17 May Symbol blockchain news update – 17/05/22
Good morning XYM City! I am back with a quick roundup of news from the Symbol and NEM world. I feel like I still a little out of touch so if I missed anything important then please let me know and I will try to cover it in my next post 😊
Supernodes are coming!
I have been waiting for this for a while and it looks like we are very close to seeing a revamped NEM supernodes programme launching! There will be a major change to the previous system and NEM is becoming a lot less elitist by drastically dropping the minimum supernode stake. This used to be a crazy 3M XEM(!) but from discussions spotted on Discord I believe that this will be reduced to a much more manageable 10,000 XEM (a 300-fold reduction!). I don’t think that this has been officially confirmed yet but I am sure more details will be coming soon.
The supernode programme will not make you rich but hopefully, it will cover some of the costs of running a NEM node. Remember though, that this is a temporary measure until NEM block rewards are introduced, then we will see a system like Symbol where harvesting becomes worthwhile. Maybe it is a good time for me to move a little bit of XYM back into XEM 🤔
Harvest rewards decrease 😭🌾
Boo! I noticed this when I harvested yesterday. As of block 1,222,799 Symbol harvesting rewards have been reduced. You will now receive a block reward of 107.95 XYM for every harvest. Node owners, you will receive 38.55 XYM as a node reward. With the low price of XYM and the reduced rewards, I wonder if we will see a reduction in nodes in the near future. I hope not. Just remember, what you harvest and HODL now will be worth a lot more in the future so if you are running a node then some short-term pain might lead to a longer-term gain 😊
NEM Japan gets a rebrand
The community-run NEM Japan has had a little bit of a rebrand and after a public vote is now known as “Symbol & NEM Community Info” (@symnem_com_info) – catchy 😂 I guess this account will still be tweeting exclusively in Japanese but please follow them, just hit the translate button on the tweet and you’ll be fine! 😊
The crew – series 2 (Electric Boogaloo)
I missed this the other day and didn’t know that series 2 was being planned already! If you want to see your favourite community member immortalised as a crew member then get your votes in below by tagging them in this post:
I really hope that I get in but I think it is more realistic to pin my hopes on series 5 or above since there are many more worthy candidates than me 😁
What is this sorcery?
Looks like some new tech is being experimented with here and this (prototype?) XYM coin has been fitted with NFC technology so you can interact with it via your smartphone. Not sure what the applications might be but it is kind of cool!
Thanks!
Thanks for reading, was a bit light on stories today so if you have anything to report then please let me know and I will include it in my next post. Hopefully I will be back again soon with another update!
If you are a regular reader then please consider delegating to my node xymharvesting.net 😊
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!
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