18 Jan Symbol blockchain news update โ 18/01/24
Good morning XYM City! I am sticking to my New Year’s resolution and have set aside some time today to try to understand what has been going on in the world of Symbol and NEM over the last week ๐ I am also dosed up on painkillers after hurting my back earlier in the week so forgive me for any typos ๐
A new Symbol contributor
It looks like Toshi is now an official contributor to Symbol and his code for timestamp block searches has been incorporated into the official Symbol codebase. Nice work! ๐๐๐
Key links
Ever wondered about key link transactions in Symbol? If you have then this is the article for you! Jag has written a new blog post that delves into these transactions’ design decisions and technical details, highlighting their roles in maintaining network security and efficiency.
Symbol rest wrapper
Faunsu has created a new Symbol rest API I couldn’t find much in the way of documentation but it looks as if it contains functions for fetching account information, creating new accounts, fetching node lists, dealing with conversions of public keys to addresses and generating account QR codes, among other things. I will investigate more after I finish writing this blog post ๐ต๏ธ
Symbol JPY stablecoin?
OK, before you get too excited, this is not official news about the announcement of a JPY stablecoin on the Symbol blockchain. However, it does show that there is genuine interest in the idea. The article discusses how Noritaka Okabe from JPYC Co., Ltd., which issues the yen-linked stablecoin JPYC, hinted at the possibility of launching a stablecoin on the Symbol blockchain. This announcement follows a survey on Twitter about blockchains JPYC should support, with Symbol polling well. It would be great to see this happen so fingers crossed ๐ค I think that this would be huge for Symbol in gaining wider recognition and increasing transactions.
Winner!
It is great to see that NFT Drive president EUFjZEyIuzS9rIi was declared “person of the year” in the Japanese blockchain industry! Hopefully, this will shine some more light on Symbol and is a great achievement. There is a video but I couldn’t get it to translate and my god he speaks fast, maybe the audio was sped up? ๐
Food glorious food
The Food NFT Consortium, in collaboration with NFTDrive has launched a user-friendly web application called “ONEPLATE” to make Food NFTs easily accessible to everyone. Launched on January 10, 2024, ONEPLATE is designed to enhance the user experience around NFTs, making it simple and intuitive for all. ONEPLATE is a web-based service, making it device-agnostic and simplifying the adoption of NFTs. It supports fast display of NFT previews and provides one-touch sharing of URLs and QR codes, making it easy to share NFTs.
Web3 expert
Tresto has contributed to this article “What’s going to happen to Web3 this year? 80 leading figures in the crypto assets/blockchain industry talk about their outlook for 2024”. Again there is mention of JPY stablecoins – a translated summary is provided below:
In Japan, the issuance of stablecoins is expected to increase from 2024. While there are concerns about the limited applications of stablecoins beyond corporate settlements, the Symbol community is seen as having a unique advantage. It is cultivating an environment that could serve as a model case for peer-to-peer payments through stablecoins.
The Japanese NEM/Symbol community has a long history of promoting cryptocurrency payments not just as a means of transaction but as an opportunity to learn about the significance of transactions on a public chain and the benefits of staking. The community has organized several events incorporating payments.
If stablecoins are issued on Symbol, opening the door to wider consumption, the community’s accumulated expertise could be leveraged to reach new audiences unfamiliar with blockchain. This development could be quite unique within the industry, and there is hope for its realization.
Symbol guide in the top 10 tech books
It looks like the Symbol textbook has been included in the “IT Engineer Awards 2024” top 10 list of “technical and business books” in Japan! This is great publicity for the book and hopefully will get more people interested in developing on Symbol ๐๐๐.
Thanks
Thanks again for reading! I will be back again (hopefully minus the back pain) with another update next week!
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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