10 Jan Symbol blockchain news update โ 10/01/23
Good morning XYM City from a dull and miserable UK! ๐ I’m back with another short update on recent events in the Symbol and NEM ecosystem and there are a few stories to cover today.
CANADE
There has been a lot of buzz from the Japanese community on Twitter about the launch of CANADE in recent days but I am still not 100% sure what it is and what, if anything, it means for Symbol. The creators have stated that they plan to “operate as a consortium chain” and that it will be business-related, allowing “product purchases, traceability, and NFTs”.
It appears to be a new custom chain running Symbol and therefore I guess is natively incompatible with the Symbol mainnet (although using cross-chain swaps it will be possible for tokens to be moved between chains). It appears to be in a testing phase at the moment. You can claim CANADE testnet tokens (CBDP) and participate in testing the system, which presumably should be identical to Symbol since it is running the same software just on a different network. There is a web-based wallet along with an explorer and faucet to get you started and I believe that those participating in the testnet will be credited with mainnet CBDZ tokens once it goes live.
CBDZ tokens on the other hand will be native to the Symbol mainnet chain on launch so have the potential to increase the number of transactions on the Symbol chain (although not as much as using the mainnet in the first place! ๐). If you would like to support the project by running a node then you can find instructions on how to do so here, again if you are familiar with running a Symbol node then you won’t have any issues.
The plan is to add additional “consortium chains” in the future, each communicating with one other as well as with the Symbol mainnet. At the moment I am unsure what the use cases are and why new chains are necessary but if this system takes off then you can think of it as being a collection of chains, each with its own tokens that can be moved between networks. Hopefully, we will see some applications soon which will provide some clarity about the project.
AEM algorithm presentation
Late news in (thank you to Radio for pointing this out to me!). On Saturday (14th January) the founder and CEO of the Australian blockchain company “AEM algorithm” Jakub Sawczuk will appear live on the NEMTUS cafe&bar show which will be broadcast from the Sandwich Factory.
Their products include “AEM+” a multi-currency wallet app for XEM, XYM, ETH & BTC as well as “AEM Journaler”, software that simplifies crypto asset accounting. Radio has written an article (in Japanese) about the event here and will be translating at the venue on Saturday. If you live locally then please go and give your support, if not I assume it will be streamed so give it a watch ๐
Swapping names
@faunsu19000 is looking for a new name for his Symbol atomic swap library so if you have any ideas then let him know by replying to this Tweet. I couldn’t think of anything catchy whilst writing this post but if I come up with something good then I will let you know! ๐
NEM Supernodes coming soon?
I think that this Discord post has been all over Twitter already so it’s old news now. But, if you didn’t spot it already then it looks as if the much-anticipated return of the NEM Supernode program is imminent! Apparently, there is a hard deadline of January 14th which is four days away. Will we make it? Well, I don’t know any more than you guys but fingers crossed we will and if not it is good to know that it will be happening very soon!
For those of you that are new to the blog and haven’t heard about this before. The new supernode programme will only require a minimum 10,000 XEM (~ $315) stake in order to be rewarded for running a node. I have my node running already and 10K XYM vested so I am good to go! The rewards won’t make you rich but hopefully, they will go some way to either breaking even or making a small profit from running a node.
Symbol trading analysis
It is great to see that Tresto is back and it looks like he will be providing regular commentaries on Symbol performance.
I love the levels on these charts. I think that we are probably in swamp territory at the moment but let’s hope that changes in the future – Symbol to the Exosphere! ๐ ๐
Travel advice
Ooh, it looks like Jag will be visiting the spiritual home of NEM and Symbol and heading to the Land of the Rising Sun in March! ๐ฏ๐ต I guess he will be going incognito (as always) but our paths could have crossed had we not moved our family trip to Japan from March to May. I have some touristy tips for Tokyo and Kyoto if you’re interested but I am sure that there are many, more qualified travel guides out there in Twitter-land!
Seeing Symbols everywhere
I’ll leave you with this post (as I love cats! ๐ป) – he/she is a real cutie โค๏ธ
Thanks!
Thanks again for reading! I will be back again soon with another update and if you have any news that you think I should be reporting on in English then please let me know! ๐
I’m a Symbol and NEM enthusiast and run this blog to try to grow awareness of the platform in the English-speaking world. If you have any Symbol news you would like me to report on or you have an article that you would like to publish then please let me know!
Sorry, the comment form is closed at this time.