What makes Symbol superior?
Are you looking for a solution to your business using the emerging hot blockchain technology? There are thousands of available choices in the market right now. However, if you look at each one closely, they lack what it takes to power possibilities. Symbol is the solution to the problem of most blockchains. In this article, I will explain what makes Symbol superior over the others.
First of all, Symbol is a hybrid chain that integrates public and private into once chain for your businesses. How cool is that? This means that you can opt to use a private or public chain. For one thing, it saves costs since you have full control of how much fees you want to spend or limit. The other thing is the speed of doing business because you are just using the same technology, an integrated chain for both public and private.
Next, Symbol is also called NEM 2.0 or Catapult. It is an upgrade version of NEM blockchain. NEM blockchain or NIS1 is a smart asset chain and considered one of the pioneering chains in the industry along with other popular chains such as Ethereum, Ripple, and so on. Symbol has been developed by the same people that develop NEM blockchain but unlike the first version, Symbol is open-source. It is scheduled to be launched late in November 2020.
The third strong point of Symbol is interoperability. Interoperability is a major issue that many blockchains face today. This means that many chains are not capable of interacting with the other chains so you need two or several chains in order to be successful in your business. Symbol solves this problem because this technology is designed to be interoperable with other business systems. Symbol’s APIs utilize the most popular language codes available out there and process seamless integration of systems and networks.
Finally, Symbol ensures increased security. In general, blockchains are secured. However, there have been many instances in the past few years when the security of some chains has been breached. One concrete example is the DAO attack on Ethereum in 2016 in which the hackers were able to penetrate the system and managed to steal millions of dollars just because of the flaw in the smart contracts. This is not and will not be the case with Symbol. Symbol guarantees increased security of your assets. NEM blockchain has never been hacked and with Symbol, the upgrade version, your assets, and tokens are completely secured. This is because Symbol utilizes a contract plug-in framework with multi-signature and multi-level features that makes the technology more resilient to human error and network attacks.
Symbol has what it takes for your business to succeed. It is a hybrid solution developed by the same people that created NEM blockchain but with increased security, enhanced interoperability, and open source. This technology is the connector that powers possibilities. For more information, visit symbolplatform.com.