NEM (XEM), a unique open-sourced blockchain solution (see: whitepaper), has wasted little time making a statement – both literally and figuratively – at Blockchain Week NYC, with Monday seeing the Singapore-based Foundation announce the public release of Catapult.

Indeed, Catapult is a major upgrade of the first iteration of mijin®, a private blockchain software developed by Tech Bureau. Remarkably, NEM developers had been working on mijin v.2 for almost three years. And so, it’s no wonder that Tom Beno (CEO, Tech Bureau (North America)), declared the public release of the Catapult blockchain platform “a key milestone on the roadmap.”

Catapult has introduced aggregated transactions and multi-level, multi-signature accounts, features not available on any other blockchain.”

As part of Blockchain Week NYC, Jeff McDonald (Vice President, Foundation) will be presenting at the NEM Pavilion on Tuesday at 2:20pm. Per last week’s announcement, McDonald’s presentation will be an “in-depth talk” on “Understanding Catapult”. Assisting him will be “other important NEM partners including Tech Bureau.”

Also announced by the Foundation in Monday’s press release was the launch of a “self-service, on-demand developer lab that will enable companies and individuals to get started on Catapult quickly without having to manage their own infrastructure.”

XEM Catapults

Monday’s watershed announcement saw the price of XEM soar almost instantly, according to At 04:20 (UTC-7) – roughly the time the Foundation published the news – one unit of XEM was equivalent to US$0.35. By 04:38, the price had bounced 10 percent to $0.385.

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