Open-Source Project Unveils Detailed Road Map for New Mainnet
An open-source project has allocated $100 million to a new initiative that is designed to fuel the organic growth of its blockchain-based smart economy.
An open-source project that aims to create a smart economy based on blockchain technology has unveiled a new program designed to fuel its ecosystem’s growth — while setting out a detailed road map for its new mainnet.
Neo says its EcoBoost scheme has been designed to support developers and projects that are already in its ecosystem, as well as those that wish to join. A total of $100 million has been allocated to the initiative — and in the first phase, the firm is seeking to establish long-term partnerships that will fuel the organic growth of its network. Media outlets, exchanges, decentralized application (DApp) distribution platforms and other blockchain infrastructures are being encouraged to express an interest in becoming an EcoBoost Partner, and Neo says it has already received numerous applications from “leading institutions and projects in the industry.”
According to Neo, these collaborations have the potential to be mutually beneficial, as in return, partners will gain exposure to the ecosystem’s “sturdy technical foundation, strong community presence, and years of experience in community operations.” In cooperation with EcoBoost partnerships, the company will provide “a network of support to projects in the Neo ecosystem at different phases of their life cycle, from seed phase, to growth, and maturity phases.”
Since the completion of phase one, Neo has launched the second phase of its EcoBoost scheme, which involves recruiting teams that are building DApps and developer tools to apply for support that’s based on the current status of their project — as well as what they need to succeed. Already, Neo notes it has succeeded in recruiting strong partners such as Switcheo Network along with high-promise projects such as TonArts, a blockchain gaming platform.
The third and final phase is going to be focused on accelerating development by directly connecting projects with partners. Support will be offered throughout each project’s life cycle — including research and development, marketing resources, user base growth and assistance with connecting with exchanges.
Launching Neo 3.0
As reported by Cointelegraph previously, the platform recently unveiled Neo 3.0 — “a robust blockchain implementation with high throughput, enhanced stability and security, an optimized smart contract system, and a feature-packed infrastructure set for diverse business application scenarios.”
A new blockchain network has been developed due to compatibility issues between its old mainnet and several architectural improvements to Neo’s performance and stability. Neo’s founder, Eric Zhang, said at the time that he has bold ambitions for the future — and noted Neo 3.0 delivers the potential for large-scale applications to operate using blockchain technology. He added: “We'd like to see applications such as YouTube, AliPay, and gaming giants like Tencent and Blizzard run on blockchain, and NEO3.0 will allow these big organizations to do that.”
In other developments, the ecosystem’s pricing model is being given a radical overhaul in Neo 3.0, as the team believes that there has been a widespread reluctance to use and develop smart contracts because of high expenses. The new mainnet aims to “significantly reduce the deployment and execution costs” in order to expand application scenarios and increase the number of DApps. This will be coupled with a new feature that enables smart contracts to access internet resources as they are being executed.
A testnet for Neo 3.0 is on the verge of being launched, and new features are constantly being deployed so developers can test their DApps on demand. It is expected that development on Neo 3.0 will be fully completed by the middle of 2020, and a migration plan is set to be revealed at the start of next year.
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