The outstanding Development of NEO3.0
There is no doubt that NEO is still one of the most promising projects in the whole cryptoverse. NEO was always seen as a more user-friendly alternative to Ethereum. Back in the days when Ethereum had still the old and clumsy Mist Wallet, NEO showed with the NEON Wallet, how a modern cryptocurrency wallet should look like. Claiming GAS Tokens was as easy as just clicking a button.
These days NEO - once again - tries to show the world again, how blockchain technolgy should be done. This time the complete NEO blockchain will be revamped and NEO will enter a new stage called NEO3.0.
What is NEO3.0?
NEO3.0 will be a completely new blockchain with a new genesis block. This means that holders of NEO will have to swap their legacy NEO tokens for NEO3.0 tokens. The NEO3.0 blockchain is packed with new features. The highlights of the new release are:
(1) Lower prices for Smart Contract deployment
(2) NEO will become a divisible Token
(3) NEOVM supports multiple high-level Programming Languages
(4) NEOFS - which is a fully integrated, distributed, decentralized object storage platform
(5) NeoID – NeoID is newly introduced decentralized identity protocol by NEO
Roadmap of NEO3.0
How can I migrate?
As mentioned earlier, it will be necessary to swap the legacy NEO Token with the improved NEO3.0 Token. Many exchanges already announced that they will support the tokenswap and therefore most users will not have to manually swap their tokens. The NEO foundation also announced that there will be an early-adopter bonus, which means that you will get additional NEO3.0 Tokens if you swap your Tokens at the beginning of the transition phase.
The release for NEO3.0 is scheduled for Q1 2020. You can follow the progress of NEO3.0 on their official GitHub account. Already 58% are done!