NEO will launch 3.0 update on new blockchain network
|- The NEO 3.0 update is going to be on a completely new blockchain, to accommodate all improvements.
- All users will need to swap their existing tokens and data/transaction records will be migrated over to the new blockchain.
NEO has announced that their new 3.0 update is going to be launched on a completely new blockchain. It means that their users are going to need to swap from their existing tokens for the newly issued, accommodating the blockchain network migration.
The organization’s platform’s co-founder and core developer Erik Zhang detailed that the newly introduced chain, will be from a new genesis block. It is to ensure of logistical, these of which would not be compatible with their current blockchain.
Furthermore, all of the platforms data and transaction records will be migrated over to to NEO 3.0, and concurrent development branches will be in place before the mainnet’s launch. They additionally noted that plans are ready for the transition process of decentralized apps (DApps). Developers will be able to resume their building of Dapps, because most new features are backwards compatible.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.