NEM cost $40 million to expand and issue Catapult blockchain

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The Catapult update is a full-featured blockchain engine that provides smart contract plug-ins for public and private blockchain networks.

Singapore-based cryptocurrency and blockchain platform NEM has announced the launch of Catapult’s blockchain beta update.

NEM is a blockchain platform designed specifically for certain businesses . In other words you can use NEM crytocurrency to sign multi-signature account contracts, manage customizable assets, run naming systems and adminster encrypted messages. According to the announcement of the NEM.io Foundation, the Catapult update is a full-featured blockchain engine that provides smart contract plug-ins for public and private blockchain networks. Allegedly, these plug-ins can implement functions such as digital asset creation protection, decentralized exchange, advanced account systems, and business logic modeling.

NEM also revealed that in addition to significant improvements in transaction speed and scalability, Catapult has introduced “aggregate transactions” and “multi-level multi-signature accounts”, and these new features have not been deployed on any blockchain. The company said:

“NEM’s ‘out-of-the-box’ blockchain technology accelerates the deployment of enterprise solutions to meet the needs of global technology companies.” and certainly NEM, Bitcoin, together with other crytocurrencies will arouse new economy movement.

NEM revealed that Catapult’s blockchain beta testing program is divided into three phases:

1. Developer preview and software development kit (SDK) release;

2, Catapult core engine version evaluation;

3. Catapult dual license based on open source and commercial applications.

In addition, the NEM.io Foundation stated that they will invest 40 million US dollars this year for the expansion of global business.

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