NEO (NEO) holders and watchers got some surprise new hours ago after it was announced that it is making its first steps towards decentralization. The announcement has pushed the coin to become one of the highest gainers in the top 10 trade in the double digit zone. The plan has been in the works and a new ecosystem will usher in more opportunities for the steady rising coin.
Through a mysterious tweet from their platform’s official twitter handle indicates that the long awaited journey is set to begin in a few hours. This is a huge milestone and will shape the future not only of the NEO coin but the entire crypto verse simply because the coin has remained stable with the best performance in terms of market circulation.
NEO Elections Sets the First Step to Decentralization
The City of Zion consensus election is the beginning of the NEO decentralization. This will see NEO mainnet come into being. The City of Zion is a worldwide outfits comprised on translators, developers, and designers that are supporting the NEO Core independently.
City of Zion has been running NEO testnet for the last 6 months and everything seems to be running smoothly. There are several independent nodes riding on the testnet and will be voted towards the end of the year. KPN, a Netherlands based telecom company, is hosting some of these nodes.
KPN is a huge boost for the NEO decentralized network as it boasts of 6.3miiliom a fan base of 33 million mobile phone subscribers across the Netherlands, Germany, France, Spain and Belgium. The company has over 2.1million internet consumers spread across Western Europe
NEO (NEO) shift From Centralized to Decentralized Ecosystem developer team is set to oversee the shift from a centralized outfit to a decentralized one and the network upgrade will transform NOE with more opportunities in the offing.
According to the NEO founder, Da Honfei:
“We have to be very careful with decentralization of the consensus nodes, because the protocol of NEO is evolving very fast. We need those consensus nodes to act very quickly to upgrade, and if there is a bug or security issue, we need them to respond very quickly. Se we are doing the decentralization process slowly, gradually and very carefully.”
What does a Decentralized NEO (NEO) Ecosystem Mean?
Given the scanty news from the twitter post, one thing is very clear that the process commenced on July 4 at 21:00 (GMT +8). There is a lot of anticipation that the team behind the transformation process is set t release the details about the network nodes. Until that is made public, it remains a speculation.
The twee, roughly translated to English reads:
“No innovation, No decentralization, No Communication… We have heard many voices “of No” over the past. While the market changes, NEO’s vision remains unchanged. From the first step of decentralization to new ere of Neo ecosystem is about to unveil.”
At the time of compiling this report, one thing is very clear; the date of commencing the decentralization has begun and there is no turning back. This announcement has been accepted with mixed reactions but this has not eroded the community passion with the NEO price heading north.
NEO (NEO) Prices Spikes
Though the entire decentralization process has been in the pipeline, the news has seen the NEO price surge to trade in the double digit thresholds. Billed the Chinese Ethereum, NEO has been bullish and its resistance against the plummeting market has attracted a lot of interest and this has seen a surge in adoption.
NEO (NEO) was ranked 12th by market cap and has since jumped to the 10th position and the gains appear to be sustainable in the next 7 days. With the market still unpredictable, there is lot of expectations that the price appreciation will hold longer. After the announcement, the coin gained 12% to the dollar but now stands at 17.37% to trade at $42.40.