Symbol

Halal Rating :
Comfortable
Last Price $0.02 Last updated:
Rank 407
1D Change -2.58 %
Market Cap $125.39m
Circulating supply 5,896,307,406
Maximum supply 8,999,999,999

Crypto Overview

Categories
  • PoS+

Symbol is a blockchain platform launched in March of 2021. It's the spiritual successor to NEM, featuring a new consensus algorithm called proof-of-stake-plus (PoS+), rule-based tokens (called mosaics), namespaces, multisignature accounts, and aggregate transactions. Its client, Catapult, is written in C++. Symbol has a cult following in Japan and Korea. The community can be primarily found on Twitter, LINE, and KakaoTalk. Some of the most notable projects built on Symbol include: - QUEST [https://quest-bc.com/] | a bounty and tipping platform for creators. Follow the official Twitter account here [https://twitter.com/QUESTofficial5]. - SYMBOARD | a loyalty and rewards card for businesses. Follow the official Twitter account here [https://twitter.com/symboard_symbol]. - THE TOWER [https://symvolution.com/thetower/] | an endless dungeon crawler. - NFT DRIVE [https://www.nft-drive.com/] | an on-chain media and content storage service. Follow the official Twitter account here [https://twitter.com/nftdrive_jp]. - COMSA [https://comsa.io/en] | a novel NFT marketplace developed and designed for the Japanese cryptocurrency community. In November 2021, Symbol was forked by a pseudonymous team of cryptocurrency experts and enthusiasts alike. Titled Cyprus, this hard fork signaled the community’s intent to turn Symbol into the world’s leading omnichain platform with content-specific, scalable shards - powered by zk-STARKs [https://starkware.co/stark/]. Symbol aims to solve for problems inherent in EVM-based platforms and omnichain solutions, where security is often defined at a smart-contract level (versus a network-wide level); where L2 validators are centralized and not incentivized; and where new features and functionality are decided by central client teams versus a fair and free market.

Crypto Impact

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Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Symbol.

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Justification for our Halal Rating