On May 14th at Consensus 2019 in New York, head of NGD Seattle John deVadoss and NGD blockchain engineer Longfei Wang gave a presentation on NEO dApp development and previewed new developers tools; the NEO Toolkit for Visual Studio and the NEO Express Node.
The presentation aimed to provide a holistic introduction to the NEO ecosystem, including an explanation of the platform’s design and unique attributes such as support for contracts in multiple languages, and the absolute finality of NEO’s dBFT consensus mechanism.
Building on NEO
Following the introduction of NEO, Longfei Wang outlined the steps for building on NEO, such as setting up a private network for development, using NEO clients, implementing smart contracts, and then interacting with them.
For this, Longfei provided an overview of existing NEO developer tools and demonstrated a preview version of the new NEO Toolkit for Visual Studio. The video demo may be found below or at this link.
Longfei also noted the various compilers available on NEO, including online, browser-based solutions such as NeoCompiler Eco and NEORAY. These one-stop solutions aim to remove environment preparation from the development process, allowing developers to focus on building and debugging their applications.
During the presentation, Longfei fielded questions from curious developers that showed interest in the development process on NEO.
NEO Toolkit for Visual Studio and NEO Express Node
John deVadoss spoke further on the NEO Toolkit following Longfei’s demo and introduced the NEO Express Node by NGD Seattle. These tools aim to simplify the dApp development process, providing what deVadoss refers to as the “F5 experience” and line up with NEO’s goal of being the most developer-friendly platform.
The NEO Toolkit is compatible with both Visual Studio and Visual Studio Code, and can be used to write, compile, and debug NEO smart contracts from within Visual Studio, a conventional and widely adopted IDE.
The NEO Express Node aims to make it easy to create, launch, and manage a multi-node private NEO network in a simple manner. The network may be configured as desired, and aims to enable “complete end-to-end prototyping scenarios.” Following a recent contribution to the NEO GitHub, NEO Express will also allow single-node blockchains to be deployed.
To accompany the preview of the NEO Toolkit and Express Node, deVadoss provided a demonstration of the Express Node and Toolkit by creating a single-node private NEO network, opening a demo wallet, claiming GAS, and showing the deployment of a simple NEO contract.
The demo may be viewed below or at this link, and shows all of these steps being completed within a couple of minutes.
To demonstrate that the contract had been deployed successfully, it was then invoked to show the private blockchain behaving as expected. deVadoss emphasized that simplicity and symmetry (across different NEO environments such as private networks, TestNet and MainNet) are key design goals of the projects and important for onboarding new developers.
Interacting with the NEO Blockchain
Longfei followed by commenting on how dApps may then interact with the NEO blockchain via two different means; the dAPI standard and via SDK.
The dAPI standard was also introduced, which can also be used to interact with NEO without requiring dApp developers to build their own wallet interfaces. Longfei introduced O3, Teemo, and NeoLine, which share common API methods that can be used by developers to communicate with the wallets.
NEO and Ontology enter partnership to work on next-gen internet
China’s leading public blockchain projects, NEO and Ontology, will be working together on establishing the foundation for next-gen internet. In a press release shared with CryptoSlate, the companies said that the partnership will focus on building an open cross-chain platform.
China’s blockchain giants come together
Blockchain development had just gotten turbocharged in China, where two of the country’s leading public blockchain projects announced they have entered a partnership. NEO, dubbed the Chinese Ethereum, and Ontology, a product of NEO’s parent company, OnChain, will be working together on establishing the foundation for next-gen internet.
According to a press release shared with CryptoSlate, the companies plan on leveraging both parties’ strengths to create an efficient and inclusive interoperability protocol. Da Hongfei, the founder of NEO and founder and CEO of OnChain, said that the company looked forward to working with Ontology to deliver real-life solutions and uses for blockchain.
Li Jun, the founder of Ontology, echoed his statement, adding that the partnership will not only benefit both companies’ technology and community, it will also accelerate the development of blockchain in general.
NEO and Ontology changing strategies to deepen cooperation
The companies’ interoperability protocol is said to be “groundbreaking” and will include features like enhanced security and low barrier of entry. The protocol will also focus on cross-chain smart contract interactions to expand the scope of dApps hosted on the network. However, the protocol will not issue tokens and will not include a dedicated smart contract system to ensure an eco-friendly approach to member chains.
To fully deploy the capabilities of their interoperability protocols, both NEO and Ontology will have to introduce changes to their strategic focuses, the companies’ said in the joint press release. NEO will shift its focus solely on developing protocols and components that support a full spectrum of digital assets. Parallel to that, Ontology will continue its work on building a future-proofed, decentralized identity framework.
This is not the first time the two companies have worked together. The NEO Foundation and Ontology Foundation have joined forces back in 2018 to improve the development of API standardization, a sharing ecosystem of smart contracts, building open standards for smart contracts, and cross-chain technology innovation.
NEO | NEO
UPDATED: JUL 18 AT 1:45 AM PDT$11.4510.85%
NEO, currently ranked #17 by market cap, is up 10.85% over the past 24 hours. NEO has a market cap of $807.38M with a 24 hour volume of $493.31M.
NEO technical analysis: Set up favors bears, a test of 12.50 support on the cards
- NEO is one of the weakest across the crypto space on Sunday, down 8% over 24 hours.
- Technical setup turns in favor of bears, as charts across different time frames display bearish patterns
NEO (NEO/USD), emerges one of the biggest losers among the top 20 digital currencies traded, losing 8+ percent over the last 24 hours. The bulls failed to benefit from the recent strategic step adopted by NEO of investing in Travala.com. Markets opined that the strategic step could boost the current market performance of the coin and accelerate it towards reaching $20 faster.
NEO/USD 15-minutes chart
- Sellers in complete control, a break below 13.44 horizontal support will confirm inverted cup and handle formation.
- Downside targets are aligned at 13.00 and 12.50 levels.
- Bulls could test the offers 13.64 (10-DMA) and 13.76 (2-DMA).
NEO/USD daily chart
- A potential rounding top formation is spotted on the daily sticks.
- The pattern will get confirmed once the prices close below the 13.25 figure.
- A breach of the last could accentuate the downside, leading to a test of 12.63 (pattern target) over the next month.
Levels to watch
|Today last price||13.558|
|Today Daily Change||-0.50800|
|Today Daily Change %||-3.61|
|Today daily open||14.066|
|Previous Daily High||15.33|
|Previous Daily Low||13.2|
|Previous Weekly High||17.993|
|Previous Weekly Low||14.2|
|Previous Monthly High||20.849|
|Previous Monthly Low||11|
|Daily Fibonacci 38.2%||14.01366|
|Daily Fibonacci 61.8%||14.51634|
|Daily Pivot Point S1||13.06733|
|Daily Pivot Point S2||12.06867|
|Daily Pivot Point S3||10.93733|
|Daily Pivot Point R1||15.19733|
|Daily Pivot Point R2||16.32867|
|Daily Pivot Point R3||17.32733|
NEO Price Prediction: Long-term (NEO) Value Forecast – July 13
NEO/USD Long-term Trend: Bearish
Supply zone: $15.00, $20.00, $25.00
Demand zone: $2.00, $1.00, $0.50
NEO is in a bearish trend in its long-term outlook. The tweezer top formed at $17.99 in the supply area on 9th July at the 23.6 fibs implies upward price rejection and subsequently the bears’ return. NEOUSD plunges to $15.40 in the demand area breaking the 10-EMA.
The resistance at the 50-EMA was broken due to increased bears pressure as price drops further down to $13.20 in the demand area today 13th July as the trading week draws to a close.
The demand area is the 61.8 fibs a trend reversal zone. Exhaustion of the bearish momentum was not obvious hence reversal at the fib area may occur hence a deeper retracement to 78.6 or 88.6 in the new trading week may occur as the pressure on the coin becomes much stronger in the long-term.
The signal of the stochastic oscillator points down at 15% in the oversold region suggesting a downward momentum in price of the cryptocurrency.