Snap Interactive, a leading provider of live video social networking applications building on blockchain and other innovative technologies, has selected NEM to power its core blockchain infrastructure.
NEM is a global blockchain enterprise solution platform and one of the most well-funded blockchain technology projects in the cryptocurrency industry. Started only in 2014, NEM is already being used by a number of companies, including Xhai Studios and Hitachi.
SNAP’s Backchannel app is expected to offer video-enabled secure messaging, and is expected to include advanced security features not presently offered by leading secure messaging apps, including anonymous crypto identity authentication, and distributed decentralized message routing that eliminates the security hazard of relying on a third-party middleman.
SNAP chose NEM as it sees it as a “best-of-class” scalable blockchain technology offering secure Proof-of-Importance consensus protocol, configurable assets, and smart signing contracts.
In its official release, the NEM.io Foundation, creators of the peer-to-peer NEM blockchain platform, said that NEM’s node reputation system and native multisig capabilities provide the high level security standards required to meet SNAP’s design philosophy for Backchannel.
“After many months of experimentation with alternatives, it was time to commit to what we believe is the most appropriate blockchain technology for Backchannel. NEM offered the right combination of premier security, capability, flexibility and scalability coupled with a strong, passionate core development team and community.” Eric Sackowitz, SNAP’s Chief Technology Officer, said.
“We welcome SNAP to the NEM community, and look forward to supporting their team in making the Backchannel product initiative successful,” said Lon Wong, President of the NEM Foundation, and continued “We are delighted that app developers like SNAP, who have served hundreds of millions of users around the globe, are embracing NEM technology.”
According to the official release, development has already commenced and will be the foundation for Backchannel, SNAP’s secure messenger application expected to be introduced in the fourth quarter of 2018.
"This is yet another innovative angle how NEM is so versatile, that it is not just a smart asset blockchain solution, but it also provides a key infrastructure for other utility such as backchannel. Coupled with the NEM messaging as a hash record ledger, it allows users of backchannel to utilize the benefits of the NEM ecosystem,” Lon Wong, President of the NEM Foundation said.
