In a significant move toward decentralization and diversity within its ecosystem, Neo, the open-source, community-driven blockchain platform, has announced that HashKey Cloud has joined the Neo Council as a key member. The Neo Council, composed of 21 influential entities, plays a pivotal role in maintaining the health and vibrancy of the Neo network. Notable members of the council include industry leaders such as Binance Staking, Flamingo Finance, and COZ.Neo has been actively working on enhancing its decentralization through an <a href="https://blockchainreporter.net/glossary/on-chain/" rel="noopener noreferrer nofollow">on-chain</a> governance mechanism, founded on a dual-token voting and rewarding system. The Neo Council, a critical component of this mechanism, is selected through a voting process by NEO token holders, allowing them to choose candidates capable of representing their interests and contributing to the overall well-being of the Neo network.The on-chain governance mechanism involves the generation of 5 GAS tokens every block, with 80% (4 GAS tokens) distributed among successful voters and 10% (0.5 GAS token) allocated to the Council Members. The responsibilities of the elected Neo Council members include adjusting blockchain parameters, electing oracle nodes, and serving as consensus nodes, thereby playing a vital role in processing transactions on the Neo network.<h2 id="header-0">Fortifying Blockchain Diversity</h2>The addition of <a href="https://www.hashkey.cloud/" rel="noopener noreferrer nofollow">HashKey Cloud</a> to the Neo Council not only expands the diversity within the Neo community but also solidifies a strategic partnership between the two entities. This collaboration is anticipated to foster increased cross-platform user engagement and propel the growth of the Neo ecosystem.Da Hongfei, Founder of Neo, highlighted the significance of HashKey Cloud’s inclusion in the Neo Council, stating, “The addition of HashKey Cloud to the Neo Council is a testament to our commitment to diversity and decentralization. As a global Web3 infrastructure provider, HashKey Cloud’s expertise will be invaluable in guiding the growth and sustainability of the Neo ecosystem.”As of the writing of this article, the Neo Council boasts a lineup of industry leaders such as Binance Staking, Everstake, and InfoStone, as well as Neo-based projects including Flamingo Finance and GhostMarket. Additionally, members of Neo’s developer communities, such as COZ and NeoSPCC, contribute to the overall strength and innovation of the Neo ecosystem.Founded in 2014, Neo has positioned itself as an open-source blockchain platform designed to welcome developers into the Smart Economy. By enabling the digitization and automation of asset management through smart contracts, Neo strives to realize the optimized digital world of the future.As the most developer-friendly blockchain, Neo integrates seamlessly with widely used languages and tools, offering a feature-complete blockchain platform for building full-stack decentralized applications. With native support for powerful infrastructure, including decentralized storage, oracles, and domain name services, Neo serves as the ideal foundation for developers to build the next generation of the Internet.HashKey Cloud, as a leading provider of global Web3 infrastructure and a core member of the HashKey Group, focuses on delivering professional, stable, secure, and compliant blockchain services worldwide. Since 2018, HashKey Cloud has been deeply committed to blockchain infrastructure technologies, covering over 40 mainstream public chains with its staking services and exploring Ethereum Layer2 and Bitcoin Lightning Network technologies.HashKey Cloud’s upgraded product line includes decentralized identity (HashKey DID), compliant liquidity staking products (EPotter), STO infrastructure services, and Appchain node operations products. With a dedication to meeting diverse client needs and providing top-notch services to the global market, HashKey Cloud is poised to contribute significantly to the Neo Council and the broader blockchain ecosystem.

Neo Council Expands Reach as HashKey Cloud Joins Esteemed Roster

Table of Contents

BlockchainReporter

Other articles published on Dec 19, 2023

Generative AI / Play To Earn Startup CityBoys Set To Launch On The Cardano Blockchain

Palau proceeds with Ripple to Phase 2 of PSC currency program launch

Deaton Sparks Debate on Bitcoin ETF Marketing Race Amidst New Bitwise Campaign

Avalanche would trade at this price if AVAX hits its all-time high market cap

Secret Price Analysis: Can SCRT Crypto Conquer ATH Before 2028?

Renowned Investor Predicts Massive Surge for XRP

Join our free newsletter for daily crypto updates!