The NEM.io Foundation and the developers of NEM, creators of the peer-to-peer NEM blockchain platform providing payments, messaging, asset making and more, today announced the private beta launch of Catapult (also called mijin v.2), a highly anticipated update to the NEM blockchain run by Tech Bureau. This private developer preview showcases the technology that will first be used for private chains and then later for the NEM public chain.
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.
After 2.5 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.
There are 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
“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.”
Besides making big improvements to speed and scalability, Catapult introduces Aggregated Transactions and Multi-Level Multisignature 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.