News
SymVerse Announces SYMM Token Swap
Dear SymVerse Community, We are pleased to announce the official launch of the token swap process from SYM (ERC-20) tokens to SYMM, the native coin of the SymVerse mainnet. While the SymVerse mainnet has already been launched and running independently for some time, the ERC-20 SYM token has remained in circulation as a placeholder for early contributors and supporters. With this upcoming swap, all existing SYM token holders will have the opportunity to convert their ERC-20 tokens into native SYMM coins, enabling full access to the utilities and benefits within the SymVerse ecosystem.This swap marks a key moment in our journey toward completing the transition to a fully autonomous, high-performance blockchain environment. Unlike typical mainnet launches, this swap represents the final phase in aligning token utility with on-chain participation. We appreciate your patience and continued support as we move toward the next phase of decentralized growth. Stay tuned for detailed swap instructions and schedule. Thank you, SymVerse Foundation
SymVerse / SymVerse Labs Unveils New CI
SymVerse Foundation has unveiled a new symbol, evolving from its original heart emblem that represented “coexistence” to a more modern icon symbolizing a blue ocean strategy.Alongside this, SymVerse Labs, the blockchain software company, will adopt the same symbol in green — representing sustainable growth.The new logo reinterprets the heart motif into an interconnected form, visually capturing SymVerse’s core values of connection and mutual growth.It reflects the idea that various businesses within the SymVerse network are closely collaborating and growing together through organic relationships.Through this design, the new logo aims to visually communicate the direction and future vision that SymVerse pursues.
TAFISA Korea Collaborates with SymVerse Labs on Blockchain Technology to Strengthen Carbon Neutrality Efforts
TAFISA Korea (CEO Wansik Hong) and blockchain platform SymVerse Labs (CEO Suhyuk Choi) announced that they have signed a cooperation agreement on blockchain technology for carbon neutral activity services. The cooperation aims to contribute to solving the global climate crisis by developing innovative carbon neutral activity campaigns and recording services based on blockchain technology. TAFISA Korea is the Korean branch of the World Federation of Living Sports, an organization that promotes living sports activities that everyone can easily participate in their daily lives. Recently, TAFISA Korea launched Net-Zero Walk, the world’s first climate action application based on physical activity. The app is unique in that it helps users contribute to carbon neutrality through daily activities such as walking and cycling. The app also aims to educate the world about the severity of the climate crisis and inspire people to become carbon-neutral. Since its establishment in 2018, SymVerse Labs has provided a multi-blockchain platform and various solutions to make it easier for enterprises to utilize blockchain technology. The company’s enterprise solutions have made blockchain technology more accessible, helping many organizations achieve digital transformation. In this collaboration, SymVerse Labs’ technology will integrate blockchain records and incentive reward systems into Net-Zero Walk applications. Blockchain technology enhances transparency and credibility of climate actionThrough this collaboration, the Net-Zero Walk application will implement a system that provides incentives for carbon-neutral activities based on users’ registered activity courses, commuting and travel data, etc. By recording these data on the SymVerse blockchain and preserving them as authorized data, transparency and credibility will be ensured. This will be an important opportunity for individuals to prove the value of climate action by making their small actions an official record. Through this technology collaboration, TAFISA Korea and SymVerse Labs plan to develop Net-Zero Walk into a global web3 service that goes beyond a simple application. By incorporating blockchain technology, users worldwide will easily participate in carbon-neutral activities, and their performance will be recorded as reliable data to facilitate the transition to a Net-Zero society. Accelerating the transition to a Net-Zero society through technical cooperationA representative from TAFISA Korea said, “This collaboration is an important step towards moving towards a carbon-neutral society through blockchain technology.” “We plan to expand our technical cooperation with SymVerse Labs on various climate actions and campaigns,” he added. “We believe that blockchain technology will increase the credibility of carbon-neutral activities and help individuals make small actions that can lead to big changes,” said Suhyuk Choi, CEO of SymVerse Labs.” Together with TAFISA Korea, we will develop it into a sustainable service that people worldwide can participate in.” This collaboration is a case that presents a new paradigm for responding to the climate crisis through the convergence of blockchain and physical education. A system that records and rewards individuals’ small actions to become carbon neutral through blockchain technology is expected to contribute to making important progress in responding to the climate crisis. http://www.newswalk.kr/news/view.php?no=2161
LiberVance and Symverse Labs sign a business agreement to expand each other’s ecosystem
Symverse Labs Co., Ltd. (CEO Soo-hyuk Choi) and LiberVance Co., Ltd. (CEO Heung-no Lee) announced on May 1st that they signed a business agreement to use Sallt, a blockchain universal wallet, to expand their mutual ecosystem. LiberVance developed the WorldLand mainnet through blockchain and artificial intelligence convergence research and commercialization efforts jointly promoted with the GIST Blockchain Intelligence Convergence Center, a university information and communication technology research center (ITRC). The WorldLand ‘My AI Network’ was designed to meet the individual needs of its users, and each My AI agent can be trained using unique data held by persons, companies, and institutions. A trained ‘My AI’ agent responds to users’ service requests while protecting their personal information. They grow into professional agents in different fields such as law, medicine, administration, and finance as needed. Through this, ‘My AI’ agents can jointly solve various problems people face through cooperative learning and reinforcement learning within the ‘My AI’ network. Symverse Labs is a multi-blockchain platform with its own DID chain and designed to share its DID with other mainnets of the Fractal Network. Sallt is a universal wallet provided by Symverse Labs that supports various networks such as Bitcoin, Ethereum, and Tron in addition to Symverse. In particular, by providing a decentralized DID-based authentication function, users can exercise self-sovereignty by logging in through their wallets without leaking personal information like the integrated login of existing large platforms. Sallt currently supports iOS, Android, Windows, and MacOS, and plans to contribute to the Web3 ecosystem by providing a Chrome extension shortly. This business agreement will optimize interoperability by sharing DID information between the two companies. https://www.blockchaintoday.co.kr/news/articleView.html?idxno=43142
SymVerse Announces Mainnet V2.0 Upgrade
The SymVerse Foundation announced on April 29 the transition to the SymVerse V2.0 mainnet. The consensus process of the SymVerse network is an evolved BFT algorithm that uses BFT (Byzantine Fault Tolerant), a voting method including Veto. SymVerse V2.0 maintains continuous activation of network nodes based on the PoS (Proof of Stake) method. Guarantee nodes consist of 25. Among them, 9 members of Group A have a certain size of SYM deposit and are selected through pre-screening by the foundation to participate in voting and block generation of the consensus process for a certain period. A collective veto that shows the same voting results can be exercised and the consensus process is terminated if more than 2/3 of all guarantee nodes agree. Therefore, in the SymVerse consensus process where the right to veto exists, no guarantee nodes can collude and take advantage. Group B is selected by checking Node Power among the work nodes that applied to candidates. Including the Primary node (1), which hosts the consensus process of block creation, Front Bench nodes (3), Middle Bench nodes (8), and Back Bench nodes (4) with confirmed priorities for Primary nodes, it consists of 16 different nodes. All nodes participating in the SymVerse consensus process can mine coins generated based on stake holdings and contributions according to the preset node type. Starting with SymVerse V2.0, the SymVerse Foundation will distribute 900 million, including the existing SYM (ERC-20) and mainnet SYM, to revitalize the ecosystem. Accordingly, it was announced that 200 million, corresponding to the supply of SYM (ERC-20) (100 million) and guarantee node deposits (100 million), will be burned sequentially. A SymVers official said, “We are planning to list SYM (ERC-20) on domestic exchanges this year, and SYM coins will be listed on global exchanges.” He also said, “Detailed information about SymVerse V2.0 will be released in the white paper V2.0 in May.” https://www.blockchaintoday.co.kr/news/articleView.html?idxno=43058
Symverse Labs, “Providing total blockchain solutions required in the Web 3 era”
With the advent of the Web 3 era, which decentralizes data ownership and control, the importance of services related to blockchain, a key technology, is strengthening. Meanwhile, Symverse Labs, a next-generation mainnet developer, identified unmet needs from two perspectives, the practicality of Web3 services and the expandability of business applications linked to the expansion of blockchain functions, and developed its own SYM ID. Based on (SymID), Symverse Labs introduced a fractal network that allows various mainnets to interoperate. Unmet needs from Blockchain service and SymVerse solutionIt was stated by Symverse Labs that SymID, a decentralized identification system, is designed to proactively respond to future regulations and service requirements, which distinguishes Symverse’s blockchain from other mainnets in comparison to existing web services. SymID, which consists of a combination of 10 bytes of numbers and letters that guarantees identification and duplication prevention, is expressed as a network identifier of 2 bytes, a Citizen ID of 6 bytes, and an account identifier of 2 bytes, and has one detailed document. A total of 281 trillion IDs can be created, and one SymID can have 216 accounts (credentials). The account identifier can be used as needed, for example, number 10 for travel rules, number 20 for minors, number 30 for tax-related transactions, etc. This simplifies smart contracts and increases usability. SymID is registered with the account on Citizen Chain, not the main blockchain. The account document can provide basic information such as status, credit rating, authentication strength, and country. If the ID node issuing the SymID does not use the authentication strength item, it is used as a public blockchain with complete anonymity. Additionally, it can be used as a private blockchain by entering unique items depending on the purpose. Through SymID, it is possible to build a fractal network where various mainnets coexist separately. The company emphasized that this allows each mainnet to perform its unique functions and roles, increasing the expertise of blockchain while solving the high development and network costs required to operate the mainnet. Several Symverse blockchain features are differentiated from the main blockchain, including the Citizen chain, which manages SymIDs, and the Warrant chain, which stores node roles, blockchain parameters, and external information about the consensus process. “This powerful multi-blockchain platform features an advanced Oracle chain for precise and secure data recording.” SymVerse multi-blockchain Since the four blockchains have different creation times and record different information, they realize fast processing speeds during internal operations and external linkages and have the advantage of being able to create smart contracts using only specialized information more easily. For example, warrant chains can simplify the development of mining rewards for SymIDs staked to nodes participating in the consensus process. In particular, Oracle Chain provides scalability to create new transaction methods by quickly linking with other mainnets in the future. Another distinguishing feature of the Symverse blockchain is its consensus algorithm. The consensus algorithm can be said to be a measure of the degree of decentralization on the mainnet, and blockchain transaction speed and data certainty are key.The block generation method that agrees on the data details stored in the Symverse block is an enhanced Byzantine Fault Tolerant (BFT) algorithm that applies strategic voting, allowing malicious nodes to manipulate data through strategic collusion which block creation is fundamentally blocked. Among the 25 nodes participating in the consensus process, 1/3+1 is called Group A and is selected by the foundation. Group A does not have the right to create blocks and only exercises voting rights. The BFT algorithm is at least 16% faster than consensus when a collective veto (Veto) is exercised, therefore agreement is at least 16% faster. Group B, which accounts for 2/3 of the nodes, consists of decentralized nodes and proposes block generation. For the entire Group B to carry out a malicious Sybil attack, a significant network fee must be paid, and since they are selected probabilistically, the probability of manipulation converges to 0 according to the law of large numbers in statistics. The company explained that even if there is collusion, it is impossible to gain profit by manipulating the blockchain because it cannot reach 3/2+1 of the total number of nodes. Based on this system, the solutions and platform services provided by Symverse Labs to respond to the unmet needs of blockchain, the main technology for Web3 services, are ▲Mainnet solution ▲Blockchain as a Service (BaaS) ▲Tail. It is classified into a centralized app (DApp, Decentralized Application). First, the mainnet solution is a fractal mainnet (built-up type), which configures an independent blockchain by installing nodes of an appropriate size, and a virtual mainnet (rented type) that can operate an independent blockchain by receiving a mainnet code within the Symverse platform. The infrastructure that supports them includes blockchain monitors, scanners, wallets, etc.BaaS includes Sallt, a decentralized wallet that allows businesses and general users to easily use blockchain services, integrated token management platform BBP, blockchain-based login, smart contract integrated development environment SymPose, and mass transfer tool. etc. In addition, it provides Dapps that can be applied to various businesses, such as non-fungible tokens (NFT), a marketplace community that comprehensively applies e-commerce shopping malls, blockchain-based compensation mechanisms, coupons, and games.An official from Symverse Labs said, “Symverse is a network that evolves based on future-oriented blockchain technology. A new paradigm where independent mainnets can interconnect and coexist is incorporated into the platform. Symverse Labs plans to develop blockchain solutions necessary for the Web 3 era and continues to advance toward its vision. https://www.greenpostkorea.co.kr/news/articleView.html?idxno=216013
Symverse Labs introduces next-generation blockchain mainnet based on ‘Practicality’ and ‘Scalability’
SymVerse CI The blockchain ecosystem is presenting a new paradigm for the future Internet aiming for a hyper-connected society. However, despite its beautiful spirit and excellent ideas and technology, the reality is that blockchain has inherent flaws such as slow transaction processing speed, lack of user convenience, and absence of an automatic governance system. By minimizing these flaws, a mainnet based on practicality and scalability was implemented in Korea. Soo-hyuk Choi, CEO of Symverse Labs, earned his doctorate in economics in game theory from Northwestern University in the U.S. After working in various fields as an expert in the information and communication (ICT) field in Korea, he encountered problems with existing blockchains and decided to launch Symverse Labs in 2018. SymVerse is a new word that combines the prefix Sym, meaning ‘together’, and the suffix Verse, meaning ‘interact’. With the motto of ‘coexistence’, a design philosophy was introduced to encourage blockchain users to voluntarily coexist even if they pursue individual interests. Based on his research over the past 30 years, CEO Choi converges on the achievements of various academic fields such as social choice theory, game theory, monetary finance theory, voting theory, and systems engineering to improve blockchain platforms. After applying, it separated multiple blockchains for the first time in the world in just over a year, achieving a one-second innovation in block creation and confirmation. To solve the weaknesses of the block production methods of existing major blockchains, Symverse applied economic game theory across governance, incentive to participate in the consensus process, cooperation, and the production, distribution, and consumption stages of blockchain. The theories applied to the Symverse blockchain are largely ▲Block generation consensus structure applying Veto of strategic voting theory ▲Determining the distribution ratio between coin groups and introducing a step-by-step Nash equilibrium in the distribution method within the group ▲Mechanism design, which consists of motivation for participation and distribution of coins based on incentives. SymVerse blockchain concept map In addition, it was noted that for the blockchain platform to operate as a sustainable dynamic system, there is a mechanism to achieve a stable balance even when stakeholders operate uncooperatively. Accordingly, the company explained that it was designed as a dynamic system in which stakeholders, both individuals and groups, coexist, participation in all consensus processes is automatically and justly processed, and creation and distribution of coins are adjusted over time to match incentives. In addition, as blockchain is a hot topic of the new industrial revolution, it is a distributed identity authentication (DID) system that can actively respond to future market environments and regulations, platform cost savings, transaction processing speed improvement, and multi-functional support for blockchain operators. It has been created as an open platform, including a fractal network that can satisfy complex service requirements by introducing multi-chain and linking multiple mainnets with different functions and purposes. SymVerse Labs CEO, Choi Soo-hyuk has predicted that the future blockchain mainnet will be a combination of blockchain platforms that can respond to various regulations and accommodate heterogeneous industries. The Symverse roadmap is designed with an emphasis on openness and decentralization, which are the essence of blockchain technology. https://www.greenpostkorea.co.kr/news/articleView.html?idxno=215801
Symverse Labs launches smart contract development environment ‘SymPose 2.0’
Smart contract integrated development environment (IDE) SymPose 2.0 screen Symverse Labs (CEO Soo-hyuk Choi), a blockchain mainnet platform company, announced on October 20 that it had launched SymPose 2.0, a Web3 integrated development environment (IDE) that supports the Symverse protocol. Through its ID system, Symverse Labs provides companies and blockchain service providers with a multi-blockchain mainnet and total blockchain solutions. One of the solutions, ‘SymPose’ is an integrated development environment that creates smart contracts that operate on the SymVerse mainnet and generate code to operate in the SVM (SymVerse Virtual Machine). As OpenZeppelin.com’s library for managing and operating smart contracts uses Ethereum Solidity, it provides the same level of accessibility as Ethereum for smart contracts registered with the Symverse protocol. It also provides templates that can be used to easily create Web3 development sources. This version 2.0 has been updated to automatically generate and provide Web3 sources such as JavaScript, Node.js., and Dart, which are Web3 development languages. In particular, standardization of the web assembly language (Wasm) developed in the Dart language is underway, providing Web3 developers with a future-oriented and differentiated Web3 integrated development environment. Soo-hyuk Choi, CEO of Symverse Labs, mentioned, “Together with the Symverse Foundation, we plan to provide free developer training courses on Web3 development using the smart contract integrated development environment.” In the meantime, Symverse Labs recently released ‘Sallt V1.5’, a wallet that uses decentralized ID as a form of authentication, and continues to grow by launching ‘Communy’, a Web3 content community platform. https://www.venturesquare.net/899879
SYMVERSE Labs and BEGIN21 Sign Business Agreement to Support Artistic Activities of Artists with Disabilities
Blockchain mainnet platform Symverse Labs (CEO Choi Soo-hyuk) announced today (26th) that it has signed a business agreement with Begin 21 (CEO Kim Mi-Kyung), a comprehensive cultural and artistic entertainment for the disabled, to support the artistic activities of artists with disabilities. Since its establishment in 2018, Symverse Labs has developed a multi-blockchain platform and provided various enterprise solutions and consulting services to help companies easily incorporate blockchain technology. With this agreement, Symverse Labs will jointly carry out tasks such as pioneering artworks for disabled artists and managing tickets for related events through the content community platform ‘COMMUNY’ which launched in June. In addition, a certain portion of the related sales proceeds are planned to be delivered to the development fund and donations of the social cooperative ‘Begin 21’. ‘Begin 21’, the partner of the agreement, is an organization established in 2021 and is conducting fashion shows with people with developmental disabilities and senior models, and planning various cultural and artistic activities to help people with disabilities advance into society. “We are pleased to have taken a step forward in improving awareness of people with disabilities by collaborating with Symverse Labs,” said Kim Mi-kyung, CEO of Begin21. “We hope to add hope to the lives of people with disabilities as citizens who enjoy cultural and artistic activities and pay taxes proudly, rather than as beneficiaries.” Soo-hyuk Choi, CEO of Symverse Labs, said, “Through our collaboration with Begin21, we will spare no effort to support people with disabilities to contribute to artistic activities and provide high-quality services to content creators and consumers.” Meanwhile, Symverse Labs plans to advance various blockchain services this year through products such as the content community platform ‘Communy’ and the decentralized wallet ‘Sallt’. https://www.purpress.com/bbs/board.php?bo_table=society&wr_id=3787
Special meeting held on the theme of ‘Web 3.0 Democracy Party’
On July 24, Yang Hyang-ja, Chairman of the Korea Hope Party, held a special meeting on ‘Democracy and the Future of Political Parties in the Web 3.0 Era’ at the National Assembly Hall.Choi Soo-hyuk, chairman of the Korea Blockchain Startup Association, and Kim Hyung-jung, president of the Korea Fintech Society, participated as panelists.The Korean Hope Party was officially founded on June 26 after holding its founding promoter convention. The party attracted attention by announcing that it would be the first political party in Korea to run on blockchain. News link: https://www.blockchaintoday.co.kr/news/articleView.html?idxno=35231