20 September 2018

Recap Of Interview With Da Hongfei At NEO Singapore Meetup

The NEO Singapore Meetup which was organised by the NEO Singapore Community on the 19th of September, 2018 (Tuesday) at the RELC International Hotel Auditorium between 6:30 pm and 7:00 pm has since ended and NEO expressed their appreciation to attendees for showing a real desire and commitment to attend the event despite the torrential rainfall.

NEO Singapore Meetup-Neo for Beginners

NEO Singapore Meetup-Neo for Beginners

The CEO of NEO, Da Hongfei was interviewed at the NEO Singapore Meetup where he responded to questions asked by an interviewer on NEO’s next development plan. This article provides a summary of the interview.

Q1: What is NEO’S next development plan?

A1: According to Da Hongfei, NEO is focused on achieving the following;

  • The development of a Yellow Paper specification.
  • Provision of user friendly features that will be implemented in NEO 3.0.
  • Assisting blockchain-based games to thrive on NEO blockchain.

Q2: What are the challenges the NEO is facing in terms of protocol?

A2: Da Hongfei stated that there are several challenges that NEO would have to overcome, one of such challenges according to him is the “proper breaking of compatibility with the current NEO network”. He further stated that the “proper breaking of compatibility with the current NEO network” can be achieved by either a hard fork or a new genesis block. However, Da Hongfei said that the choice of which method to use is still being discussed by the NEO core team and the NEO community including the NEO Singapore Community.

Q3: What is hard fork and when will it be implemented?

A3: Da Hongfei said that hard fork will be implemented in about one year from now and it won’t disrupt the present NEO development, so smart contract developers can still deploy their smart contracts on the present NEO network and NEO will help them to seamlessly migrate to a new NEO current network if need be.

Q4: Why is hard fork necessary?

A4: According to Da Hongfei, hard fork is necessary to refactor other code base and to alter the instruction in the virtual machine, thereby making it much more efficient. However, Da Hongfei reiterated that this is still under discussion.

Q5: What is NEO’s plan towards decentralisation?

A5: According to Da Hongfei, NEO in comparison to existing traditional centralised service networks is much more decentralised. However, if NEO is compared to either Bitcoin or Ethereum blockchain, then it would be right to say that NEO is more centralised than the aforementioned blockchains, but despite this NEO is still faster than existing decentralised networks.

In closing, you can watch the full interview of NEO’s CEO, Da Hongfei at the NEO Singapore Meetup right here.

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