Caterina Zhang, the Marketing and Community Operations Head of NEO has recently expressed the vision concerning its scalability plans. In an exclusive interview with AMBCrypto, Caterina shed light on the recent developments and the future goal of NEO to increase the transaction per second [TPS].
Regarding the scalability plans, Zhang has informed that NEO 3.0 would be the updated version of the platform whose development has just begun. According to her statement, “This NEO platform will provide higher transaction per second [TPS], automized stability and make the NEO platform ready for the real enterprise use cases to be deployed on top it.” This would eventually help the team to get the required preparation for smart economy. However, she has mentioned about the initial difficulties in the technical field linked to its divisibility.
In her words, ““we have altogether 100 million NEO tokens and then we have the GAS combined with the token but is distributed gradually throughout the year. So one GAS can be divided into 100 million parts so we can divide gas into 100 million addresses without any remainder and in future, the GAS distribution will be in a different way.”
Prior to the distribution of GAS to its tokens, it is decided that in the future times, it would be first stored for a considerable span of time. Caterina in the interview commented, “The result is immediate transaction and we are able to have NEO divisible. In this way people can buy NEO with less than 1 unit”.
She has informed that till now the proposal has not received any ratification and evaluation with the community needs to be done. She informed that in the next few months the whitepaper would be released. With the new version, a better stability and higher TPS would be achieved. Presently, it is operating at a level of 100 TPS which makes the platform already stand apart from the rest. Now, the new release aims for 1000,000 TPS by 2020.
According to her views,“As for the storage capacity we are also researching on the NEO FS, NEO’s decentralized file storage. We have NeoX protocol in our roadmap which will allow the cross chain interoperability.”
Caterina mentioned about altering financial mechanism as a measure to prevent spam transactions. She has stated,“when exchanges are facing congestion of the transactions they can implement certain GAS fees in order to priortize certain transactions. The network is operating well despite the spam and we are continuing to improve the platform and development will not be stopped by such a spam attack.”
She has rightfully presented the vision to establish a firm linkage between the economy existing in the real world scenario and the virtual world having decentralised nature.
Image via Google
Join our Telegram group