NEO
$16.45 -1.29%
NEO · 11w

Monthly report for july!

NEO Global Development Monthly Report — July

A small, yet important, milestone was achieved during the summer.

NGD hosted a development challenge to build a monitor page for consensus nodes, and after completion, CoZ was voted in as consensus node on MainNet. This is by no means big news, but still an important step in decentralizing, primarily from a technical standpoint. CoZ is NEO’s biggest development community, so in terms of political decentralization, there is of course more work to do.

Both KPN and Fenbushi Capital are now running consensus nodes on TestNet, and their coming entry to MainNet will be a bigger step in political decentralization. In the meantime, we encourage more development communities and NEO projects to launch public RPC nodes.

Consensus Nodes are assigned by voting, and providing public RPC nodes with good uptime and quick upgrades will provide a good argument when running campaigns to be selected as consensus node. At the same time, I want to clarify that the NEO Foundation do not have as much voting power as some media have suggested; number of consensus nodes are calculated from weighted average on mid-50% of votes. This mean that the top 25% and bottom 25% of outliers do not count when deciding total number of consensus nodes. The NEO in circulation will already have an impact on voting outcome, although NEO Foundation will continue to vote in a manner that represent our view on responsible decentralization from both technical and political perspective.

In July, NEO founder & core developer Erik Zhang wrote a blog post about NEO 3.0. NEO 3.0 will be an entirely new version of the NEO platform, built for large scale enterprise use cases where higher TPS and stability and large-scale data storage are typically demanded. NEO 3.0 aims to reinforce the infrastructure to support the implementation of large-scale commercial use cases on NEO blockchain, which is a necessary step towards smart economy. You ...

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