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NEM: Community-Led Public Chain with a Pluggable Private Network

By July 17, 2020 No Comments

The strength of the NEM foundation blockchain ecosystem remains the community, it’s a completely autonomous community-driven project that has come together to solve lingering problems that exist in the enterprise and business worlds. Many of NEM development over the years have been a product of pure community involvement and development. This is one reason following the development of the symbol network, NEM social hub was created alongside to serve the purpose of bringing together participants of the blockchain in the spirit of bonding.

Even though Symbol fuses together the world of commerce to NEM infrastructure, the community remain the epicenter of that development, to ensure this sustainability and involvement of the community, the team at NEM work to develop NEM hub a social media-like ecosystem dedicated to users, exclusively accessed by trustless proof of XEM ownership.

Anyone holding the XEM coins has the rare privilege of connecting to a vast network of people from walks of life, region, and races and who are blockchain enthusiasts themselves with a wide range of businesses and enterprises.

NEM Hub has been launched through the use of DaoMaker social mining platform, an Europe based accelerator startup in the blockchain. By simply connecting your socials into the social mining platforms, XEM holders can take part in the social activities and get rewarded for little efforts.

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NEM Daomaker explanation guide for interested participants

NEM Hub hopes to power the voice of the community, help to focus much more on the enterprise growth focus of Symbol, and does not interfere with the power the community has. The Hub however empowers the community members to easily organize its efforts, voice, and validate its position among the community achieving a consensus towards the growth and direction of the NSI1 public chain. It is the hope that the community decision making powers in the development of the ecosystem remains valid and potent.

The newly launched Symbol network will launch to create a private-public hybrid development by connecting and syncing with NSI1 public chain, strengthening all of the attributes expected and associated with the Symbol network eg Security, Interoperability amongst various chains, dapps, apps and APIs, speed and flow of data well organized.

The ease of doing business that will be achieved with the Symbol will be unparalleled when compared with other solutions existing in the blockchain. The cost is hoped to be super minimal lowering the possibility of high fees. The decentralized nature of the social hub will ensure that no one takes control of the discussion since the decision for NSI1 chain growth and development is democratic.

Symbol the enterprise-ready network on one hand will function as a private plugin for the platform while NSI1 chain will function as an ever secure public network.

About NEM NSI1 public chain

NSI1 is NEM’s original blockchain platform offering flexibility and tailored solutions through simple but powerful built in features. Its advantages stand tall amongst existing blockchain infrastructure providing the same solutions.

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  • Performance is optimized in the NSI1 blockchain, designed and coded from scratch to ensure scalability and speed.
  • NSI1 can be used with any programming language ensuring flexibility and ease of development with any program.
  • Built on two-layered architecture providing an incredibly secure and stable platform Eigentrust++ and an incentivized public Node.

About Symbol Network

Symbol is the trusted and secured value exchange private network plugin for business enterprise, aims to smoothen business friction increasing the flow of data and innovation, improving upon the flexibility associated with tokenization of businesses.

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Symbol connects developers, platforms and businesses, enabling an endless stream of possibilities, reducing the costs and complexities of existing processes and providing a platform for new businesses and innovations.