NEM’s Catapult, Full-featured Blockchain Engine, Enters Beta Phase
Today, the NEM Foundation and the developers of NEM announced the beta launch of Catapult, also known as mijin v.2, an update to the NEM blockchain run by Tech Bureau. NEM (XEM) is a P2P blockchain platform providing payments, messaging and asset making facility.
Catapult is a full-featured blockchain engine powering both public and private networks with unique smart contract plugins. These plugins enable bulletproof digital asset creation, decentralized swaps, advanced account systems and business logic modeling.
The platform is launched after two and a half years of development. Partners, customers, and select community members can apply to access NEM’s Catapult. The NEM blockchain software and its successful permission-chain adaptation, mijin v.1, are also being tested by financial institutions internationally.
Three phases to the Catapult beta program:
Phase 1: Catapult developer preview and SDK release
Phase 2: Evaluation release of Catapult Core Engine
Phase 3: Dual-licensing of Catapult in both Open Source and Commercial licenses
Unique features of Catapult
Besides making big improvements to speed and scalability, Catapult introduces Aggregated Transactions and Multi-Level Multi-signature Accounts. These offer new uses that have never been available on any blockchain. NEM’s out-of-the-box blockchain technology accelerates enterprise solutions to serve the needs of the biggest technology businesses in the world, leapfrogging other enterprise blockchains. The NEM.io Foundation will spend an estimated $40 million USD in 2018 to fund global expansion programs.
Lon Wong, President of the NEM.io Foundation said
“We’re proud to partner with Tech Bureau, as we believe the new Catapult blockchain technology platform is the future standard for mainstream enterprise and organizational infrastructures. Catapult is more than just an improvement to the NEM Blockchain. It is an industry milestone that opens up new capabilities for blockchain database functionality.”
CATAPULT ANNOUNCEMENT: NEM officially launches Catapult Beta. Apply to participate in the early access program! Read the official press release here: https://t.co/JT1VvoiVDL#NEM #Catapult #mijin pic.twitter.com/IjBuiOAMpr
— NEM (@NEMofficial) March 25, 2018
NEM is an out-of-the-box blockchain platform that launched in March 2015. NEM has some of the best-designed blockchain features which include multi-signature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system.
Developed by Tech Bureau, mijin is designed to meet versatile enterprise needs with its enhanced private blockchain utilizing the NEM protocol that easily creates blockchain platforms on peer-to-peer networks. The blockchains can be used internally or in collaboration with partner companies in a cloud or other shared data environments. The mijin blockchain creates a secure data-sharing environment with high performance, zero downtime, and unfalsifiable data, while reducing the cost of conventional infrastructure. mijin has been tested extensively as a high-throughput ledger engine in financial institutions, electronic money systems, user authentication, land and property registration, logistics tracking, and food traceability.
About Tech Bureau Group
Tech Bureau, a fintech and cryptocurrency group company in Japan, the U.S., and Europe, develops software and services for blockchain technology. Tech Bureau has developed mijin, a private blockchain software, and Zaif, a Bitcoin and cryptocurrency exchange platform. Tech Bureau recently launched a one-stop solution, “COMSA”, that provides companies with consultation, expertise, and solutions to support their very own ICOs and implementations of blockchain technology into their businesses.
About NEM Foundation Ltd
NEM.io Foundation is a non-profit organization based in Singapore, set up to promote NEM’s blockchain technology globally. It is currently one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.