NEO London Weekly Roundup #5

Lewis Harland
Sep 3, 2018 · 4 min read

Hey NEO London community, let’s dive into this week’s highlights with the fifth weekly roundup of the series!

NEO Global Development August Monthly Report

NEO Global Development (NGD) has released its monthly report for August. The report format has been modified to be more modular and we’ve picked out some of the highlights below:

Community

NGD has also opened the #suggestion channel on the NEO Discord and a suggestion mailbox (suggestion@neo.org) for any community recommendations or feedback. Each month, selected suggestions will be addressed in the monthly report in an effort to improve communication.

Hongfei Visits

NGD also noted that NEO founder, Da Hongfei, and NGD general manager, Johnson Zhao, visited Japan, where they met with several politicians and industry leaders.

Amongst these was Japan’s state minister for financial services, who praised the dBFT consensus mechanism. The Ministry of Finance of Japan has also indicated an interest in exploring future cooperation with NEO. More information and other meetings with Japanese officials are documented in the full report.

Solutions to “malicious” attack

The NEO network was faced with “malicious” spam attacks in August and was flooded with meaningless transactions. NGD and the global development community worked diligently to minimise the effect of the network attacks, and to ensure that existing safeguards functioned correctly. We have prepared two further solutions in response to the “malicious” attacks which are still under discussion:

  1. Raise the minimum transaction fee to 0.001 GAS. NGD will need to negotiate with exchange wallets and other ecosystem infrastructures before setting higher transaction fees.
  2. Implementation of 3.0 which avoids repeated validation of transactions in the memory pool. If successful, NGD will merge them into the ‘master branch’ and release NEO-CLI v2.9.

Da Hongfei interview with Honeycomb Finance

Da Hongfei interviewed with Honeycomb Finance to address a few questions that arose over the past few weeks. Some of the issue address the relationship between NEO and Ontology:

Issues on ensuring NEO focuses on development in the competitive landscape for platforms were also addressed:

Da Hongfei: We realize that NEO’s development process will start by us outlining the technical model, then we will base on that prepare a “Yellowpaper”, which will lay out the technical specifications. It will describe NEO’s protocol logic in natural and understandable language, then realize it by developing the computer languages, which are the codes. This is a very technical but pragmatic approach to move forward with large-scale developments.

Many projects out there have Whitepapers, but the ones with Yellowpapers are rare. So, for NEO, developing and releasing our Yellowpaper is our current priority until the end of the year.

Read the full report here.

NEX announces token sale launch after approval of “first regulated exchange security token in Europe”

Neon Exchange (NEX), a decentralized cryptocurrency exchange, has announced the times and dates of its token sale beginning September 3rd.

Contributions in round one will be capped to an equivalent of USD $1,000 per person and each NEX token will be worth $1 USD. Participants can contribute with either NEO or GAS and there is no minimum contribution amount.

The announcement of NEX’s token sale follows its final approval from the Financial Market Authority (FMA) in the principality of Liechtenstein. The team stated this final approval was needed before the sale could commence as NEX tokens are classified as securities, thus making “NEX the first regulated exchange security token in Europe and one of the first and few regulated securities in the world,” according to a separate statement.

Read the full story here.


Thank you for reading and we hope to see you in the next NEO London Weekly Roundup!

To get involved in NEO London, see these links:
NEO London Telegram: https://t.me/NEO_London
NEO London meetups: https://www.meetup.com/NEO-London
NEO website: https://neo.org
NEO News Today: https://neonewstoday.com

NEO London

The London NEO community

Lewis Harland

Written by

Analyst at ID Theory

NEO London

The London NEO community

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