CRYPTO MINERS X NEO
Venue : @Crypto_miners_Community
Date : 16th September, 2021
Time : 1PM UTC
Guest : Mr. John Wang (Director of Ecosystem Growth)
Mr. John shared with us a well detailed insight into the Project and Unique features of Neo…
SEGMENT 1️⃣ — INTRODUCTION
Hello & welcome everyone to today's AMA session NEO.
Let's welcome our special guest JOHN WANG (The Director of ecosystem growth) to this wonderful section.
Hi everyone, glad to be in your community tonight
Good day all and @johnwang303 it is an honour to have you here with us today..
looking forward to sharing a bit about Neo
Before getting into the introductory session,Can you please introduce little bit about yourself to the Community and about your roles behind the project?
We are an established project, but definitely have some news to share
I'm the head of Neo Ecosystem Growth. I have many years of experience in supply chain management consulting, and several successful entrepreneurial experiences. I’m currently responsible for Neo ecosystem development.
What is exactly the "Smart Economy" developed under the NEO Blockchain?
First founded in 2014, Neo is an open-source community driven blockchain platform.
It is the most feature-complete blockchain platform for building decentralized applications.
Neo enables developers to digitize and automate the management of assets through smart contracts. It also provides powerful native infrastructures such as decentralized storage, oracles, and domain name service, creating a solid foundation for the Next-Gen Internet.
That's the smart economy 😊
So users can digitalise any physical product under NEO isn't it
Well we as an industry are still a bit far away from digitizing any physical products, put you definitely can link the rights to a product to blockchain.
Recently NEO had launched its version N3.What factors led to creation of N3 and what are the key development N3 aims?
We needed to fix a couple of tech issued, for example the legacy UTXO system (which by the way is still used in Bitcoin)
Also we added a lot new tech features, I think I'll mention them later answering community questions. Anyway, these feautures were more easily implemented on a new chain.
And also we changed tokenomics slightly. Also I'll mention that later :)
What are the advantages for a developer using NEO Blockchain over the rest of chains?
With N3, there are a lot of new features, including some basic modules like NeoID, which is a decentralized identity solution, and a built-in Oracle.
The oracle enables any smart contract on Neo to have the ability to directly access the traditional Internet. So you can call a URL from a smart contract. In other words, the new protocol has the ability to give you authentic data feed from that URL. It basically connects the next generation Internet, web3.0 to the current Internet, the web2.0. So it’s like a bridge to connect these two worlds.
What about when speak about the program languages
And we also have a new functionality called NeoFS, which is built by the NSPCC team. NeoFS basically is a new version of Neo’s equivalent to IPFS. But you use GAS, the utility token in Neo to pay for storage. And it’s built into the new protocol. So you don’t need to access other protocols. So these are the new features. These features are useful both for users and developers at the same time.
We support a number of languages, such as c# (hi to Microsoft ecosystem developers), Python and Go.
The are other blockchains that offer Rust or Solidity, but if you prefe c#, python or go you are welcome to Neo.
That's a great opportunity for developers to migrate into NEO ecosystem.
When comparing with other which are limited to solidity.
What are the future roadmaps and what are the possible integration team currently working on?
In terms of integrations these are the usual suspects like DeFi and NFTs, but in the broader scope we are the member of US-based Inter-Work Alliance for setting blockchain standards, and also a member of BSN, China-based organization that promotes the growth of the industry.
Wrt the roadmap, the biggest milestone, or the biggest task we need to finish is to do the migration.
Because basically, you can regard Neo Legacy and Neo N3 as two different blockchains. So we are going to migrate from Legacy to N3. It’s basically moving all the assets, smart contracts on a blockchain A to blockchain B.
So that’s a big challenge. And I believe Neo is the first one to do it in the blockchain industry.
I'll tell about the migration later, but maybe you can pin these most important links to the top? There's a link to the migration guide and the page.
Guide to Governance: https://www.youtube.com/watch?v=qEMg9MzziqY
Guide: how to migrate NEO and GAS to Neo N3: https://www.youtube.com/watch?v=_uXsm808oLU&t=47s
One of the new Neo N3 NFT games: https://t.me/tothemoonuniverse
Neo DEX Flamingo Discord: https://discord.gg/W3pQyrZx
NFT platform: https://t.me/ghostmarketio
N3 Collector’s Edition NFT blind boxes and airdrop
SEGMENT 2️⃣ — Twitter Q & A
1)Who are Interwork Alliance and PolyNetwork to you, what kind of relationship or partnership exists here and how can I stay in touch with you guys?
Will NEO holders get the opportunity to vote in council members?
That's a good question. One second.
Interwork Alliance consists of members like Nasdaq and Deloitte and is charges with the task to set crypto/blockchain standards for enterprises.
Poly Network is a cross-chain solution developed by Neo and our partners. It's a bridge to and from Neo and other chains, such as Bitcoin, Polygon and some very interesting integrations are coming.
Yes, Neo holders can vote, and here’s a bit more detail:
We have a new economic model. We have new on-chain governance. For example, within Neo Legacy, you didn’t need to do anything. You were able to earn GAS by simply holding NEO token, which is not the best way to participate in the ecosystem. So the participation rate of governance in Neo Legacy is pretty low. We decided to change it, we decided to give incentives to the voters. So from Neo N3, you have to vote for the “correct” community member. A “correct” member means the one chosen by majority. Only if you vote for the correct community member, you’ll get awarded. And there will be 21 council members. These 21 council members will decide different parameters of the blockchain, of the protocol
Neo is designed under the DBFT protocol so how this protocol gonna bring more industrial adoption.What are its major advantages?
Well DBFT is not a protocol but a consensus mechanism.
The biggest advantages are one block finality and the lack of electricity consuming miners.
Some other blockchain still have the risk of a fork (even though a very low) but it still exists. It means if some miners decide to for a blockchain they can, with unclear consequences for the users.
With one block finality forks are impossible.
I'm not sure if this is relevant to industrial adoption.
If he means the adoption by fintech industry, then the advantages I mentioned above are very helpful.
3)I read that regarding NEO N3 migration there is early bird phase. Can you tell us the advantages of users migrating in this phase? What are the requirements to migrate? Is there a deadline for migration?
Ok here I have bad news and good news.
The bad news is that the best stage of the early bird phase has finished. It used to be 1% bonus for migration.
The good news is that there's still a bonus, and it's still pretty good. It's 0.75%
There are no requirements, you just go to our https://migration.neo.org/ or use the Neon wallet: https://neonwallet.com/
1% bonus: 10:00, September 1st — 9:59, September 15th (UTC)
0.75% bonus: 10:00, September 15th — 9:59, October 1st (UTC)
0.5% bonus: 10:00, October 1st — 10:00, October 31st (UTC)
From ANTSHARES to NEO,what are struggling phases team had pass through in terms of development, Regulatory and competition?
Well the hardest decision we had to make is probably this migration, because not many projects have done that before.
But we really wanted to make a leap in improvement, and it required starting a new chain.
That combined with the new tokenomics requires coordination of many parties.
And one of the biggest challenges among them is the communication with exchanges. Because recently a lot of exchanges are under huge pressure from the governments, it’s challenging to convince them to prioritize our migration procedure. I believe it will take a few months to finish all of these.
Right now N3 is supported by Huobi and Okex, and the other big exchanges are coming.
How NEO and ONCHAIN differ as we discuss from a perspective on vision and what is the business model opted for the NEO and ONCHAIN?
Onchain is the company involved in the development of Neo as part of the community, but they also have some other products.
NEO had a business model of B2C isn't it?
Well a blockchain can't have a business model I would say. It's a protocol that keeps data, allows the execution of smart contracts. It's maintained by nodes. And now we have the Council to make important decisions.
Neo already can be used by users and enterprises, hard to say if it’s b2c or b2b...
SEGMENT 3⃣ — Live Q & A
Neo used Poly Network's bridge mechanism to facilitate the migration from Neo Legacy to Neo N3 and its tokens. We all know that there was a recent exploit of Poly Network's system. How did Neo comply with this issue? Is your migration still on effect after the attack?
Yes there was an exploit, but after our communication with the hacker, the hacker returned the money.
The migration is still on, but via our official website. See the details in this video:
Guide: how to migrate NEO and GAS to Neo N3: https://www.youtube.com/watch?v=_uXsm808oLU&t=47s
NFTs is hot trending now, Do you have a play to have NFTs in your platform? If so, can you tell us yhe plans of your project in NFTs?
Yes, we support NFTs as our Nep-11 standard, and you can mint and trade Neo NFTs on ghostmarket.io
Also you can check out our new game https://t.me/tothemoonuniverse which nicely uses Neo NFTs.
Could you please explain how the platform handles pricing and selling, can the artist decides the list price of their own NFTs.? Is the price of all Neo N3 Neoverse Blind Boxes the same, and do they all come with the same number of Neo NFT tokens, or do they vary?
The price is fixed for all blind boxes.
There are in total 9 types, 3000 pieces per type.
But let me start from the beginning.
To celebrate the launch of the N3 MainNet, NGD is launching Neoverse — an NFT mint and collection event together with all developer communities. Users from all over the world are welcome to participate. The Neoverse N3 Collector’s Edition NFTs are not only invaluable collectibles but also carry various “VIP” privileges within the Neo ecosystem, further activating the growth of the N3 ecosystem.
How to Participate?
N3 Element NFTs: 9 pieces, 3,000 of each — 27,000 in total.
How to obtain : open any blind box to obtain a random piece
9,000 blind boxes to be airdropped via events hosted by Neo, Neo ecosystem projects, and Neo partners starting from 2nd September.
18,000 blind boxes are available for purchase via the official Neoverse website starting from mid-September.
Market trading of NFTs will be available at Ghostmarket from mid-September.
Here's an example of the NFT:
As you celebrate the launch of your #N3MainNet, you introduced #Neoverse - an NFT mint and collection event. So can you talk more about this event and give us some information on how users from all over the world can participate here?
I've put the most important rules above, and more details are by the link:
I see that Neo is completing its election for the 21 community member council for ecosystem. What criteria and characteristics of a council member are you looking for and it is possible to apply for this spot?
It costs 1000 gas to apply, and they you'll have to attract the required amount of Neo to be in top 21. You can see the current amount of votes here:
— AMA CONCLUDED —
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