NEM Group at the moment introduced that it has begun the opt-in course of to Image, its next-generation enterprise-grade blockchain resolution. Choose-in represents step one of the migration course of from NEM NIS1, NEM’s authentic blockchain providing, to the Image public chain, a brand new enterprise-grade chain which will likely be launched in parallel with NIS1. To accommodate current NIS1 customers, the 2 chains will proceed to run side-by-side.
Commenting on the announcement, David Shaw, CEO of NEM Group, mentioned, “The opt-in course of is a vital a part of our migration course of and a necessary subsequent step in our roadmap main as much as the launch of Image. Our staff has been heads-down constructing a sturdy platform, and has taken the learnings from constructing NEM NIS1 along with developments within the business and have set concepts to develop Image. Image was constructed from the bottom as much as be safe, scalable, and decentralized, with enterprise functions on the core of all we do. NIS1 customers who select to opt-in now will likely be among the many first to expertise all of Image’s capabilities following mainnet launch.”
As a part of the migration course of, all holders of XEM, NEM NIS1’s native forex, will likely be eligible to obtain XYM tokens on Image when it launches later this yr. As a way to give XEM holders company all through the migration, the token allocation of the XYM tokens will likely be decided by the opt-in course of and Snapshot, a document of all XEM account balances on the NEM NIS1 blockchain which will likely be taken in early December 2020.
Choose-in is the primary vital step within the migration course of and, as of September 15th, all XEM account holders are capable of Choose-in to assert their XYM tokens at Snapshot.
By opting-in, XEM holders will acquire an XYM stability equal to that of their XEM stability on the time of the Snapshot. For every 1 XEM held by customers on the time of Snapshot, they’ll obtain 1 XYM (1 XEM= 1 XYM). All XYM allocations will likely be based mostly on this one-time document of XEM balances, so XYM allocations for opt-in will likely be based mostly on the quantity of XEM customers maintain throughout Snapshot.
Iain Wilson, Chief Monetary Officer of NEM Group, mentioned, “Migrating from NIS1 to Image is a milestone occasion within the historical past of NEM. Image represents the beginning of our subsequent chapter, as a purpose-built resolution to assist corporations expertise the numerous enterprise advantages of blockchain. And we would like our neighborhood to be a part of this course of, by opting-in, collaborating in Snapshot and serving to to proceed to inform the NEM story as we proceed to drive innovation, construct the NEM ecosystem and develop Image into the go-to blockchain resolution for enterprise.”
Image is the next-generation enterprise-grade blockchain resolution from NEM, purpose-built to assist companies lower prices, scale back complexities, and streamline innovation. With main upgrades in flexibility, safety, velocity, and ease of use, the Image platform is the best-in-class blockchain enterprise resolution.
Choose-in is now open by way of the desktop pockets, with cellular variations (Google Play and iOS) launching quickly.