NEO 3.0

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Note: NEO 3.0 development is still in very early stages. Content is subject to change.

NEO 3.0 is the long term development goal for the NEO blockchain. The idea is will be the start of a new chain with a new genesis block for NEO 3.0. This long term goal is estimated to take around 1-2 years of development and research time.

This does not indicate that the current version of NEO, NEO 2 will no longer receive updates. All backwards compatible updates which are part of NEO 3 will be applied to NEO 2.

Necessity

NEO is based on the code of Antshares. This original coddebase contains a large number of deprecated features. Some updates proposed by community developers cannot be implemented without making fundamental structural adjustments.

Additionally, NEO 3.0 will separate NEO from NeoVM, effectively making it into a more modular system.

Features

Note: Some of the NEO 3.0 updates will be implemented in NEO 2 but are considered part of the NEO 3.0 end-product.

  1. There will be a change in the economic model to offer a better service for enterprises and large scaled companies use cases.
  2. Increase the Transactions per second by refactoring the code and core modules, optimizing the network protocol implement the feature manifest and permission system for NeoContract, and prepare for dynamic sharding.
  3. Redesign the intruction set of NeoVM.
  4. NEO Voting system.

Migration

In the case NEO 3 introduces a new blockchain and genesis block, there may be a period of data migration from the NEO 2 blockchain to the NEO 3 blockchain. Generally, end-users are not expected to undertake any type of action.

Developers who have deployed a smart contract to the NEO 2 network may be guided by the NEO Foundation to to migrate it to NEO 3's network at no charge.

You can follow the current progress of NEO 3.0 via Github