NEO: Co-Founder presents features of NEO 3.0

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NEO is a Chinese crypto project and the 17th largest cryptocurrency based on market capitalization. Known in the community as the "Chinese Ethereum", NEO promises to create a smart economy based on blockchain technology. Erik Zhang, co-founder of NEO, presents possible optimizations and new features for NEO 2019 at NEO Devcon 3.0.

Improved architecture and new features

Using a live Video activation At NEO DevCon, the co-founder at NEO presented the possible innovations for version 3.0 for the cryptocurrency founded in 2014 as "Antshares". The upgrade is intended to solve a problem that currently still affects many cryptocurrencies: the Scalability. How news.btc reports, the founders report that the 3.0 upgrade NEO to "Number 1 blockchain" should do.

A major goal of NEO 3.0 is compatibility for the commercial usewhat the vision of the "smart economy" should achieve. This should be achieved through a radical one Simplify the architecture the platform. Erik Zhang, co-founder of NEO, spoke at the conference on the following three points that bring NEO closer to this goal:

  • Reliability
  • Increased number of transactions per second
  • Extended storage capabilities

Version 3.0 is not enough to optimize the architecture of NEO. Overall should five new features to get integrated:

  • Native contracts - a new type of smart contract that works without a NEO virtual machine
  • Permission System: a system that classifies smart contracts and enables efficient communication between them
  • Access to resources from the Internet: NEO 3.0 is intended to enable users to access resources from the Internet using smart contracts
  • The dBFT consensus mechanism is improved (Delegated Byzantine Fault Tolerance)

The fifth innovation, according to news.btc, is the development of neofs.NeoFS is supposed to decentralized data storage Enable on the blockchain and combine it with economic incentives.

A roadmap to NEO 3.0 will follow.