04 October 2018

NGD Progress Report For The Month Of September And Excerpts From Chico Crypto Interview Of NEO Chairman

The progress report for the month of September for NEO Global Development (NGD) has been released and highlights of this report can be found in this article. Now what you can expect from these highlights include; updates of the newly launched NEO-CLI v2.9.0, the NEO Vulnerability Bounty Program, the NEO Creative Design Competition and upcoming events. There is also some key excerpts taken from an interview of Malcolm (NEO Chairman) by Tyler of Chico Crypto a blockchain and cryptocurrency YouTube channel. However, this article starts with a roundup of the progress report of NGD for the month of September.

NGD Newly Launched NEO-CLI v2.9.0

In September, NGD launched NEO-CLI v2.9.0 which utilises an Akka framework. With the Akka framework, the constraints of conventional programming (i.e. object-based) will be resolved with the Actor model. The framework also resolves the issues encountered by a distributed structure that is very concurrent in nature.

Furthermore, there are several extra plugins which help to boost the security, integrity and dynamism of the available NEO nodes. The NEO-CLI v2.9.0 can be started by users who can also select extra models without the need for imputting complex commands. By so doing, manual-based errors are minimised while wallet opening and the application logs functions are easier to accomplish thereby making the deployment of nodes much more easier. Additionally, the application logs are saved in levelDB format which consequently has reduced the amount of applications logs and the “out of inodes” problem encountered on Linux has been resolved as a result.

Update On NEO Vulnerability Bounty Program And The NEO Creative Design Competition

In a bid to improve the level of security in NEO, the NEO Vulnerability Bounty Program commenced in the month of September to encourage both individual developers and developer teams to spot out genuine vulnerabilities in NEO and submit documented information on the identified vulnerabilities to NEO in order for the issue to be fixed. The program rewards participants for their efforts at identifying security issues in NEO and the amount of reward given to teams or individuals is dependent on several factors one of which is the level of threat the security vulnerability carries.  

September was also the month that witnessed the launch of the NEO Creative Design Competition (which commenced of the 12th of September) by NGD. Members of the NEO community are incentivised to come up with innovative designs for NEO Smart Economy based icons and websites. There is a prize pool comprising of $30,000 USD and the deadline for the submission of entries is the 14th of October, 2018.

Future Events

  • A Hackathon Tour will be held by NGD in Europe from between the 20th of October to the 4th of November (i.e. for 3 consecutive weekends). The Hackathon tour will take place in Germany, Netherlands and Switzerland. NGD will reward participants with prizes as little as 1,500 GAS and as much as 4,050 GAS.
  • The 5th session of the NEO Blockchain Open Course will commence on the 20th of October.
  • The NEO Hackathon Tour in Delft and Rotterdam will take place between the 20th and 21st of October.
  • On the 26th of October the NEO Berlin Meetup will be held.

Other Updates

  • The CGAS and CNEO smart contracts have been upgraded and also deployed.
  • The neo-auto-test was added by NGD.
  • September also witnessed the vote of the Swisscom consensus node into the TestNet.

Excerpts From Chico Crypto Interview

The Chairman of NEO, Malcolm was recently interviewed by Tyler Swope of Chico Crypto a popular blockchain and cryptocurrency YouTube channel. In the extensive interview, Malcolm answered several questions such as the current demand of the NEO blockchain in China, how virtual games can capitalise on NEO blockchain technology and also the future of digital currency in a cashless society.

Here are excerpts from the interview, note that the content provided is not a verbatim account.

Q1: Is NEO still popular in China?

A1: According to Malcolm, NEO is gaining significant ground in Mainland China. For starters, there are quite a large number of developers in China building decentralised applications (dApps) using NEO blockchain technology. Furthermore, the trading in NEO cryptocurrency is fast growing in China and the popularity of NEO blockchain in China can also be seen in their mass participation in NEO organised competitions this year.

Q2: How does NEO blockchain enable virtual games to thrive?

A2: Malcolm stated that while some virtual games like Nacho Man run completely on blockchain technology, other virtual games only pick specific elements of the NEO blockchain and are therefore only partially run on blockchain.

Q3: In comparison with Ethereum, what are the benefits of using NEO blockchain?

A3: Malcolm stated that the vision of NEO blockchain is more dynamic than Ethereum’s which can be seen in some of the NEO projects such as NEOX Protocol that enables the development of other independent side-chains. In comparison to Ethereum and indeed other blockchains, transactions on NEO is faster. Malcolm further stated that the NEO blockchain is of great advantage to users wishing to conduct both regular and dependent transactions. NEO blockchain is also useful to developers that intend developing complex applications.

Q4: What is the future of digital currency over fiat in a cashless society?

A4: According to Malcolm, fiat or cash would still be relevant in this day and age as long as there are still a good number of people that are not open to using digital currency because of its perceived high cost. Malcolm also stated that digital currency is gaining popularity in many countries and it is expected that in the not too distant future, the world would be open to a global digital economy.

For more details of interview, you can click on this link to watch the YouTube video.

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