NEO Based Projects to Urge Users to Leave Bitpaction

NEO ecosystem projects report about number of warning signs
09 July 2018   483

A lot of projects from the NEO ecosystem urged users to withdraw funds from the Bitpaction exchange in the light of the growing number of disturbing signs and lack of feedback from its management. Bitpaction supports several NEP5 tokens, including Master Contact Token (MCT), Bridge (TOLL), Orbis (OBT), Narrative (NRVE), Travala (AVA), and Loopring (LRN). This is written by NeoNewsToday.

One of the first to notice the problem was the team of the Master Contract Token, which wrote in Twitter on July 2 that the administration of Bitpaction does not show activity in the Telegram channel and Twitter for several days.

From that moment the situation only worsened. Bitpaction stopped accepting deposits and raised fees for withdrawing funds. Commission for the withdrawal of bitcoin rose from 0.001 to 0.01 (over $ 65). Commission for the conclusion of NEO, which, according to the information page, is displayed for free, now is 0.5. The output of Travala tokens costs 500 AVA (against 20 AVA in the past).

In addition to growing commissions, there are also problems with the processing of applications themselves. Users with varying degrees of success output tokens TOLL and report that they can not output MCT at all.

As of July 9, projects and users continue to report a lack of communication with the support and management of the exchange. Many people assume that Bitpaction is trying to get more money from its users before closing it.

Projects Bridge Protocol, Narrative, Travala and Orbis individually recommended that users withdraw funds from the Bitpaction exchange.

NEO to Release New High Scalability Platform

New solution is targeted at large enterprise clients
12 July 2018   360

NEO team announced that they are preparing to release a new version of its platform for large-scale enterprises. The new version will focus on usage scenarios that require high bandwidth, which will be achieved through the integration of a number of solutions, for example, sharding, which will allow the platform to scale effectively. This is reported by NewsBTC.

NEO 3.0 will be an entirely new version of the NEO platform, built for large-scale enterprise use cases. It will provide higher TPS and stability, expanded APIs for smart contracts, optimized economic and pricing models, and much more. Most importantly, we will entirely redesign NEO’s core modules.
 

Erik Zhang

Co-founder and core developer, NEO 

The platform will use a new economic model. According to the current plan, the developers will make NEO a divisible unit and will provide a small annual increase in gas emissions. The developers recognized that the current model using NEO / GAS isn't the most effective, since NEO was an indivisible unit in the calculations, and GAS could not be divided when paying commissions.

The NEO token used to be indivisible. It caused some troubles. We are trying to change it so in the future the NEO token will be divisible just like Ether or Bitcoin. That’s one of the biggest changes.
 

Da Hongfei 

CEO, NEO

The developers' proposal has already met with negative public reaction. Some believe that in the new system, the nodes will be able to manipulate the price of gas in order to maximize their own profit, while others assume that the divisibility of NEO will devalue the GAS.

The main task in ensuring NEO's compliance with corporate standards remains to increase the bandwidth of the platform. To achieve this, NEO will reorganize the code and base modules, optimize the protocol and prepare for the integration of dynamic shading.

Also, developers intend to implement support for cross-platform smart contracts, which can be launched in various blockchains, if they conform to the standard NEO 3.0. To achieve this, it is necessary to implement the support of such contracts in the NEO virtual machine (NeoVM) and to issue unified APIs.