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Neo News #1: dAppXplorer, Switcheo, dApp Success, Neo3, Network Growth

Jan 19, 2020 | Cryptocurrency

The evolution of different cryptocurrency ecosystems is always important. Even if one might not like a specific ecosystem compared to others, the industry as a whole benefits from any progress made.

While Neo is often overlooked, there are plenty of recent developments. All of these updates, projects, and changes paint a brighter future for the crypto industry as a whole.

Explaining Neo via Video

It is evident that explaining cryptocurrencies is difficult. It is often better to show and tell, rather than just tell. In the case of Neo, a new video has surfaced on the dAppXplorer platform

That is remarkable, considering how there appears to be little attention for this ecosystem today. A handy explorer video is crucial to drive further adoption. Neo is home to two separate assets, for example, yet most people remain unaware of that aspect.

Switcheo Investment

Many different projects rely on the Neo blockchain to remain operational. One such project is Switcheo, a trading platform. The project received an equity investment from the Neo Eco Fund. 

With this funding, the Switcheo token will become redeemable for GAS at a to-be-determined price level. This swap will occur through the SWTH/GAS market on the Switcheo platform. More details about this development can be found here

Notable dApp Success

When it comes to dApps, it appears most discussions focus on Ethereum, EOS, and Tron. It is crucial to keep in mind that roughly a dozen dApp ecosystems exist today. Those includes the likes of Klaytn and Neo, among others.

One of the dApps built on top of Neo’s blockchain has become successful. Based on user activity among gaming apps, NEOFish ranks #4 between January 7th and 12th. Very impressive, but sustaining the growth will not be easy. 

Neo3 is Coming Soon

Further advancing the ecosystem is primarily a job for the core developers. So far, the progress made on Neo3 is tangible. The governance model proposal was finished a few weeks ago. There is also progress  on built-in Oracle voting, as well as other crucial aspects.

While there is still plenty of work to be done, an open dialog with the community is paramount. The Neo team does so through its Medium account. A new report is published on a monthly basis. The latest edition of December 2019, contains a lot of useful information. 

The Network Looks Healthy

Similar to most crypto projects, the NEO ecosystem looks very healthy. There is a notable increase in active addresses since mid-December of 2019. The transaction count has remained virtually the same, indicating the network is in a good place overall.

Fintoism NEO 1901

Further advancing these statistics will be necessary. As the prices go up again, a lot of people may come back to their diversified portfolio. It is up to the Neo developers and community to captivate an audience and take the next step. That is always much easier said than done. 

Images courtesy of their respective sources.

Fintoism is not providing financial or investment advice. All content published on this platform is for entertainment and educational purposes only.

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<a href="https://fintoism.com/author/oglock/" target="_self">JP Buntinx</a>

JP Buntinx

JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.

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