The NEM Network plans to release its new Symbol network on Mar. 15. It will run in separately from the old network, and the team will maintain both networks. It does use a new token, called XYM. XEM will still be used on the old network.
To get the new network in gear, NEM will airdrop XYM to XEM holders. The snapshot for this was taken by Binance on Mar. 12, and the exchange confirmed on Mar. 13 that the snapshot was a success.
The first NEM blockchain, NIS1, started operating in 2015 with zero downtime, and no major outages. The idea behind the network was a simple-to-use architecture promoting smart contracts. Symbol, according to the team, is what NIS1 evolved into. It is supposed to improve upon NIS1’s core strengths, namely speed, ease-of-use, and security.
