Major cryptocurrency projects such as Ethereum, XRP and EOS, over the past few weeks took the last place, but NEO is also a lot that deserves a closer look.
NEO Global Development (NGD) has just released its monthly report, which highlights new developments and updates to the platform. The most interesting of these is the addition of two new tokens CNEO and CGAS to its block chain. C means the contract, which implies that tokens will be used specifically for smart contracts.
Both of the new token bound to the cost of NEO and GAS, respectively, and can be exchanged for them at market rates. Ecosystem NEO is often referred to as “Chinese Ethereum”, as it is also a platform dApp, and not a mere currency or a valuable stock. According to a blog post, an increasing number of dApps on the platform led to the need for a more diverse set of asset types.
“In response to requests made by the community, the NGD has developed CNEO and CGAS, two contract asset, which respectively compare NEO and GAS, two global assets equivalent equivalent equivalent NEP-5”.
The existing two tokens, NEO and GAS can’t be easily used with smart contracts, so there was a requirement to convert them to equivalents of NEP-5. Often custom tokens can’t recognize a recognition in the broader community of crypto or can’t get on the exchange, so the team tied them to existing digital assets;
“Whenever a project gives out a token NEP-5 of this contract, the community may not recognize the token or exchanges do not want to list it for distribution. Thus, for a project this expensive. Then the community encouraged the group to release the NGD assets NEP-5 linked to NEO / GAS “.
Two new token complement to the platform, not the update because the block chain has not been changed. The update to the platform appeared in the first issue of NEO and NEO-CLI 2.9.0. in September. There are a number of additional functions aimed at improving security, stability and flexibility of NEO nodes. NEO 3.0 is still under development, but it is expected that he will make many changes in what has been described as a “completely new version”.
NGD has been busy organizing more events and attract more employees for its ever expanding operations. The current NEO itself over the past week was 8% and currently trading at 18,70 US dollar, while GAS was closer to 16% over the same period and traded at 5.90 dollar at the time of writing.