NEO Receives $100 Million In Funding To Develop Its Blockchain Ecosystem #NEOEcoBoost

NEO has receiver $100 million in funding in order to be able to continue with the development of its ecosystem and protocol. The NEO blockchain is one of the most popular networks in the market and it allows companies to deploy their systems and decentralized applications (dApps).

NEO Receives $100 Million In Funding

At the Consensus 2019 event in New York, Da Hongfei, the co-founder of NEO revealed a new $100 million program called EcoBoost that was designed to support growth and innovation in the NEO ecosystem. As per the announcement, the invention is to activate seed projects, offer support to dApps, develop the infrastructure on the platform and integrate and collaborate with institutions. In this way, the NEO ecosystem will be able to grow and expand.

Da Hongfei explained that without an ecosystem and a blockchain it is not possible to call something useful.

“It’s just a bunch of technology,”

he said.

Hongfei has also presented details of the Next Phase of NEO that is called NEO 3.0. The goal is to provide optimal infrastructure for mass adoption. Hongfei explained that they are shifting to retain control and ownership of data. Moreover, he said that there will be an internet that will consist of 4 layers.

These four layers include the content-neutral network, the state and settlement layer, the transaction layer, and the application layer.

NEO is one of the largest cryptocurrencies in the world. According to CoinMarketCap, NEO is the 20th most valuable blockchain with a market capitalization of $775 million. Each NEO has a price of $11.94.

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