Ethereum

Cardano

<table style="width: 100%; border-collapse:">
 <tbody>
  <tr>
   <td style="width: 100%; text-align: left;"><a href="https://en.coinotag.com/altcoin-exchange-1333421/" target="_blank" rel="noopener noreferrer nofollow"><strong><span style="color: #000000;">Before you reading, did you missed the PEPE?<span style="color: #e67e22;"> No worries, click here to 100x potential memes!</span></span></strong></a></td>
  </tr>
 </tbody>
</table>
<ul>
 <li>Neo, a sidechain designed to support Ethereum-based decentralized applications (dApps) and provide full interaction with the N3 mainnet.</li>
 <li>The sidechain will inherit key features from Neo to enhance scalability, including the Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism.</li>
 <li>Founded in 2014 and initially known as AntShares, Neo is one of the oldest smart contract platforms, initially based in China.</li>
</ul>
<p><strong>The founder of Neo, often referred to as China’s Ethereum, announced that they are in the process of developing a sidechain.</strong></p>
<h2 id="strong-neo-is-moving-forward-with-sidechain-development-strong"><strong>NEO is Moving Forward with Sidechain Development</strong></h2>
<p><img decoding="async" loading="lazy" class="alignnone size-full wp-image-130275" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="NEO" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?w=1920&amp;quality=70&amp;ssl=1 1920w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?resize=1536%2C864&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/NEO-1.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>Neo has announced that they are developing a sidechain designed to support Ethereum-based decentralized applications (dApps) and provide full interaction with the N3 mainnet. The founder of Neo, Da Hongfei, made this announcement during an event in Hong Kong.</p>
<p>This announcement comes ahead of an expected testnet by the end of the year, with the mainnet planned for a later date. The sidechain will inherit key features from Neo to enhance scalability, including the Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism. Neo’s native GAS token will be used for both governance and utility functions.</p>
<p>The sidechain aims to be resistant to Maximal Extractable Value (MEV) attacks like front-running and sandwich attacks. According to the team, the goal of the sidechain is to provide a secure platform for dApps.</p>
<p>Founded in 2014 and initially known as AntShares, Neo is one of the oldest smart contract platforms, initially based in China. The Neo mainnet has been running steadily since October 2016. The Neo virtual machine (Neo-VM) provides the network’s computation framework and allows developers to write smart contracts in their preferred languages.</p>
<h2 id="strong-the-growing-trend-of-sidechains-for-evm-compatibility-strong"><strong>The Growing Trend of Sidechains for EVM Compatibility</strong></h2>
<p>The approach of integrating Ethereum-based smart contracts with blockchains that do not natively support the Ethereum Virtual Machine (EVM) using parallel blockchains known as sidechains is becoming increasingly popular.</p>
<p>In addition to Neo, blockchain networks such as XRP Ledger, Horizen, and Cardano have developers working on EVM-compatible sidechains to introduce Ethereum dApps or various stages of application integration.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/chinas-ethereum-neo-makes-a-critical-announcement-new-developments-highlight-neo/">China’s Ethereum, NEO, Makes a Critical Announcement: New Developments Highlight NEO!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
<table style="width: 100%; border-collapse:">
 <tbody>
  <tr>
   <td style="width: 100%; text-align: left;"><a href="https://en.coinotag.com/altcoin-exchange-1333421/" target="_blank" rel="noopener noreferrer nofollow"><strong><span style="color: #000000;">Did you missed the PEPE?<span style="color: #e67e22;"> No worries, click here to 100x potential memes!</span></span></strong></a></td>
  </tr>
 </tbody>
</table>

China’s Ethereum, NEO, Makes a Critical Announcement: New Developments Highlight NEO!

Table of Contents

CO NEWS

Other articles published on Oct 27, 2023

ETF Coin ($ETF): Riding the Wave of the Bitcoin ETF Hype to New Heights

‘Buy Bitcoin’ Queries Skyrocket on Google: Details

Stage 4 of VC Spectra’s Presale Shows Strong Performance as Dogecoin (DOGE) and Tron (TRX) Prepar...

To eventually replace MATIC, Polygon introduces the POL token contract on Ethereum.

CHZ Face Minor Dip Despite Chiliz’s ‘No More Governance Hurdles’ Announcement

‘Where Deals Get Done’: Benzinga Kick Off Flagship Conferences Recognizing and Fueling Innovation...

Join our free newsletter for daily crypto updates!