The NEO team introduced the N3 platform, the testnet of which was opened last week. N3; Although NEO is promoted with the slogan “all in one”, it is valued at over 3% in 24 hours and is trading at $ 41.24.
NEO developers shared details of the N3 version introduced in July 2018. The update, which will include products such as NeoID, started testing this month.
While work has begun to migrate from the old version to the new version, no exact date has yet been specified for the NEO N3 mainnet. NEO founder Da Hongfei will hold an AMA on March 29.
Up to 100 times improvement
With the Neo N3, the processing efficiency is expected to increase 10 to 100 times compared to the current version. In addition to the increase in productivity, positive effects are also expected, such as an improvement in the transaction volume, an increase in security and stability in transactions.
Neo partners with Poly Network to improve scalability and liquidity. Together they work on Neo N3 projects. It is integrated with Poly Network, Ethereum and Binance Smart Chain.
What is that; He says that in the new platform, changes have been made to governance mechanisms, oracle nodes, consensus mechanism, digital identity field, and different architectures.
Also referring to the economy model, Neo will distribute GAS to both NEO token holders and nodes to encourage voting and network participation.
Community is more important now
It is argued that N3 will be community based in the on-chain governance and economic model. It is intended to encourage the entire community to take part in the vote and thus create a dynamic in governance.
Finally, Neo plans to run a hackathon on N3 TestNet on March 25th. Neo said promising projects will be supported with the $ 100 million EcoBoost initiative.