Landscape in NEO No.1 – W12 / 2021

NEO is one of the largest community-based platforms with the longest history (since June 2014). In the time when NEO 3.0 is about to launch the community, and platforms are competing to develop the DeFi ecosystem, it is certain that the NEO ecosystem will be one of the very remarkable investment opportunities for the brothers.

So from now on, every week, I will send you the latest updates of the NEO ecosystem through Series Landscape in NEO to help you catch up and research the platform easier, thereby earning opportunities. good investment association for themselves.

Particularly for the first episode of the Series, I will update the project situation from the beginning of 2021 until now. Now let’s take a look at the latest updates on the NEO platform!

First you can read more basic information about NEO here.

NEO 3.0 released the first Testnet

One of the news that is most awaited by the NEO community is the launch of NEO 3.0. On March 16, the first testnet of NEO 3.0 called NEO N3 RC1 was announced after 5 pre-edited versions. The testnet has been updated on March 25, including the following updates:

• Upgrade NeoFS API and combine with oracle;
• New opcodes updated to NEO smart contracts;
• Updated NeoVM virtual machine;
• Introducing the NEO platform’s first sidechain;
• Add a few interface adjustments to enhance the user experience.

This first testnet has been and is being audited by a partner who has been working with NEO for a long time. The fact that the NEO team released 5 previews and testnet shows that they develop the product very carefully, so the future launch of the NEO 3.0 mainnet will be a big news for the whole ecosystem.

Let’s wait for the NEO 3.0 mainnet event with me in the near future!

Infrastructure development and foundation tools

Flamingo Finance

Flamingo Finance – an application of many DeFi protocols developed on the NEO platform by the NEO Global Ecosystem Development Organization NGD – has been launched since September 2020 and so far has the following products:

• Flamincome: Bridge assets on Ethereum to NEO and aggregate interest on Ethereum;
• Wrapper: Multi-chain on-chain asset synthesis protocol;
• Swap: AMM DEX on NEO;
• Vault: Staking and property management;
• Vote: On-chain governance.

Flamingo Finance has plans for Q1 and Q2 2021: They will restructure their portfolio of assets on NEO and Ethereum, ensure the smooth running of the protocols, launch eternal futures contracts. , opens the possibility of trading synthetic assets on NEO.

During the beginning of 2021, they also released FIP # 2 – a protocol upgrade – to deal with protocol issues regarding asset price deviations. This is one of the most important updates to the protocol, as the price mismatch issue in Flamingo Finance needs to be resolved before further developments can be made.

In my opinion, with the roadmap and current position of Flamingo Finance on NEO, this project with a very strong community will develop well in the future if the roadmap is done correctly. Flamingo’s protocol suite is very well-suited to the needs of DeFi users such as transferring assets from Ethereum to NEO and interacting with those multi-chain assets.

Let’s wait for the next updates from Flamingo Finance!

Tools for discovery and management

NeoTube – an explorer (similar to Ethereum’s Etherscan) – has been finalized and upgraded to accommodate NEO’s 5th preview, and is in the works to accommodate NEO’s new testnet. 3.0.

Neo3-Boa is a tool for writing smart contracts on Neo in Python. In the past, Boa has also released the latest updates to help developers implement smart contracts on the NEO 3.0 preview 5.

Application development

Neow3j, NEO ONE and NEO Blockchain Toolkit are development toolsets on the NEO platform that simplify the construction of dApps and smart contracts. Recently, they released new updates to be compatible with the update of the Preview for NEO 3.0.

The development of development toolsets on NEO will help developers to operate more efficiently, so in my opinion, the continuous development of these toolsets according to NEO 3.0 updates is essential.

Wallet on NEO

Just recently, Neon – an open source wallet application on the NEO platform – has released their application on the phone. Currently users can access the wallet on both computers, phones (iOS and Androis).

Audit code

Neo 3.0’s code in the past February was audited by Red4Sec – an audit partner who has been working with NEO for a long time. Specifically, Neo 3.0’s preview # 5 was audited, found three smart contract errors that could be exploited, and the NEO team fixed those errors in the testnet released on March 25. Red4Sec will also continue to audit for the testnet production of Neo 3.0 in the future.

In my opinion, the occurrence of errors in smart contracts is unavoidable for projects. Careful auditing and timely repairs before launching the mainnet is essential to avoid the contract being exploited in the future.

Epilogue

If you follow the NEO platform updates on Twitter, you can see that they are in the rush stage of the rest of the development. In addition to marketing through continuously organized AMAs, code being audited for each development version, the toolkits are also rapidly updated according to NEO smart contract updates.

As I observed in ecosystems, after the smart contract development and aggressive marketing phase has completed, there will be a lot of investment opportunities in new DeFi applications in the ecosystem. You should observe and follow closely to find investment opportunities for yourself.

What do you think about the updates of this ecosystem over the past time? Please discuss and comment below!

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