NEO Smart Economy NeoN3 Upgrade and Blockchain Recognition in All Walks of Life

NEO Smart Economy recently tweeted about the TestNet upgrade of the first release version of NeoN3 – Neo N3 RC1 on 25th March 2021. The decentralized object storage system NeoFS will thus be integrated into Oracle in this version.

The first release version of Neo N3 (Neo N3 RC1) was released on 16th March 2021. This was the most significant upgrade in this version is the process of integration of NeoFS system into the Oracle module. Further, several improvements and fixes were also applied in this version for State Root service, Policy native contract, opcodes and more.

With the Neo N3 RC1 TestNet upgrade happening on 25th March 2021, a temporary instability during the period was anticipated.

There is a comprehensive list of improvements coming with this optimization.  They are NeoFS API Completion & Integration into Oracle, State Root Improvements, New Opcodes, and other improvements and optimizations.

The concept of side-chains has been introduced to permit plugins to load with multiple NeoSystems.  Also, new interfaces have been added on native contracts to record the update history.  Some of the system call fees has been adjusted to match the resource requirement calculations.  There are separated CpuFee and StorageFee for clearer and more rational fee calculations.

Previously Da Hongfei pointed to how they finalized a clear and detailed roadmap of N3 migration and official main-net launch. He stated that N3 testnet will go live this month. He also requested the community to keep up with Neo’s most recent update in a way to get ready to play around on N3 testnet.

Early on NEO expressed their happiness and excitement about institutional adoption of digital assets which has been made more accessible with FiCAS ETP on the Swiss SIX Exchange. They also expressed their happiness about the interest and recognition of NEO development from the institutional research team.

Blockchain is mentioned in newly released outline of the 14th Five-Year Plan, a document charting the country’s development course for the next five years.

Also, Blockchain is mentioned in a newly released outline of the 14th Five-Year Plan of China, a document that charts the country’s development course for the next five years.

High-end chips, operating systems, key artificial intelligence algorithms and sensors are highlighted in the document as among key technological areas to be sharpened, also it has been stated that research and development of basic theories, basic algorithms and equipment materials should be advanced.

This is indicative of the increasing prominence of blockchain in driving economic growth and empowering all walks of life.