NEO DevCon 2019 took place on the 16th and 17th of February in Seattle, Washington. The Summit was meant to bring together developers, DApp creators and industry leaders from various industries to share ideas on the current and future progress of the industry.

Although the conference bought in many notable personalities from the crypto ecosystem, one of the most widely anticipated speakers was Neo co-founder Da Hongfei. He spoke about many topics including the future of blockchain industry in the financial industry, his views on NEO 3.0, and also appreciated the contribution of Ethereum dev community.

Regarding blockchain technology being utilized in the fintech space, he said:

“After 2014, bankers realized that some geeks invented a protocol that could transfer value across countries in a few minutes. So they are curious about the technology and they abstracted it and called it blockchain.”

He made clear of the fact that NEO and ETH are taking very different approaches to solve the problem of decentralization. He, however, appreciated the contribution of the Ethereum developers.

“Ethereum currently has the strongest community of developers; they are like the go-to solution. If you want to study how to do a smart contract, you will probably do it on Ethereum. So those DApps will become as nobody will use.”

Hongfei even gave his opinions on running a decentralized company and a centralized one.

“Leading a blockchain company is not like leading a centralized company. You are not owners; you are not in complete control, sometimes if you are controlling too much, the community will say you are too centralized. We have seven consensus nodes, and the NEO foundation controls five of the nodes. We are slowly in the process of decentralizing the consensus nodes. So yes, it’s like art; you need to balance between efficiency and decentralization.”

NEO 3.0 has been much awaited and talked about in the crypto ecosystem. On the upcoming architectural changes on the blockchain, he said:

“So, for now, all the decentralized apps are built on top of layer one directly on the blockchain. But we believe that in the future, there will be different layers, a lot of layer 2 solutions. Many (if not all) of these DApps will be built on top of layer two solutions. So we need better or native support for layer two solutions.”

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.


Please enter your comment!
Please enter your name here

twelve − eight =