One of the creators of NEO cryptocurrency, Eric Zhang, told reporters that he was not at all interested in the current value of the coin. In an interview with CCN, he stressed that at this stage, the NEO development team focused on improving the bandwidth capabilities of the cryptocurrency.
There is no need to spend time on maintaining the high rate of the coin, since our main task now is to increase the productivity of NEO.
We are improving blockchain to make our cryptocurrency project even better.
What are the main differences between NEO and Ethereum at the technological level? And at the far-sighted level?
Zhang noted that although NEO is called the “Chinese ethereum,” these assets still have a different foundation. These are completely different projects.
“NEO and Ethereum have their own tokens. All of them can execute smart contracts with full verification. But they also have a big difference. First, their consensus mechanisms are different. Ethereum uses the PoW algorithm, and NEO uses the dBFT algorithm, ”he says.
Ethereum wants to be a global computer that cannot be stopped as long as NEO wants to serve a reasonable economy.
What’s new in NEO at the moment? What will happen next?
The goal of the blockchain NEO is to launch large-scale commercial applications.
To achieve this goal, we do two things. The first is to improve the NEO infrastructure so that it has a higher data transfer rate and a more reliable dBFT matching algorithm.
“After half a year of development, the improved NEO dBFT matching algorithm should be completed. dBFT will be the best consensus mechanism for blockchains.
“The second is to develop a distributed storage network NeoFS so that applications can store huge amounts of data. The development of the first release candidate (RC1) for NeoFS is expected to be completed in the third quarter of 2019.