The NEM.io Foundation, togheter with the developers and creators of the peer-to-peer NEM blockchain platform providing payments, messaging, asset making and more, announced the private beta launch of Catapult (also called mijin v.2), a highly anticipated update of the blockchain managed by Tech Bureau.
This private development preview shows the technology that will first be used for private chains and later for the public chain. Catapult is a powerful blockchain engine that powers public and private networks with exclusive smart plugins. These plugins allow the creation of bulletproof digital resources, decentralized swaps, advanced account systems and business logic modeling.
After 2.5 years of development, select partners, customers and community members can request access to NEM’s Catapult. The NEM blockchain software and its chain adaptation of successful authorizations, mijin v.1, have also been tested by international financial institutions.
There are three phases for 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 Open Source and Commercial licenses
“We are proud to partner with Tech Bureau, as we believe Catapult’s new blockchain technology platform represents the future standard for traditional corporate and organizational infrastructures,” said Lon Wong, president of the NEM.io Foundation. “Catapult is more than just improving the Blockchain NEM. It is a milestone in the industry that opens new features for the functionality of the blockchain database. ”
In addition to making great improvements in speed and scalability, Catapult introduces aggregate transactions and multilevel multisignature accounts. These offer new uses that have never been available on any blockchain. This ready-to-use blockchain technology accelerates business solutions to meet the needs of the world’s largest technology companies, bypassing other corporate blockchains. The NEM.io Foundation will spend about $ 40 million in 2018 to finance global expansion programs.