Switcheo Exchange Released, Launches Own Token

Switcheo released a cryptocurrency exchange, partnered with NEO Global Capital and announced the release of its own token
27 February 2018   675

The new version of Switcheo Exchange, which lets users trade any NEP-5 token with NEO and GAS immediately, has been released recentlyon February 21, 2018. The users of the exchange are now able to see if someone beat them to the order within the same block, in which case, automatic retries will happen, and additional gas can be paid for priority to prevent that from happening too often.

The next day Switcheo Team has announced it’s strategic partnership with NEO Global Capital.

Switcheo and Neo global capitalSwitcheoNetwork and Neo Global Capital Partnership

In the future, Switcheo plans to add such feautres as market sells, and trading on other blockchains.

Current features of the exchange:

  • Decentralized Exchange: Switcheo manages the entire trading experience on-chain, giving users the experience of a centralized exchange with the security of a decentralized exchange
  • Security of Funds: Users are in full control of their funds when trading on Switcheo. Switcheo’s smart contract only does trade settlements. No more loss of funds from exchange hacks
  • Trade all NEP-5 Tokens: With Switcheo’s Dynamic Call function, new NEP-5 tokens become available to trade as soon as ICO ends

Moreover, Switcheo announced that it will launch a native NEP-5 token on March 16, 2018 at 8PM (SGT), with the price of 8 908 SWH for 1 NEO. All in all, 200,000,000 SWH tokens will be sold to the public for a hardcap of $3,200,000 USD.

NEO to Release New High Scalability Platform

New solution is targeted at large enterprise clients
12 July 2018   316

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.