NEO, it’s been referred to as the Bitcoin of China and its a crypto project with massive potential. Granted, NEO may be stagnant at the moment and in terms of value, it’s not having the most incredible time. Either way though, the future is bright for this one. At the time of writing, NEO is valued at $15.11, down 19.94%. This current decline in NEO is as a part of the organic market trend, a bear market that is battering crypto at the moment. NEO’s neighbours Dash and Ethereum Classic are down 17.06% and 17.71% respectively, just to give you an idea of the scale of this market collapse. Caterina Zhang, the Head of Marketing and Community Operations at NEO has spoken to AMB Crypto in an exclusive interview in which she discusses some of the future prospects for NEO, including plans to improve NEOs scalability and a plan to increase the networks transaction speed. You can see the full article for yourself, here. According to AMB Crypto, in reference to a new upgrade, NEO 3.0, Zhang said:
“This NEO platform will provide higher transaction per second [TPS], automized stability and make the NEO platform ready for the real enterprise use cases to be deployed on top it.”
“As for the storage capacity we are also researching on the NEO FS, NEO’s decentralized file storage. We have NeoX protocol in our roadmap which will allow the cross chain interoperability.”
The plan for NEO 3.0 is to eventually see a TPS of 100,000 by 2020. This is compared to a current average of 100 TPS on the NEO network. In the interview, Zhang also discusses a problem with spam transactions on the NEO network and highlights how NEO 3.0 has been designed to help reduce instances of this:
“When exchanges are facing congestion of the transactions they can implement certain GAS fees in order to prioritise certain transactions. The network is operating well despite the spam and we are continuing to improve the platform and development will not be stopped by such a spam attack.”
The future looks bright for NEO. The conception of NEO 3.0 is just the start of NEO’s progression. By 2020 we should expect to see 100,000 TPS, but it doesn’t mean NEO will stop there. This is a project with an ambitious outlook and NEO really does have the chance to fly, not just in China, but across the rest of the world too.
Robert first came across Bitcoin in 2016 during a meetup in Belgium, and has been hooked ever since. With a background in Economics, you can find Robert frequently looking at the Twitter feed of the SEC for any regulatory updates relating to Bitcoin and Crypto in general.
Make sure you Subscribe to our mailing list to get the latest in market updates!