Connect with us

Neo

Celer Network, NEO announce partnership to improve latter’s scalability and dApp usability

Published

on

Celer Network, a layer-2 scaling platform for building blockchain applications, has announced a partnership with NEO to expand the latter’s scalability and the usability of dApps on the blockchain.

NEO had been looking for a suitable layer-2 scaling solution in order to improve its dApp ecosystem when it came across the Celer Network. As per the announcement, the initial smart contract support is scheduled to be completed by Q4 of 2019.

The integration will occur in two phases. In phase one, NEO’s engineering team will start writing Celer’s generalised state channel smart contract in C# so that it can run on the NEO smart contract VM. The code provided by both teams will then merge into Celer’s Channel smart contract repository by late-2019. The next phase will involve connecting Celer’s layer-2 components to the state channel smart contracts on NEO.

Celer, which uses its native CELR tokens to transfer value across the network, claims to be fifteen times faster than Bitcoin’s layer-2 Lightning Network. Previously in March, Celer managed to sell over $4 million in CELR tokens on Binance’s token launch platform, Binance Launchpad.

With this partnership, Celer hopes to bring various dApps in the NEO ecosystem to run on the Celer Network by early 2020 – including distributed exchanges, payment channels and games.

The NEO blockchain has a large user base and community around the globe, with a deeply rooted and long history in China.

Source:ambcrypto

Click to comment

Neo

Lending Protocol Founders to Launch ‘Neo-Bank’ Offering Interest on USDC

Published

on

The founders of lending protocol Nuo are launching a “neo-bank” to attract more retail users.

Varun Deshpande, Ratnesh Ray and Siddharth Verma – who launched the Nuo protocol in 2018 – are now launching a new digital banking platform called Juno.

Juno will be built on top of ethereum, rely on the Nuo protocol and is expected to launch in either February or March of 2020, Deshpande told CoinDesk.

The startup’s flagship product will allow users to hold the dollar-pegged USDC stablecoin and earn a 5.5 percent annual interest rate. Juno wallets will have no fees and a Venmo-style peer-to-peer payment option, Deshpande added.

“What Juno will be able to add is a very simple user experience which is required for retail adoption,” Deshpande said, adding:

“If there’s anything that can take DeFi [decentralized finance] or crypto mainstream, it would be an interest rate.”

It’s not the first time a DeFi platform has created a savings product, however.

In August, lending startup Dharma announced it would relaunch its services with stablecoin accounts that offer returns based on the Compound lending protocol. Dharma’s site currently advertises an interest rate of 7.7 percent.

Earlier this month, crypto unicorn Coinbase announced that users of the exchange would earn an annual percentage yield of 1.25 percent on USDC holdings.

Juno plans to launch initially in the U.S., Europe, Singapore and Japan. The platform plans to partner with online money transmitters in each of these geographies for on-ramp capabilities, Deshpande said. Partnerships with local banks in each market could one day lead to debit cards and free cross-border payments, he added.

Investor buy-in

Juno is also announcing that it raised $3 million in venture capital in a round jointly led by Polychain Capital and Sequoia Capital’s Surge program.

The round included participation from Dragonfly Capital, ConsenSys Labs, Astarc Ventures, Singapore Angel Network and several angel investors, including Balaji Srinivasan, the ex-chief technology officer of Coinbase and former general partner at Andreessen Horowitz (a16z).

Prior to this round, Nuo received investments of $500,000 from ConsenSys Labs and $250,000 from payments firm PayU.

Deshpande explained that the platform will be able to offer its 5.5 percent yield from the interest it makes from short-term, crypto-collateralized loans – as well as loans for margin trading that it makes through Nuo.

Nuo currently has $25 million in deposits and $20 million in loans disbursed. Deshpande says Juno’s deposits will be insured by a price volatility insurance fund that Nuo is building and smart-contract insurance.

Source: coindesk

Continue Reading

Neo

NEO Attempts to Keep the Upsurge Intact

Published

on

  • NEO price escalates for the second day in the row
  • The uptrend is likely to stay for some time now

The market had suffered very badly in the last quarter, but the ongoing month started with a beam of hope. Well, within the first few days, the traders experienced a heavy fluctuation in the market. The volatility is still intact along with moderate upsurge marked in the price. Since yesterday, there has been a visible rally, which is anticipated to linger and push the coin slowly and steadily.

NEO to USD Price Analysis:

The data feed is taken from Bitfinex as on October 10, 2019, at 03:57:11 UTC for analysis.

NEO Price
NEO Chart By TradingView

Yesterday, NEO started trading at $7.54 when the price immediately slipped to $7.44 by 1.29%. There was an immediate upsurge in the price, which went up to $7.77 by 4.44%. The price slipped to $7.63 by 1.88%. The price again hiked and soared to $7.8 by 3.46%. Later, the fall took it to $7.58 by 3.92%. The final upsurge took it to $7.77 by 2.58%. The intraday price movement indicated escalation by 3.15%. Today, the price hiked in the first few hours, but it is recently indicating a slight fall marking a marginal regression is of 1.14% from $7.78 to $7.6.

NEO has recently experienced a voluptuous increase in the market cap. On October 1, 2019, the market cap was at 531,422,540 USD. Today, the market cap is noted as 543,570,898 USD. There is a substantial increase in the digits which is indicating towards a better future. The traders can dig-in with a high prospect of profit. With this, we would recommend the traders to have a long-term investment with NEO as it could bring maximum results.

Source.cryptonewsz.

Continue Reading

Neo

NEO Attempts to Keep the Upsurge Intact

Published

on

  • NEO price escalates for the second day in the row
  • The uptrend is likely to stay for some time now

The market had suffered very badly in the last quarter, but the ongoing month started with a beam of hope. Well, within the first few days, the traders experienced a heavy fluctuation in the market. The volatility is still intact along with moderate upsurge marked in the price. Since yesterday, there has been a visible rally, which is anticipated to linger and push the coin slowly and steadily.

NEO to USD Price Analysis:

The data feed is taken from Bitfinex as on October 10, 2019, at 03:57:11 UTC for analysis.

NEO Price
NEO Chart By TradingView

Yesterday, NEO started trading at $7.54 when the price immediately slipped to $7.44 by 1.29%. There was an immediate upsurge in the price, which went up to $7.77 by 4.44%. The price slipped to $7.63 by 1.88%. The price again hiked and soared to $7.8 by 3.46%. Later, the fall took it to $7.58 by 3.92%. The final upsurge took it to $7.77 by 2.58%. The intraday price movement indicated escalation by 3.15%. Today, the price hiked in the first few hours, but it is recently indicating a slight fall marking a marginal regression is of 1.14% from $7.78 to $7.6.

NEO has recently experienced a voluptuous increase in the market cap. On October 1, 2019, the market cap was at 531,422,540 USD. Today, the market cap is noted as 543,570,898 USD. There is a substantial increase in the digits which is indicating towards a better future. The traders can dig-in with a high prospect of profit. With this, we would recommend the traders to have a long-term investment with NEO as it could bring maximum results.

Source.cryptonewsz.

Continue Reading