Labelled as the “China’s answer to Ethereum”, the NEO platform has unquestionably been one of the hardest hit Altcoins throughout the Bear market. All time highs of almost $200 at the peak of the January 2018 Bull-run are nothing but a distant memory these days. Price fell to a low of $5.50 in December 2018, with even the most optimistic investors’s faith being tested above and beyond all limits.
Better projects have come along, exposing NEO’s original limitations, most notably its seven verification nodes – making it accessible to attacks. The team have been working hard in the background developing NEO3 – aka NEO v3.0, an upgrade to the platform that looks to address and fix the flaws of the system.
The announcement from the team described the update would:
“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.”
What is clear is that, it cannot get much worse for the NEO platform, and that should be a starting point to completely reset and refresh.