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file storage and digital identity! – Cryptocurrencies

NEO presents its novelties

Now is the time to take stock for the Neo Foundation, which recently presented its community with an update on the activities carried out over the past four years. She also took the opportunity to outline her plans for the future, especially regarding Neo 3. The latest iteration of blockchain smart contracts is expected to include new features including file storage and D-ID functions (Digital or Decentralized Identity). More details below.


Imminent launch of NeoFS and NeoID products

The results for 2020 have so far been positive for the various products and activities launched by the Neo Foundation. This has in particular to its credit a most fruitful collaboration with Ontology and Switcheo with the new inter-chain interoperability service. In the point presented by the foundation, naturally appears the success of its DeFi product, namely Flamingo Finance. Resulting from the collaboration between Binance and Neo. The project has achieved a high of over $ 1.5 billion as total market value blocked. The success of the two products mentioned has only further motivated the Neo Foundation, which now sees larger with file storage service and decentralized identity features. Baptized respectively NeoFS and NeoID, these products should allow the blockchain to enter a new dimension.

A service that is still struggling to convince the public

Prior to the announcement of the Neo Foundation, a service focused on data storage, namely Filecoin, had already been launched on the market. IF the enthusiasm was present at the beginning of the adventure, she currently has a mixed record. This is also the case for digital identity products which are struggling to gain mass adoption. Despite the obvious interest in using an identity service on the blockchain, no project has yet succeeded.

The Neo Foundation therefore intends to achieve this feat as mentioned in its announcement with the arguments of new features that will lead to greater adoption. ” With new features and significant improvements in system security and performance, Neo3 is sure to become the ideal next-generation Internet infrastructure for mass adoption ยป, Specifies the foundation.

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By making its foray into DeFi with Flamingo Finance, Neo had already made some improvements over the competition that made it successful. It is therefore logical that it relies on the application of the same principle to succeed in the adoption bet with its new products.

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