Neo, a blockchain platform facilitating the development of decentralized applications, has joined Microsoft’s .NET foundation as the first ever blockchain member.
Neo revealed that it joined the open source foundation during the .NET Conference 2019.
Neo further explained the objective of becoming the member of .NET Foundation.
“Based on their shared open-source heritage, NEO and the .NET Foundation will further empower millions of developers to build the foundation for next-gen Internet. This partnership comes after NEO’s release of Blockchain Toolkit for .NET and NEO Express in September.”
According to the announcement, Neo shared a glimpse of its Blockchain Toolkit during the event. That included several apps such as Neo Express, Smart contract debugger, Visual DevTracker and others.
Neo, the 23rd biggest cryptocurrency by market capitalization, will undergo a crucial upgrade to version Neo 3.0 in the second-quarter of 2020. The overhauled version is anticipated to be introduced as a new blockchain platform and users have to compulsorily exchange their prevailing tokens for new ones.
Erik Zhang, Neo co-founder and core developer, explained that the software update is a must because the incorporation of several architectural updates to enhance Neo’s efficiency are not compatible with existing blockchain.
The current version of the Neo blockchain is only receiving updates to fix bugs and offers simple features. In case of Neo 3.0, there will be a plenty of improvements that offer advanced features.
Those enhancements will results in cost effective transactions, smart contract deployment and a quicker blockchain energized by a consolidated transaction model.
