NEO climbs 15% following series of positive Consensus 2019 announcements

15 May, 2019
by Ryan Boltman
Analysis
NEO climbs 15% following series of positive Consensus 2019 announcements

NEO has been through a tumultuous time over the past year, with the price crashing to under $6 by December 2018. However, following the resurgence in the market, coupled with plenty of announcements at the Consensus 2019 event, NEO is back on the rise.

NEO which was once called the Chinese Ethereum, has had a very positive start to 2019, climbing over 38% in 2019. The recent announcements at Consensus 2019 have also seen positive price movements as NEO climbed 15% on the day. 

NEO has been extremely active at this years Consensus crypto conference, with some big announcements coming from the project. NEO kicked off their Consensus campaign by announcing that people visiting the stand can claim their NEO T-shirt. 

NEO Co-founder Erik Zhang announced the completion of NEO 3.0 Native Contract, 

NEO 3.0 features Native contracts set to include several new key features such as a manifest and permission system, internet resource access, and voting system. NEO 3.0 is still being worked on currently, with the team currently working on a new P2p protocol, the LZ4 compression option has also been added and the UDP protocol support is under development. 

NEO founder Da Hongfei also announced NEO 3.0 while speaking at Consensus, stating that "NEO 3.0 is to provide optimal infrastructure for mass adoption. The changes of NEO3.0 include architecture refinement, native support for layer2, optimization of consensus, new functionality eg. Oracle, NeoFS, NeoID & lastly, security improvement."

Hongfei also announced an additional $100m worth of funding into the NEO ecosystem. The funds will be used to activate seed projects, support dApps growth, further development infrastructure and bolster institutional collaborations. 

Coupled with the announcement of an additional $100m in funding, Hongfei has also been added as a #Binanceforchildren Ambassador for the Binance Charity. 

NEO also had team members talk about NeoFS, distributed p2p data storage as well as NEOID, a decentralized identity protocol that looks to empower users and organizations to have better control of their identitites and delivers a higher degree of trust and security in the smart economy. 

NEO also previewed their toolkit for Visual Studio and NEO Express Node. NEO have certainly come out to Consensus with guns blazing, the project appears to be making huge headwind in the blockchain space and looks to continue doing so for the forseeable future. 

The price of NEO surged 15% over the past 24 hours, with a combined 27% growth over the course of the past three days, seeing the top 20 altcoin climb over the $10 mark: 

 NEO/USD Chart provided by Tradingview

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