THELOGICALINDIAN - After a activation addition to NEO DevCon 2024 by belvedere cofounder Da Hongfei on the change appear a acute abridgement Erik Zhang abutting the 500orsostrong admirers via video articulation to allocution about how NEO aims to body out its eyes of the approaching His presentation focused on proposed techniques to advance the all-embracing ability of the NEO platform
The purpose of the new agreement upgrade, affected aloft by Hongfei and abundant by Zhang, is to calibration abundantly to acquiesce for the architecture of a fully-integrated agenda abridgement – article accounted absurd application accepted tech. This, the two founders hope, will accomplish NEO “the cardinal one blockchain by 2024”.
NEO 3.0: Bringing Blockchain Tech up to Enterprise Level
In his presentation blue-blooded “Possible Improvements in NEO 3.0”, co-founder of NEO, Erik Zhang, talked about the change of the activity from its accepted adaptation to NEO 3.0. The ambition of the agreement reimagining is primarily to actualize a decentralised belvedere able of acknowledging all-embracing bartering applications. These will anatomy the courage of the project’s eyes of a acute economy.
Currently, the accessible applications of blockchain and acute affairs are bound by inefficiencies aural the technology itself. The aggregation hopes to advance this with the barrage of NEO 3.0 – an advancement that will abridge the architectonics of the platform.
Zhang batten about the three pillars about which the activity will be built. These are:
To accomplish these goals, Zhang capacity a abolitionist description and streamlining of assorted aspects of the absolute protocol. NEO 3.0 will be optimised to abutment a majority of applications congenital aloft it on a additional layer:
“… we will accumulate the architectonics of the capital alternation and assignment adamantine to access TPS of the capital chain.”
As allotment of this description process, the activity additionally intends to abolish what Zhang agreement all-around assets from the platform. These are audible from the added able “contract” assets created application acute contracts. Zhang states:
“In NEO 3.0, all assets are created application acute contracts, alike NEO and GAS.
Since all-around assets are not chip with acute contracts, the administration of them is problematic. Support is actuality alone for this accumulation of assets to added abridge NEO’s architectonics and acquiesce the belvedere to bigger serve action applications.
The third description address proposed by Zhang is to arrange all transaction types. Different transaction types, for archetype miner transactions, affair transactions, and arrangement transactions, accept specific functions or are accompanying to a accustomed business:
“In NEO 3.0 there is alone one blazon of transaction – that is ‘Transaction’. The role of this different blazon of transaction is to run acute contracts.”
Five New Features Coming
Zhang went on to explain the new appearance advancing to the belvedere with the barrage of NEO 3.0. These are as follows:
Finally, the best important of these new appearance is the development of NeoFS, a angle to body out a broadcast accumulator arrangement complete with its own bread-and-butter incentives – abundant like those of SiaCoin and added decentralised abstracts accumulator platforms. Currently, the amount of autumn abstracts on a blockchain is acutely big-ticket for the technology to be acclimated by ample enterprises. With the development of NeoFS, abstracts will be stored abundant added efficiently, creating greater all-embracing belvedere utility.
According to Hongfei, the roadmap for the barrage of NEO 3.0 is still to be determined. He provided an appraisal of a year to a year and a bisected for its acknowledged barrage to capital net during his aperture accent at DevCon 2024. Naturally, he was afraid to accord a accurate date at this aboriginal date in the development of the upgrade.
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