NEO gives money back to sponsors

NEO issued a Sponsor Giveback Plan to give the money back to initial investors
31 October 2017   1072

The Chinese cryptocurrency NEO which now has a market capitalisation of $1,874,769,000  and is trading at $28,77 published an announcement presenting their Sponsor Giveback Plan on its official website on October 30.

The price of NEO cryptocurrency was quite unstable lately, going up and down, for instance, climbing by 30% in the end of september, rising up to $38 USD on Ocober 2 and falling down to the price of $26 on October 21. On the day the announcement was published, market cap of NEO rose by $500,000,000.

NEO currency charts september october
NEO Charts 

The abovementioned plan is set to give the money back to first currency’s sponsors, who invested during ICO1 and ICO2. NEO will unconditionally pay investors the amount equal to the fiat value they contributed at the time of ICO. The total amount planned to be given back is $4,513,906, which is about CNY 30,000,000.

Initial sponsors may receive their portions either through bank transfer (in CNY only) or in NEO. For those who contributed in BTC, the amount will be calculated as per then BTC/CNY rates.

We hope that the “NEO Sponsor Giveback Plan” will set a good example for the community. We are looking forward to seeing more of the blockchain developers and service providers to use NEO blockchain.
 

NEO Council

A of today, there are more than 90,000 NEO holders and over 76,000 NeoGas holders. At the moment of writing price of NEO in BTC is 0,0047 and 191,289 in CNY.

What is more, in an announcement it is stated that all the detailed instructions towars giveback will be released within 2 weeks.

NEO to Release New High Scalability Platform

New solution is targeted at large enterprise clients
12 July 2018   407

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.