire
  8. Crypto Post
    There will be more coming in but as of Friday at11:30 am ET, (USA) we have 172 media hits totalling 49.9 million unique visitors.
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Why not approach these major media?
・ CoinDesk (global / Japan)
・ Cointelegraph (global / Japan)
・ CCN
・ Virtual currency Watch (Japan / sponsored by NF)

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Once the PR is put out over the wire, it is up to the individual outlet to run it or not (if they are outside the syndication).
The PR firm felt that the business wire was the best route to take for maximum coverage.
Cointelegraph is prohibitively expensive to post a PR to.

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What will the time frame be to opt in? If your traveling some where for 2 weeks with out regular internet access for example you could be left out. Will the window be a month - a couple days? Which wallet version is required. Will non xem wallets like Exodus support the air drop? Is this technically an air drop or a hard fork? It’s the first, right?

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What will the time frame be to opt in?

Six year.

Is that a joke? Or are you serious?

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Will Symbol be enterprise only, or is it simply optimized for enterprise?

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I feel anxious about the PR method…
The marketing team seems to take a light look at the Japanese market…

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Up to 6 years after launch is the proposed timeframe for claiming. He is correct.

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Will raise your concern with the agency and see of we can get more coverage.

3 Likes

Hi,

When creating an account on the new desktop wallet will be good if you could copy the Mnemonic word with just a simple click, to store it on a keepass for example…

Can someone send me some test coins? TD4IQ3XOCHXXOO674HW332Y4JHGZUFSTL25EG23N

Thanks

1 Like

@CryptoBeliever