️Update️- Neo | Decentralization? CoZ nodes & NEO 3.0

by birtanpublished on September 26, 2020

hey what's up guys welcome back today I'm here to do a video review kind of update on neo I covered the project back in February and they've had a lot going on since then I've noticed that everybody seems to

Like the update videos I think it's useful for myself and for the community to kind of just keep tabs on what all these projects are doing because there's always so much going on Pleasant reminder if you haven't liked or

Subscribed yet please do so and I want to shout out everyone who is always supporting my channel you guys Rock quick reminder I am NOT a financial advisor all investments have inherent risk and please do your own research if

You'd like to support my channel you can do so by going on my website and picking up some merch I've got quite a few things up there for sale now as well as checking out my patron if you're interested and as usual I'll leave all

The links down below alright let's get to the good stuff so what is neo been up to well from February to March they went to 17 different blockchain events in addition they also made significant changes to the documentation progress on

Decentralization development updates and processed further refunds for their Neo sponsor giveback program on May 14th neonatology signed an mou concerning strategy and technology basically the purpose of this was to bridge the gap

Between the permissions of ONC and the permissionless neo blockchains so pretty much neonatology will cooperate to create some marc contract ecosystem and support the development of the neo BM or the neo virtual machine and the neo

Contracts as well as collaborate on developing smart contracts open standards this is really no surprise because ONC and neo have been pretty close I'm considering the two or running the company so it's interesting to see

Them partner and it's definitely important I always say that I think longevity in this space is going to be by making partnerships and working together with different blockchain tech and then in May the city of Zions signed

A proof of working update this is showing that the city of Zion continues to execute the 20/20 vision for neo like clockwork May was super productive on the groundwork for neo sharp and neo supporting ecosystems to achieve this

Vision coz is implementing a new workflow for proposing innovations onto neo for those of you who don't know the city of Zion is one of the biggest developments groups that works on neo and they are all done as a volunteer

Basis they've created a lot of stuff of the project most famously is their neon wallet which everybody pretty much uses across the board and then recently in June neo had to implement the parameter called max transactions

Per block and they set it to 500 because apparently there was an increase in transactions on the neo network and they believe that some of them may have been meaningless and forcibly trying to cause an attack on neo neo is designed to be a

High-performance blockchain system that can handle high transaction per second scenarios and events such as this so this is the information in regards to understanding kind of what happened this max transactions per block mechanism was

Created to protect neo from malicious attacks just like these ones and basically what they're doing is they're trying to flood the network with meaningless transactions and neo is trying to shut that down in a safe way

And then I'm July 4th neo took a step closer to becoming fully decentralized the neo network has begun with the election of a city of Zion consensus node onto the neo main net I just kind of talked about this briefly of the city

Of Zion is a global independent group of open-source developers designers and translators formas supports neo core an ecosystem so the city of Zion consensus node have been running smoothly on the test net for six months

Prior to the election and several other independent consensus nodes are also running on the test net and they plan to be voted in the end of 2018 one of the major complaints we hear a lot about these projects is everybody says oh well

There's so centralized and so on I mean obviously to start most of them have to be because they are kind of bootstrapping and getting up and running but obviously neo has been doing a very good job at getting itself developed and

Hitting its milestones so it's very cool to see that it's starting to move towards being decentralized and that there's going to be new nodes running on the network what is next for neo neo 3.0 I don't know if any of you guys had

Heard about it but it's the development that started in last quarter so q2 2018 neo 3.0 will be the entirely new version of neo platform built for large scale enterprise use cases it's gonna provide a bunch of things including increased

TPS adjusting the economic model I actually talked about this on the livestream with Nathan and Kate up from crypto zombie they're pretty much making it so that new is now divisible basically you could never have half of a

Neo you could only have a whole number or a whole integer of neo they did that I'm guessing because they thought that it would be more stable but they were finding that there's issues and roadblocks with the utility of neo and

The gas tokens so to solve this problem some adjustments the economic to be made I actually talked about this with crypto zombie again we were saying that apparently there's some black hole address addresses that are causing

Issues because they're accumulating gas if you're curious k-dubb actually did a video on that that was pretty good so you should go check it out they're also going to be doing cross-platform smart contracts which

Will be able to be executed on different blockchain platforms that are made compatible with neo 3.0 very cool I always say how interoperability is basically the future of all of these projects because they're all like little

Islands right now kind of doing their own thing and we need to find ways to bridge them so that they're working together to be the most beneficial for us for the community and for the project's themselves that pretty much

Wraps it up for me for the update for this video if anybody is looking for a place to get reliable information on neo neo news today comm is an awesome website they cover basically anything in all things neo and projects built a neo

So you see ontology news all kinds of other stuff on here it's very very useful airdrops anything else that's going on this is a great reliable place to get your information all right guys thank you as usual for watching I really

Appreciate the support if you haven't liked if you haven't subscribed please do so and I will see you guys soon

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