29 Jul Symbol blockchain news update – 29/07/21
Good morning/afternoon/evening depending on what time I post this and where you are in the world! Here is Thursday’s Symbol Blog news update for you!
Symbol aggregate transactions in Python
I just added an English translation of one of @xembook‘s excellent articles. It deals with making aggregate transactions on the Symbol blockchain in Python. This is the first time I have done this and actually it is surprisingly easy (although I admit I don’t fully grasp Merkel trees!). Please check it out if you are interested in learning how to do it yourselves. I have also included a Jupyter Notebook to work through 🙂
The network flywheel / ネットワークフライホイール
So I reported briefly on this in a previous post (see “Wen moon”). Hatchet introduced the concept of the network flywheel which was originally described in this thread.
I just wanted to let our Japanese readers know that @TrendStream has written a Japanese article on the network flywheel and you can (and should!) check it out here.
The concept makes a lot of sense, and for me this is what we have to be working towards. It is only when we have all components of the flywheel in place that we can generate momentum and increase the popularity and value of the network and therefore the token.
As I always say, we can all help towards this common goal and it is in our interests as XYM and XEM holders if we do. One additional bonus is that since I have set up the blog and have been writing about Symbol I have learned more about it and weirdly I no longer really follow the price.
NEMHub alternatives
I picked up this interesting Twitter discussion between @h_gocchi and @0x6861746366574 (Hatchet). @h_gocchi makes the point that there should be a NEMHub alternative that runs on Symbol instead of the current offering made by DAO Maker. I have raised some questions about NEMHub before e.g. its poor design, lack of transparency/fairness of the algorithm and general lack of any in depth guide for new users (to name but a few). I know that there are issues currently and in my view it is probably not fit for purpose as in its current incarnation.
It’s a long thread but Hatchet starts by explaining that could be something that quadratic funding could solve. I.e. if enough of the community want this then we can make it happen.
SymbolX sounds interesting and as we talked about above, building on Symbol fuels the network flywheel whereas off the shelf solutions do not.
And I absolutely agree with this point, I do use NEMHub but my last (and biggest) payout was 80 XYM. Scanning Twitter I realised that there are many people earning a lot more and it is not clear to me what the logic is behind the rewards process.
It is also true that getting paid for tweeting is pretty lame 😁. We do this because we want to spread awareness not that we expect something in return, this is why I run this blog. I do think that there are larger tasks that should be rewarded so paying for quality over quantity should be the way to go.
I haven’t seen Gitcoin before so this is something that I will add to my reading list. I am also looking forward to replacing NEMHub with something better!
School time
Thanks @alediemmee for this @SchoolofNEM tweet. I have heard of NEMbers but not NEM-Chu, and yes the automatic translation really doesn’t work for this one! 😂
And finally..
I will just leave this here with @symbolico1‘s caption – it made me laugh 🐑 😆
Thanks for reading and let me know if you have any news that you think that the world needs to hear! 😊
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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