What is NEM SYMBOL and how can you make money on it?

Hello everyone. I want to tell you some latest news from the camp of the NEM project. As you know, NEM one of the oldest projects in the crypto market, it was launched in 2015. Which in 2017–2018 entrenched for a long time in the top 10 of CoinMarketCap.

Image for post
Image for post
NEM top7 at 13 january 2018

The NEM project has a difficult fate, having loudly declared itself back in 2017, the project gradually began to lose ground. Back in 2017, the project announced the creation of NEM CATAPULT — Big blockchain upgrade that should solve current problems and create for NEM great advantage among competitors.

While the real release of this upgrade was delayed for several years, due to a number of reasons that I do not want to describe, since it will take a lot of time. As a result, during this time many new projects have already come out, which have already occupied huge part of the market, so this upgrade CATAPULT was no longer so relevant. That’s why in the process of creating NEM CATAPULT, the NEM project team decided to simultaneously begin create a completely new project called SYMBOL, which will have to solve completely different problems that would be relevant at the time of 2020+.

Image for post
Image for post

I’ll say right away — I’m not a techie, I relate myself more to the sphere of trading, as you most likely could understand from the name that post) Therefore, I will quickly go over some technical aspects to have an idea in general. Unlike its predecessor NEM, SYMBOL — is a multi-level blockchain with a very complex architecture. Witch main task is to make it very easy for business to create any blockchains, whether private or fully open, or hybrid, with different levels of interaction within these blockchains.

Image for post
Image for post

Also, the NEM team promises us multi-level security at Symbol, leaving it with the title of “one of the most secure blockchains”. Also great scalability promised and 3k+ TPS (that already have been reached at the test net). In general, NEM plans to seriously compete with all the new and old blockchains in the current cryptocurrency market, and occupy a new niche here.

But this is not the only opportunity for you and me to make money on the upcoming release of the Symbol blockchain. Very good speculative potential will give us the very launch of this project. It is planned for November 2020. The exact date will be announced, but the most important moment here, as I wrote above, is not just updating of the NEM blockchain. SYMBOL — It is a completely separate project, another blockchain with another native Token named XYM. And the distribution of that native token, inside this blockchain, will occur through a peculiar airdrop for the NEM token holders — 1 to 1, at the time of the snapshot in November. Circulating Supply for the Symbol will be also the same as NEM.

Image for post
Image for post
From TestNet to Launch

By the way, the NEM blockchain will continue to exist, and the NEM team promises to continue its development.

It should be understood that such airdrops very well affect the price of any asset, and here we are also talking about the distribution of “free” tokens for one of the potentially most technologically advanced blockchains. Now not many people are following the NEM project, many have lost it from their radars due to market oversaturation. Everyone is following DeFi or other new Hype trends.

But I propose you to imagine what will begin when NEM officially announces the release of Symbol with the exact launch date of the project. And what kind of HYPE will rise when the main top exchanges like Binance, Huobi, Okex, Bithumb and etc. will start announcing that they will support this airdrop and will deposit NEM holders with a new XYM token. Until November not much time left my friend, and no one knows when this hype around NEM can start, so I recommend you to take NEM project on your radar again, which now looks very much like a sleeping giant, unless of course you want to miss another strong trend in crypto. Be ready.

Written by

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store