XYM is the native cryptocurrency of the Symbol blockchain, created by the team behind NEM. Symbol aims to provide a more sophisticated blockchain infrastructure for businesses and developers, focusing on features like dual-layer architecture and advanced smart contract capabilities.The XYM token is used for various purposes within the Symbol ecosystem. It can be employed for transaction fees, staking, and governance, allowing holders to participate in decisions regarding the network’s future. In addition to these functions, XYM supports features such as multi-signature accounts and namespaces, allowing users to create unique tokens on the network. This flexibility enhances the potential for a range of applications, from financial services to supply chain management.Symbol’s design emphasizes scalability and speed, addressing common challenges faced by blockchain networks. Overall, XYM serves as a vital component for users and developers engaging with Symbol’s innovative features and functionalities.