Neo to become the first blockchain member of the .NET Foundation.

The decentralized open-source blockchain application platform Neo recently announced that it has become the first blockchain member in Microsoft's .NET Foundation.

According to a previously released press release, the platform announced that they officially joined the .NET Foundation, a leading open-source foundation created by Microsoft, at the 2019 NET Conference.

Neo, a smart economy platform from China often referred to as "China's Ethereum," is the country's first open-source blockchain platform aimed at enabling developers to easily use multiple programming languages for development.

Co-founder and core developer of Neo, Erik Zhang, stated during the conference:

Based on shared open-source code, NEO and the .NET Foundation will further empower millions of developers to lay the foundation for the next generation of the Internet. Our partnership has been established long before the release of the Blockchain Toolkit for .NET and NEO Express in September.

Neo presented a preview of its Blockchain Toolkit during the conference, which includes various applications such as a smart contract debugger, Neo Express, and Visual DevTracker, among others.

Major Upgrade to 3.0

Ranked 21st in global market capitalization, Neo will undergo a significant upgrade in the second quarter of 2020, known as Neo 3.0. This version will introduce a new blockchain network, requiring existing holders to swap their old Neo coins for the new tokens. Erik added:

Users only need to keep their private keys. The new tokens will automatically be deposited into their wallet addresses. This upgrade is essential as many architectural improvements to Neo's performance are incompatible with its current blockchain.

These updates will include cheaper transaction fees, deployment of smart contracts, and a faster blockchain network supported by a unified transaction model.

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