Review on Symbol (XYM) by francis fernandez
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The crypto industry is unstoppable; this can be seen in the number of platforms that are launched daily on the stock market. All of them with the common objective of consolidating itself as a currency of universal adoption. For this, some make bifurcations and modifications in their original infrastructure that bring them closer to achieving this objective.
Symbol is a protocol of a public nature that has been developed by the NEM ecosystem; in order to establish a common digital currency among the business union.
In this sense, Symbol aims to:
• Promote positive economic relationships between various business organizations worldwide
• Develop a non-custodial market for the free exchange of trusted data between business groups
• Promote the creation of new digital money systems using a secure network
• Contribute to the protection of the assets of companies, through the use of reliable information and decentralized blockchain solutions.
• Develop an open market that allows the trading of digital assets among equals (B2B)
• Promote the creation and universal adoption of a digital currency for purely business purposes
• Establish a 1: 1 equivalence between XEM (NEM's native currency) and XYM (Symbol's new currency) to guarantee its users the full value of their funds when performing the currency conversion
Considering the analysis of the previous points, we can conclude that Symbol intends to unify the business union under a single cryptographic infrastructure, which allows consolidating benefits common to all commercial entities worldwide.
Pros
- It allows business exchanges in a transparent way
- Promotes favorable relationships between different trade organizations on a global scale
- Creates an open market for trusted data that protects business assets
- Promotes the development of new forms of assets and their reliable exchange
- Non-custodial protocol that allows free access to its open source
Cons
- No disadvantages
