NEO and Ontology will work together to build a smart contract ecosystem, and will fully support the development and adoption of NeoVM and NeoContract, and will collaborate on developing smart contract open standards. They have signed a “MoU Concerning Strategy and Technology” this May and organized a joint task force.
In May NEO & ONT signed MoU to jointly build a smart contract ecosystem, to fully support the development and adoption of NeoVM & NeoContract, and to collaborate on developing smart contract open standards.
Below is a deep dive into NeoVM & NeoContract.https://t.co/1I7YRofTtJ
— NEO Smart Economy (@NEO_Blockchain) June 5, 2018
The NeoContract APIs is a set of advanced APIs amalgamated together into the system of NeoContract to handle advanced tasks that are greater in number with higher complexity and such are accessible via interop services of NeoVM.
Amongst the APIs include runtime data, ledger data, persistent storage, smart contract management and digital assets. NeoContract APIs are sets of interfaces that enrich smart contracts with practical and powerful functionality.
Designed for execution of the smart contract on NEO, the decentralized virtual machine, NeoVM was developed with low-coupling architecture which makes its use versatile beyond blockchain industry, as long as there is a suitable interop service API.
The virtual machine, on its own, also consist of the execution engine, stacks, and interop services. NeoVM is not only applicable to blockchain but also to scenarios elsewhere thanks to its low-coupling architecture.
SDK is dubbed a collection of applications and plugins designed for NEO smart contract developers. SDK is a combination of applications and plugins designed for NEO smart contract developers, which makes NEO smart contract development a user-friendly experience.