NEO Is in Talks to Integrate Celer Network to Improve Scalability

As industry-focused news outlet Crypto Briefing reported on Aug. 17, John Wang, NEO’s director of Eco Growth, said that integration with Celer is under discussion. Celer’s platform is a solution that enables faster off-chain transactions both for payments and generalized off-chain smart contracts. 

Blockchain project NEO is considering integrating Celer Network’s (CELR) layer-two scaling protocol to improve scalability.

In March, major crypto exchange Binance’s token launch platform, Binance Launchpad, completed a $4 million sale of CELR tokens, following two other initial coin offerings such as the BitTorrent (BTT) token sale in January and the Fetch.AI (FET) token sale in February.

Faster transactions, more possibilities

To transfer value across the network, Celer uses its native CELR tokes. According to the report, community members say that Celer is fifteen times faster than Bitcoin’s (BTC) Lightning Network. Commenting on the development, Wang said:

“A public blockchain is more than a currency: it needs to have the infrastructure for lots of users to come to it … to enable people to do anything.”

New prospects for scaling

Earlier in August, blockchain-based decentralized application platform (DApps) Tron (TRX) released a sidechain scaling solution, the V1.0 code, designed to enhance and ensure the supposedly unlimited scaling capacity of the Tron mainnet. This will purportedly let DApps consume less energy and run with higher security and efficiency on Tron.

NEO Global Development Announces Pilot Network for Next Year’s NEO3

NEO is launching the NEO3 Preview1 on a pilot testing network today, intending to introduce its developer communities to major updates in NEO3.

First NEO3 TestNet

On Sept. 17, in a press release shared with Cointelegraph, NEO Global Development (NGD) announced that it is releasing the NEO3 Preview1 build.

Despite the fact that the official release of NEO3 is not until next year, the Preview1 build provides several insights into architectural changes and some major updates. In response to the release, Erik Zhang, NEO Founder, noted that:

“Through the NEO3 Preview1 pilot, we’ve advanced forwards towards our goal of delivering large-scale commercial applications – something which I believe is of critical importance for achieving a smart economy as well as next-gen Internet. Moving forward, we aim to further accelerate NEO3’s development to overcome current roadblocks and deliver unmatched stability, throughput, and an optimized developer experience.”

NEO partners with Ontology

Cointelegraph reported in July that Chinese blockchain platforms Ontology and NEO were partnering to create an interoperable protocol in a bid to spur development of the next-generation internet. The two blockchain firms reportedly intended to build an open, global cross-chain platform based on an interoperability protocol that would harness both companies’ strengths.

Neo Becomes .NET Foundation’s First Blockchain Member

Neo, a decentralized open source blockchain application platform, announced that it became the first-ever blockchain member of Microsoft’s .NET Foundation.

In the press release published on Sept. 24, the platform stated that during the .NET Conference 2019 Neo “joined the .NET Foundation, the Microsoft-created, globally leading open-source foundation”, adding:

“Based on their shared open-source heritage, NEO and the .NET Foundation will further empower millions of developers to build the foundation for next-gen Internet. This partnership comes after NEO’s release of Blockchain Toolkit for .NET and NEO Express in September.”

Per the announcement, Neo shared a preview of its Blockchain Toolkit during the conference, which included various apps such as Smart contract debugger, Neo Express, Visual DevTracker and others.

Big Neo update coming

As Cointelegraph reported previously, Neo, the 21st-biggest coin by its market capitalization, will have a major upgrade to Neo 3.0 in the second quarter of 2020. The upgraded version is expected to be launched as a new blockchain network, where users will need to swap their existing tokens for new ones.

According to Neo co-founder and core developer Erik Zhang, the update is necessary because a number of architectural improvements to Neo’s performance are not compatible with its current blockchain.

Cointelegraph Analytics notes that the current version of the Neo blockchain is only receiving bug fixes and has the simplest set of features, while the Neo 3.0 upgrade will have a number of improvements.

Those improvements will include cheaper transactions and deployment of smart contracts and a faster blockchain powered by a unified transaction model.

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