During the last year the NEO project has been growing in many different ways. The developments performed by the team behind it showed the power and potential that this network has. For example, one of the main developments of the last year was the accomplishment of the NEO 2.X. which provided essential infrastructure mechanics for the NEO Smart Economy.
NEO and its Future
As the year is passing, it is time to look forward and keep working on future network upgrades. For example, the next step will be the NEO 3.0.
Erik Zhang, NEO co-founder and developer, explained:
“NEO3.0 will be an entirely new version of the NEO platform, built for a large scale enterprise use cases. It will provide higher TPS and stability, expanded APIs for smart contracts, optimized economic and pricing models, and much more. Most importantly, we will entirely redesign NEO’s core modules.”
Among the main improvements we can mention increasing TPS, bug fixes, and adjustment of the economic model, upgraded smart contracts, native contracts, new APIs, and many other developments.
The adjustment in the economic model will be related to a small increase in the supply of GAS every single year, a reward for consensus nodes, make NEO divisible and allow gas to use the decimal part when is used for paying the network fees.
NEO built a dual-token economic model that was very successful. But there were some problems, NEO was indivisible and GAS couldn’t be divided when paying for fees.
Of course, these developments will have a good impact in the price of NEO. At the beginning of the year, this cryptocurrency was traded around $120 dollars, and reach its highest point when it hit $160 dollars.
The NEO ecosystem is built on many different pillars, including identity, infrastructure, research content, artificial intelligence and more. All the developments in these areas are going to help the price evolve and move towards new all time highs in the future.
Identity, infrastructure, research and similar projects will be driving the growth of the NEO smart economy and ecosystem.