NEO (NEO) Releases Version 3.0 Development Roadmap

NEO Co-Founder Da Hongfei speaking at NEO DevCon2019 (NEO / Medium)

The team behind NEO (NEO) has finally published the long-awaited roadmap for the development of version 3.0 of its blockchain platform.

According to the announcement, NEO 3.0 will include the following features:

  • dBFT 2.0: a recovery mechanism that greatly improved the stability of the Delegated Byzantine Fault Tolerance (dBFT) is a consensus mechanism.
  • Pricing model: NEO plans to address the issue of high GAS costs of deploying and running smart contracts.
  • Internet Resource Access: a built-in oracle implementation that allows smart contracts to access Internet resources during execution.
  • P2P Protocol: redesigned to add support for the UDP communications protocol, and enable compression options.
  • NeoVM: a lightweight virtual machine for executing smart contracts. It features fast startup, low resource consumption, and supports multiple high-level programming languages to allow developers to build contracts with familiar tools.
  • Simplified Architecture: all assets are created in smart contracts, including NEO and GAS, in an effort to unify all transaction types.
  • NeoFS: a distributed decentralized object storage platform integrated with NEO.
  • NeoID: a decentralized identity protocol built on NEO. It empowers users and organizations to have better control of their identities and delivers a higher degree of trust and security to the smart economy.

“The development of NEO 3.0 began in Q4 of 2018 and is expected to be completed in Q2 of 2020,” states the NEO team. “For quality assurance purposes, a review phase will be set up, during which imperfect features will be removed and necessary new features will be rigorously tested. Due to this security-focused approach, a several month delay may occur before the official launch of NEO 3.0.”

This news comes roughly two months after NEO Global Development (NGD) expanded to the U.S. with the launch of a regional office in Seattle headed by former Microsoft (MSFT) exec John deVadoss.

NEO is currently up 0.5% on the day to $‚ÄĮ9.45, giving the altcoin a $618 million market cap and making it the 16th largest cryptocurrency in the AltDex 100 Index (ALT100).

More: Roadmap of NEO 3.0 Development

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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