In the middle of a massive financial and health crisis, NEO released its new global monthly report. The main thing to mention is that all the NEO Global Development employees in Shanghai are now safe and encouraged to work from home if it is possible for them. In addition to it, the report is going to be divided n four categories so as to make it easier for users to gain knowledge about the topics desired.
Neo Releases Global Report
As per the report, the NEO development community has been discussing the Neo3 governance model and how it is possible to improve it. Moreover, they have also held meetings in relation to how to complete most of the critical Neo3 components by the middle of the second quarter of this year.
In addition to it, there has been good progress in terms of the Neo3 economic model. At the moment, the main goal is to optimize efficiency and make it better for users to work on the NEO chain at all times.
Regarding the development of NEO Core, they have updated the system to the latest neo-vm version and allowed the activation and implementation of multisig contract use in wallets for the community. This would make it easier for companies and firm to operate in the market and handle their funds in a fast and easy way.
Furthermore, there were some discussions regarding the alias service and a storage payback mechanism for the community. Although these things are being currently discussed, they could be implemented in the future.
Incognito Chain Releases Privacy Bridge on NEO
Privacy is an important thing in the cryptocurrency market that users usually appreciate. This time, Incognito Chain announced they have completed their privacy bridge that would be implemented on top of the NEO Blockchain. This would allow users to swap NEO tokens to a shielded version that uses the Incognito sidechain.
In this way, the funds can be transferred privately and opening a swap back to the NEO blockchain when the transaction is performed. This implementation aims at granting total anonymity to users and allowing individuals to get similar levels of privacy as on the Monero (XMR) network.
The system works by creating pNEO privately on the Incognito chain backed by NEO funds. Once that is done, the transaction can be processed on the Incognito chain and through the reverse process, the pNEO is burned and the funs are returned to the NEO chain.