NEO continues to expand in the cryptocurrency market with important and meaningful developments on its network. In this article, we will share the main improvements on the NEO network that took place in recent days and that could help NEO move higher in terms of valuation.

NEO Summer Challenge

NEO is going to be hosting a question-and-answer challenge that will allow users to get rewarded in NEO and merchandise. Users on the WeChat platform will take place in three separated seasons in August, September and October. 

Each of the seasons is going to include the 100 questions for participants. It is worth pointing out that teams of two participants will engage in one-to-one matches with other teams, while the second format will allow users to select an answer from several options. 

The best players will receive NEO rewards and others will get NEO merchandise. The rewards will be shared with the participants once the season ends. 

NEO3 Preview3 Release

NEO Global Development (NGD) announced they are releasing Preview3, focusing on protocol improvements and bug fixes. This would include an improved block synchronization mechanism and new voting capabilities. The main goal is to improve the governance structure of the network. 

At the same time, it may be possible to create the necessary infrastructure for improving the voting user experience. This is certainly important to continue with the decentralization of the NEO network. 

There are going to be other improvements, including a new try-catch mechanism for exception handling. There have been other improvements that will certainly improve the network and help the ecosystem to continue growing in the coming months. 

Da Hongfei Talks About DeFi on NEO

Decentralized Finance (DeFi) has been a hot topic in recent weeks as this sector of the crypto industry has been showing large potential in order to continue expanding and offering solutions to users. 

Da Hongfei considers that the NEO ecosystem is missing essential DeFi components. This is why they could start focusing on new and improved solutions in terms of decentralized finance. 

Da Hongfei commented about the DeFi Market:

“Although there are speculative factors in DeFi, it also demonstrates a new way to build financial products, integrated like a lego style financial product. My understanding of DeFi is that it’s highly speculative, but has a more symbolic meaning for the financial industry.”

One of the improvements that could be made are related to non-custodial exchanges that could be launched on the NEO ecosystem.