NEO Smart Economy Recreating the way People Collaborate with Each Other Using Blockchain TechnologyMay 23, 2020
NEO has been discussing on making smart contracts secure. NEO has been trying to establish that the code is the only thing trustable, keeping in mind that hackers are everywhere.
NEO Smart Economy tweeted: “As a smart contract developer, it is critical to know that your code is the only thing you can trust. Here are some tips shared by our NeoColumn author JInghui Liao on how to make your smart contracts secure.”
Some of the users who have hacking tendencies are going to look for vulnerabilities in the smart contract. If there are options, they are going to exploit it. Therefore, anything based on the blockchain should be reliable only on the reliability and robustness of the code.
Sydney Ifergan, the crypto expert, tweeted: “NEO Smart Economy is working to ensure a stable coin to help investors survive volatility. Good about it.”
NEO Smart Economy Da Hongfei
Da Hongfei, Founder of NEO, spoke about the “Next Generation Internet for Digital Economy” in the past during BlockShow Asia.
First, I kept Bitcoin, between 2011 and 2016, then Bitcoin and Altcoin. And, then from 2016 to today, it is all about blockchain. I think the next phase is the next generation internet. So, it is becoming more clear that the blockchain is just one of the technologies.
Da Hongfei was asked about what he thinks is missing to build the internet in the right way.
He replied, “There are two major problems with today’s internet. I summarize it as horizontal isolation and vertical friction. Horizontal isolation refers to different internet giants; they have isolated systems. Their systems do not talk to each other. It is not interoperable. And, it creates a monopoly. It creates centralization, abuse of user data as a single point of failure. That is one issue.”
And, the second issue is vertical friction. We are still living in a world where the digital world and the biological world are separated. We don’t have commonly accepted standards to digitize things, physical things. We don’t have the technology to link the digital and the biological world.
When asked if he was trying to recreate the universe, Hongfei stated, it is not the universe, but we are recreating the way that people collaborate together.
NEO is a protocol for digital assets is looking for infrastructure stuff. He stated two kinds of application are crucial to the NEO ecosystem. The stable coin and the decentralized exchange. For now, we are working with one or two decentralized exchanges. We are looking for a team to do a well-adopted mainstream stable coin for the CEO.