Neo recently completed all remaining tasks for the Neo N3 RC2 version. The new build was formally released on May 2, alongside compatible versions of the core plugin modules. The current N3 TestNet is expected to get updated to RC2 on May 18, 2021.

Dahongfei expressed, “Moving forward, I believe flexible governance is key for driving blockchain’s sustainable development by delivering a means for platforms and communities to flexibly and quickly adapt to the digital economy market needs and regulations of various countries.”

Elastic Manageability” is the new governance mechanism on N3.  Thus, enabling on-chain events to be able to adapt to various social jurisdictions. It is believed that this solution will help Neo provide unique value to deliver diversity for blockchain.

NeoN3 is evolutionary in so many ways. There is a lot that Neo N3 is going to deliver for developers, projects, institutions and all blockchain users.

The newly added components are “NeoFS, a robust decentralized file storage system; Oracle, a trusted link between on-chain smart contracts to off-chain data, as well as NeoID, a decentralized identity solution bridging the gap between on-chain asset and physical identity.”

There is a redesigned NeoVM, an updated consensus mechanism — dBFT 2.0 together with the enhanced ledger, communication, and storage systems. Thus providing for improved throughput that is 10 to 100 times that of Neo Legacy’s. Minimized fees and a simplified smart contract construct is expected to bring in more developers and companies.

Neo N3 will leverage Poly Network, which is a groundbreaking interoperability protocol consortium with 9-member blockchains and growing further making it easier than ever for projects and assets to enter the Neo ecosystem, making it both a key hub platform.

Neo has partnered with leading blockchain platforms through Poly Network, already integrated with Bitcoin, Ethereum, Neo, Ontology, Elrond, Zilliqa, Binance Smart Chain, Switcheo and Huobi ECO Chain.

These changes are made in a way empowering the network to win the future. The all-in-one blockchain solution is now powered with governance model, economic model, architectural changes, dBFT 2.0, NeoVM, NEoFS, NeoID, Oracle, and Poly Network Integration.

Also, Neo Frontier Hackathon will be beginning later this month.  Neo Frontier will be an N3 launch pad event for developers who offers prizes and incubation opportunities. More details will be released soon.

Developers are asked to compete not just for prizes, but also for incubation opportunities.