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03 August 2018
NEO founder Erik Zhang was interviewed on the television show ‘Chain Show’. The topics ranged from the humble beginnings of Antshares to NEO’s competitors, its strong developer community and the upcoming upgrade of the NEO Blockchain, NEO 3.0! Reason enough to listen in and try to capture the highlights of the interview. You can find the full interview with Erik Zhang here.
Erik Zhang first started by discussing how he got involved with Da Hongfei in the ‘Antshares’ project, which later successfully rebranded as we all know into NEO. Erik describes that the project transformed from merely being focused on the digitization of assets, into a much richer platform when the concept of smart contracts was introduced.
Host Zhiqin Xiong, then asked him about the upcoming NEO 3.0 platform upgrade and what ‘version 1.0 and 2.0’ actually represented. Erik Zhang reiterated that the while the first version was all about asset digitalization, version 2.0 was the effective introduction of the ‘NEO Smart Economy’. With version 3.0 that vision has not changed, however, it serves to make the ‘NEO Smart Economy’ better.
Not only does NEO 3.0 provide a clearer vision of NEO’s future, it will also improve the NEO blockchain network when it comes to stability and allow for large-scale commercial applications to function properly.
He further mentioned that while he had been the one initiating the idea of NEO 3.0, it has been an effort from the entire development team behind NEO, which has led to the full extent of the proposed changes as NEO really abides by the idea that no single authority or individual sets the path forward.
With the goals in mind, he indicated that TPS, Transactions Per Second had to be greatly improved as the public blockchain must be able to accommodate huge amounts of business data. In order to achieve this, the NEO code will have to go through some significant changes. He also discussed that fact that NEO envisions changes in the token system and that they intend to alter the economic model. He said that the proposed changes are a mixture of his own ideas and those of the entire ‘NEO developer’ community. One of the main goals when it comes to the changes in the economic model has to do with making it less expensive for developers to launch their smart contracts and run their decentralized applications on the NEO Blockchain. For some developers, the cost of 500 GAS is simply too high. NEO 3.0 will address this, but this is, of course, being discussed within the community.
The host mentioned that when visiting the NEO offices, she was surprised that there were not so many developers present. Erik went on to explain that NEO is not, and can’t be run like a normal company, as developers are contributing to the NEO Ecosystem from across the globe. This is a big difference in comparison to many other projects. NEO’s goal is to help kickstart and fund various developer hubs around the world. They can create their own governance guidelines, work on their own propositions which can eventually find their way into the core ‘code’ of the NEO ecosystem.
Erik was also asked by the Chinese host why NEO valued the ‘overseas’ community more than the local Chinese community. He had to admit that it is actually the other way around. It is the community outside of China which is valuing NEO more, as they actually pay more attention to the blockchain technology itself.
Compared with Ethereum, NEO’s co-founder explained that NEO and Ethereum are quite different. With this in mind, he admitted he doesn’t really like for NEO to be called the Chinese Ethereum. NEO’s vision is to serve the Smart Economy first.
With respect to EOS, he was confident that NEO has a first-mover advantage as EOS only recently released their Mainnet. He also said that NEO’s smart contracts, developing tools and developer ecosystem are more mature.
On this topic, Erik Zhang laid out NEO’s vision to become the preferred platform for developers by 2020. It will do this by continuing to focus on lowering the barriers to entry. On the one hand, this is done by lowering the price of launching contracts on the NEO Blockchain, and on the other hand, by supporting many programming languages. This allows developers to express their ideas in languages they already know. He also mentioned that NEO Global Capital can play an important role as a project incubator, attracting great teams and project ideas to the NEO Blockchain ecosystem.
Erik Zhang finished up by reiterating that while he thinks the blockchain industry still is in its very early stages, he sees NEO by 2020 as the preferred public blockchain ecosystem! NEO 3.0 will be more stable, have faster TPS, provide better user experience and be cheaper for developers!
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