NEO’s Reddit AMA – Top ten Questions and Answers
by CryptoCoinMastery · Published July 28, two thousand seventeen · Updated July 27, two thousand seventeen
You may or may not have heard that the founder (DA Hongfei – dahongfei on reddit) and core developer (Erik Zhang – erikzhang on reddit) of Neo (formally known as Antshares) were doing an “Ask Me Anything” over on reddit. Presently, at the time of writing this article, over three hundred questions have been asked. If you don’t have time to go through them all, this article will showcase what I believe to be the most significant/interesting questions that have been asked. So without wasting any more time, here are the questions and answers that I found most helpful.
Hi guys. Any upcoming partnerships we don’t know about yet? I’m interested to hear what businesses are interested in ultilising the NEO network and its clever contracts.
There are no fresh partnerships to announce yet. But we do see dramatically enhancing interests of building dApps on NEO and/or using the NeoContract system. We’ll announce a Seed Project to encourage developers to build dApps and third-party apps around NEO. There are also dApps on other blockchain planning to port to NEO. I believe we will see slew of dApps/projects built around NEO in the 2nd half of 2017.
Please clarify the rumors regarding NEO’s affiliations with companies like Alibaba and Microsoft. There is much speculation but little in the way of hard facts, can you please expand upon these?
There is no direct cooperation inbetween Alibaba and NEO/Onchain, other than their mailbox service is using Law Chain to provide attested email service. In terms of Microsoft, yes we have cooperation with Microsoft China because NEO is built with C# and .NET Core, and NeoContract is the very first in the world to support writing clever contract with C#.
Can you give us an idea about the size of the China based development team?
There are about half a dozen full-time developers here in Shanghai, among them two are core developers. We don’t need ems of people doing protocol level development. Other than that, there are a few dozens more contributing code and ideas as community members, some of them are Onchain DNA developers. Besides we have a few academic researchers serving as technical advisors. By telling Core developer, we mean who has commit permission on GitHub. Bitcoin has fifteen core developers as of today.
Hi. Are you actively working towards getting NEO listed on other exchanges? Enhancing the number of exchanges NEO is listed on will improve its visibility, exposure and price potential. Getting NEO listed on Japanese, Korean, European and American exchanges such as: Kraken, Bitfinex, Poloniex, Huobi, Okcoin, Bithumb, Btce, and many more will help to improve your prospect.
At this moment, we are actively working on the network upgrade. We undoubtedly would like to see NEO being listed on more exchanges, especially the one caters different countries. It is up to the exchanges but we plan to reach out to them in the future. As a teaser, Erik and I are travelling to Japan in August.
How will NEO/OnChain prevent fresh ICO’s with bad intentions/scams on their platform? Will they check the ICO’s accurately? Since ICO’s with bad intentions reflects on the entire NEO as a supporting platform.
How to regulate ICO is a hot topic in the Chinese blockchain industry and community. The head of Digital Currency Institute at PBOC (central bank) recently published an article on ICO regulations. He said the regulating authority should rather be the gatekeeper than scavenger. Pre-screening or licensing may huddle innovation, so the regulators should pay close attention to those ICOs but only step in when needed. We think this standpoint is well balanced inbetween plasticity and legitimacy. If any ICO project looks like a Ponzi scheme or scam, we will warn the public and regulators may step in.
NEO vs GAS has been the hot topic for the last few weeks. There are many who argue: why buy one NEO to generate one GAS (in about twenty two years) when you can buy GAS right now and for cheaper. What is your team’s opinion on that view?
The NEO holder will get benefits in two ways: one is each block will prize to him so that if he hold one neo and keep twenty two years so as to get one gas. On the another mitt, he will get benefits from the gas consuming of the users of NEO system. If no one use the system, he will just get one gas after twenty two years with one neo. But you can imagine if more and more users for the NEO system, how much the NEO holder will get, much more than the very first way, right?
This reaction was a little unclear. It seems safe to assume he meant that the GAS prizes of NEO holders will increase relative to the fees generated by enhanced transaction volume. By this logic, the more people that use the network, the more GAS you will receive per NEO you own.
A lightning network such as Ethereum’s proposed Raiden Network permits for the possibility of securely transacting off-chain and later broadcasting those transactions to the public blockchain. These lightning networks are predicted to increase transaction speeds by orders of magnitude and also opens up for the IoT market. Are there any plans to implement a corresponding NEO lightning network?
Current NEO network can treat one thousand TPS with 15-20 seconds for final confirmation. We are not despairingly in need of state channels.
Having to send all of your NEO funds to yourself to obtain GAS seems odd. It is also nerve wracking for those of us who have a LOT of NEO. Will future wallets permit us to simply obtain GAS without claiming in this way?
auto-claiming will spam every block with ems of thousands of transactions modifying GAS balance for every address holding NEO.
This may be a difficult question, but I imagine that many of us are wondering: For those of us who are not Chinese citizens, how do you envision the regulation of the Chinese government on cryptocurrencies such as NEO will affect us? How will we be able to operate within our international spaces in ways that help us create a viable product, while still respecting the expectations and directions of the Chinese government?
I don’t think it is what we should worry. NEO has digital identity module built in. Everything we do we make sure it is compliant. In addition, NEO is becoming one of the most internationally known open-source project originated from China. I think the government will love what we did. Besides, Onchain had been providing consulting service for several local governments to use blockchain in society management.
Hi there, brief question: what is your top three for priorities from now till 2018?
for (int i=0; i<Three; i++) printf (“NeoContract Ecosystem”);
I truly hope that cleared up some of the questions you had about NEO. I’ll proceed to update this post if I find a better question within the AMA.