Neo Global Development (NGD) the organization that manages leading community-driven blockchain platform Neo, has announced the launch Neo3 Preview 2 to empower the development infrastructure around its testnet version of its new blockchain.
NGD made the announcement in blog post published on its official website on Tuesday, April 21. According to the announcement, Preview 2 of Neo3 or Neo 3.0 testnet has brought with it range of performance optimizations and new features for smart contracts.
The new build will provide community developments group an opportunity to migrate existing tools and infrastructure to the new blockchain.
Neo is an open-source blockchain platform driven by community that aims to automate the management of assets using smart contracts. Neo’s mission is to create a “Smart Economy” by building infrastructures of the next generation Internet and creating a solid foundation for mass blockchain adoption.
The Neo mainnet was launched in 2016. In order to accelerate enterprise-grade blockchain innovations for the future, Neo is migrating to the next version of its blockchain, NEO 3.0, for which, as Wealth Growth Insights reported, Neo received $100 million in May 2019.
According to Neo, “NEO3 will empower developers by completely revamp NEO2 to deliver a scalable platform with higher throughput, enhanced stability and security, an optimized smart contract system, and a feature-packed infrastructure set.”
Neo announced the testnet launch of Neo 3.0 and Preview 1 on September 16, 2019. Now Preview2 has been launched with new upgrades to Preview 1.
The recent blog post provides summary of new features and tools that Preview 2 has brought with it. These include upgraded NeoVM and Neo Core, more flexible and powerful Neo3 smart contract system, and accelerated Neo3 infrastructure development.
Preview 2 has upgraded NeoVM and Neo Core that offers enhanced instruction performance which is up to 16 times more powerful than prior versions. Transaction Per Second (TPS) speed has been improved by removing LINQ queries, caching of calculation data, and the optimization of Neo’s transaction validation mechanism. A parallel signature verification is also under testing which could further increase TPS up to 8 times from Preview1.
Upgradation to smart contracts include new contract IDs, removing need for data migration during contract update. The upgradation also includes the addition of permission control at manifest and control level. Preparations are also underway for the implementation of light nodes.
NDG is expecting Neo 3.0 mainnet launch in somewhere Q2 of 2020. According to Neo, as more and more developer are migrating their work to Neo 3.0, Preview2 will further empower them to help shape Neo 3.0 and next-generation internet.
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