In January NEO hit a high of over $178. Since then it’s been all downhill and now trades in the $30s, down over 80%.
This is typical of most every project this year. Let’s see what’s new with NEO and what could potentially propel the price higher.
In early July NEO announced it’s now entering the era of decentralization.
That’s where the NEO Foundation initiated the election of new consensus nodes. City of Zion (CoZ) is an independent, international group of open source developers working on NEO blockchain.
Per the NEO Foundation they already elected City of Zion to run one of the consensus nodes.
The plan is to elect other partner consensus nodes, like telecom firm KPN, before the year is out. And then in 2019 NEO plans to open public campaign for election of all consensus nodes.
On the development front NEO announced NEO 3.0 is next on the roadmap.
According to core developer Erick Zhang NEO 3.0 will be an entirely new version of the NEO platform, built for large scale enterprise use cases. It will provide higher TPS and stability, expanded APIs for smart contracts, optimized economic and pricing models, and entirely redesign NEO's core modules.
Notable improvements are that they will make NEO divisible and they will make adjustments to the pricing model so that the cost of running and deploying smart contracts will be significantly cheaper.
Follow the progress here. The future is still bright for NEO.
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