China-based blockchain platform NEO, formerly known as Antshares before a complete rebranding last month, has updated on the brand switch and presented some guidelines for the NEO Network 2.0, which is set to launch next month. NEO announced its development efforts are now divided into two fronts; a locally managed development team in Shanghai, and a community-driven international team.

Rebranding now in full progress

The NEO team confirmed that its social media and source code has been renamed, with exchanges to follow. The company’s new website design is finalized, which will go live on August 8th alongside the NEO 2.0 launch. The NEO team also noted that its power to manage the name switches on exchanges is limited but is in progress.

The following is the upgrade process for NEO network 2.0

1. NEO will first need to upgrade all non-consensus nodes. Exchanges, blockchain explorers, and other services are required to upgrade to NEO 2.0 before August 8th.

2. Regular users can, but are not required to, update to the new client before August 8th.

3. On the day of August 8th, NEO will upgrade all consensus nodes to NEO 2.0.

4. After all consensus nodes are updated, users who have not updated to the new client will be prompted to do so when starting the old Antshares 1.x client.

5. It is the same blockchain, so users can copy the “Chain” folder from the old AntSharesCore into the new NEO 2.0 client folder to speed up the blockchain syncing.

6. If a user has NEO/ANS, NeoGas/ANC in an exchange, then they don’t need to do anything.

7. All users assets are safe and secure during the whole update process.

The NEO team said:

“Along the rebranding to NEO, we are taking the opportunity to update the blockchain network. The Antshares network 1.x has limited smart contract functionality, so we will update it to the NEO network 2.0 with a full smart contract system. The whole update process will be done by August 8th as a celebration of our 1-year ICO anniversary. It will be another busy two weeks for all of us, so we thank you for patience and understanding of our tech focus these coming days.”