NEO to Release New High Scalability Platform

New solution is targeted at large enterprise clients
12 July 2018   1140

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.

NEO to Finance Switcheo Development Team

Investments were provided as part of the NEO EcoBoost ecosystem development program, which is $100M in whole
15 January 2020   241

NEO blockchain project invested in non-custodian exchange Switcheo. This was reported by Switcheo developers on their blog.

Investments were provided as part of the NEO EcoBoost ecosystem development program. The amount of investments by companies was not disclosed. It is known that $ 100 million was allocated for the EcoBoost program.

Switcheo CEO Ivan Pun believes that new financing will help his company implement several planned projects, including launching products from the decentralized finance (DeFi) field. NEO founder Da Hongfei said the two projects will continue to “work in tandem” to develop the NEO ecosystem.

Switcheo launched in 2018 and is the most popular decentralized exchange for working with NEO and tokens based on its blockchain. In addition, the exchange allows swaps with assets of the Ethereum and EOS blockchains.

Since February, Switcheo users will be able to pay fees for trading on the platform with NEO GAS tokens. The SWTH token will no longer be used for this. NEO, for its part, will finance the exchange of SWTH for GAS at a set minimum price - it will be determined later. At the same time, a multi-level program will be launched, thanks to which SWTH holders will be able to receive discounts on commissions when trading on the exchange.