KPN Dutch Telcom Company Gets NEO Blockchain MainNet Consensus Node Vote

The NEO Foundation has finally released its tight grip on the NEO blockchain protocol.

This is after KPN, one of the largest telecoms in the Netherlands was voted in as one of the MainNet consensus nodes.

NEO Is Finally Embracing Decentralized Controlled

Blockchain projects are founded on the principle of decentralization. NEO Foundation seems to be finally embracing this reality. The foundation announced on October 22 that KPN was voted in as a consensus node in the NEO protocol on October 20.

Previously, NEO Foundation hosted 6 of the 7 nodes. Many hail this as a step towards NEO’s decentralization. It could also help with the future success of the NEO protocol.

Moving Towards Decentralization

Since the mainnet was launched on October 17, 2016, the foundation has sort to actively pursue the protocol. It wants to democratize its elections. Currently, it maintains almost complete control on voting. For about two years, all the consensus nodes have been hosted on the mainnet.

In July, the City of Zion, which is an independent group of designers, translators, and developers, was voted as a consensus node by the NEO foundation. The vote took place in July and just three months later, KPN has been added.

The Dutch telecom has been working as a consensus node on the testnet. It has thus far managed to be stable. This has led to it earning the admiration from the community. This prompted the foundation to hold an election three months prior to when it was planned.

The foundation plans to delegate the consensus nodes to the partners that deserve them. This way, the economy can become decentralized. On the NEO consensus page, you will find information on the status of the nodes and applications for off chain governance and on chain governance.

The testnet is more decentralized than the mainnet. On the testnet, the foundation has two nodes and the CityofZion has two nodes. Meanwhile, Swisscom, KPN, and the NEO Global Development each have a node.

Decentralization Timeline

The NEO testnet was launched in November 2015. The mainnet was launched one year later. The NEO foundation hosted all the 7 nodes for the mainnet. In 2017, various activities took place aimed at decentralization.

The NEO voting algorithm was optimized in January 2018. It set the tone for the path to decentralization. The foundation voted Swisscom blockchain as a node in September. This election of consensus nodes is expected to be wrapped up by 2019.

The NEO token currently trades at about $16. However, the election of KPN has not heard a major influence on the price. The NEO token is the 15th largest crypto by market cap and has a market cap of about $1 billion.

If NEO continues to decentralize, it will attract more interest and the community will continue to grow. This is a step towards a better future. NEO should not backtrack in this path. It will help both holders of the NEO token and the crypto world if NEO is decentralized.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide