NEO Developers Implement New Privacy Solutions

NEO Developers Implement New Privacy Solutions

NEO, an open-source, community driven platform, has released its new global monthly report, which showed that developers have been discussing the Neo3 governance model and how to improve it.

According to the report, the developers also held meetings to discuss how to complete the most important Neo3 components in the second quarter of 2020.

The developers have made great progress on the Neo3 economic model. Thus, the current goal is to improve efficiency and make it better for users to work on the NEO series.

During the meetings, the developers also discussed storage payback mechanism. Although such issues are still being discussed, they can carried out later on.

Incognito launches privacy ridge on NEO

Since privacy is one of the very important things in the crypto market, Incognito Chain has announced completing the privacy bridge that will be used on top of the NEO blockchain.

Accordingly, users can exchange NEO tokens to a protected version that uses Incognito feature.

This way, funds can be privately transferred and swap can be opened again to the NEO blockchain when the transaction is made.

The move aims to give complete privacy to users and allow individuals to have similar levels of anonymity as in the Monero (XMR) network.

The system runs by privately creating pNEO on the Incognito chain backed by NEO funds. Once finished, it is necessary to carry out the transaction on the Incognito chain. Through the reverse process, the pNEO is burnt and the funds will be transferred to the NEO chain.

SmartBNB bridge between Neo, Binance Chain

Safudex has announced the launch of the SmartBNB test-net, a cross-chain bridge between Neo and Binance Chain. For the first time, tokens can be transferred from Binance Chain to Neo and back in a trustless fashion using SmartBNB. New concepts can now be realized using SmartBNB.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.