Neo 3.0 will launch on a new blockchain and swap existing …

Neo 3.0 will launch on a new blockchain and swap existing tokens

Crypto project Neo plans to launch the third version his protocol in new network that will require from holders asset exchange their tokens, writes Cointelegraph.

Neo 3.0 will launch on a new blockchain and swap existing ...

By words Neo co-founder and lead developer Eric Jean, Neo 3.0 chain will take its origin from a new genesis block. Performance of this terms is an a necessity because several architecture-level performance and scalability improvements are not compatible with the existing blockchain.

According to a statement the project, everything data and records of transactions will be migrated to the Neo 3.0 network. Together with themes, developers of decentralized applications may continue to work on their products, as most of the new features have reverse compatibility.

Jean states that renewal will significantly increase the speed and stability of the Neo network, as well as make her suitable for large-scale commercial applications. Expected to work over the new blockchain will be completed by the second quarter of 2020 of the year, and the test network will launch by June. New opportunities will be be added when ready.

“When we say that Neo 3.0 will be ready for large-scale commercial use, we assume that is he will allow run large-scale applications using technology blockchain. We would like to see apps like YouTube, Alipay, and gaming giants like Tencent and Blizzard use blockchain in the future, and Neo 3.0 will allow them this do “- added Jean.

In January, an unexpected fork occurred on the Neo network, due to whom its performance was broken for several hours.