NEO released trade and payment platform

NEO blockchain project made an annoucement of the release of cryptographic trade and payment service creation built on NEO
21 November 2017   1080

NEO, a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a "smart economy" with a distributed network, made an annoucement, stating that NEX, a platform for complex decentralized cryptographic trade and payment service creation, was released on November 21.

NEX is stated to be a trade and payment platform that combines the NEO blockchain with an off-chain matching engine to enable faster and more complex trades than existing decentralized exchanges. 

The whitepaper and roadmap were published on the official website on NEX service. It was stated that NEX plans to hold token sale in the first quarter of 2018, planning to sell 25 million tokens to the public of a total pool of 50 million. The exact dates of the token sale are unknown yet.

On Novemer 19, the price of NEO cryptocurrency jumped up due to the announcement of Malcolm Lerider, NEO council and senior R & D Manager, which did not contain any exact information but stated that three pieces of news were yet to come in 3 days. The news of the release of NEX platform seems to be one of the big news alongside with the news of first NEO and Microsoft developer’s competition which will be held from November 20, 2017 to  March 10, 2018.

During last 24 hours NEO has been steadily losing its positions falling down by almost 10% from the price of $42,8 with market capitalisation of $2,7 billion on November 20 to the price of $36,9 with market capitalisation of $2,4 billion on November 21.

At the moment of press, these are main market parameters of NEO:

  • Average price: $36,97 
  • Marketcap: $2,402,829,000 
  • 24h volume: $242,893,000

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   59

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.