Neo update: NEO/USD surges by 3% as dBFT version 2.0 gets released

NEO/USD went up from $9.08 to $9.38 this Thursday.
Erik Zhang, the co-founder of NEO, revealed that version 2.0 of the delegated Byzantine Fault Tolerance mechanism (dBFT) has been updated.

Rajarshi Mitra Independent Analyst

NEO/USD has had an extremely fruitful Thursday as its price went up by 3% from $9.08 to $9.39. The price was boosted by Neo co-founder, Erik Zhang’s announcement that NEO blockchain’s consensus algorithm, the delegated Byzantine Fault Tolerance mechanism (dBFT) version 2.0 has been updated. He tweeted:

“dBFT2.0, a very important component of NEO 3.0, has been developed and released as NEO CLI v2.10.0. Soon it will be deployed to TESTNET and upgraded on MAINNET thereafter.”

Zhang also tweeted that dBFT version 2.0 will be a critical part of NEO 3.0, which is “a system-wide upgrade of NEO that is expected to go live in 2020.”

NEO/USD daily chart

With the NEO/USD market steadily on the rise, the bulls will need to break past resistance at $10. The last time they were able to do that was on 23rd February, which was followed by an immediate drop in value. Bulls will need to gather enough steam to break past the barrier and fight off the bulls to prevent any downward momentum.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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