Altcoin News: NEO Becomes First Blockchain Member of the Microsoft .NET Foundation

September 27, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

China’s largest blockchain project has in the past often faced allegations of centralization and unstable infrastructure. But NEO is still ambitious to expand its presence worldwide and improve its network.

Now NEO has succeeded in taking an important step towards commercial benefits. A few days ago, NEO announced that it has now become the first official blockchain-oriented member of the Microsoft’s .NET.

NEO is probably the most promising open-source blockchain project from China. The company announced in a press release that it had joined the .NET Foundation during the NET2019 conference in early September. The project’s goal is to provide developers with the fundamentals of the next generation of the Internet and to help with its implementation.

At the beginning of 2019, NEO announced that it is planning a major update for the year 2020 and wants to get back into the ring with NEO 3.0. With the major update, NEO wants to increase the speed and stability of its network to be attractive enough for commercial use cases. The move towards NEO 3.0 continues according to the established schedule, according to the company. Most recently there was an update of the Mainnet in May 2019 to lay the foundation for the big update in 2020.

John Galloway, CEO of the .NET Foundation, commented on the membership of the project from China as follows:

“The .NET Foundation is very excited to welcome NEO as the very first blockchain platform to join our community. NEO is a pioneer in adopting the .NET platform, and we support them in building an innovative decentralized platform and developer community.”

NEO was one of the hottest projects in 2017 and 2018. It was often seen as the “Chinese Ethereum” and many ICO projects made their way directly through NEO. Nevertheless, the project could no longer hold its own in the bear market in 2018 and lost not only interest but also strong value. It, therefore, remains to be seen for the time being whether the open-source project can build on the success of previous years and that the communicated goals can be achieved in time.

Author: Marko Vidrih