Symbol is a blockchain infrastructure that forms a part of the NEM (New Economy Movement). NEM was created in an attempt to encourage the overall adoption of cryptocurrency and increase its use cases. The Symbol blockchain is designed specifically for providing a platform for developers to build more complex networks that offer seamless interoperability between both private and public blockchains. 

XYM is the native cryptocurrency of the Symbol blockchain. It was launched in 2021 and has a maximum supply of 8999999999. 

What are Symbol’s key features and how does it work?

Symbol uses a proof-of-stake consensus mechanism. This is designed to help improve interoperability and communication between other blockchains. As well as reduce the amount of energy required to operate. There are several key participants in the network. This includes node operators, general users, investors, and harvesters. Harvesters are those who run nodes or hold XYM.

Symbol is notable for its versatility thanks to its hybrid blockchain design. For example, although the protocol’s main target is security token offerings (STOs) and regulated assets, Symbol technology provides users with the ability to create almost any type of digital asset. This includes NFTs, stock shares, cryptocurrency, signatures and more.

In addition, the network facilitates fast cross-chain swaps that are easy to execute.

What can XYM be used for?

XYM, Symbol’s native cryptocurrency, is used to incentive general platform usage, such as paying for transactions, as well as platform staking. Additionally, it is issued to stakers as a reward for their help in securing the network.

Where can you buy XYM?

XYM is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are MEXC Global, KuCoin, and Gate.io. The price of XYM will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for XYM market prices, please view the price charts on this page.