In an open letter right now to Neo neighborhood members, the Neo Basis mirrored on the previous 4 years of exercise and teased their plans for the long run: Neo3, the third iteration of their good contract-enabled blockchain, which is able to sport file storage and D-ID (Digital or Decentralized Identification) options.
Neo, the twenty second largest cryptocurrency by marketcap, has loved a robust yr, having efficiently launched a cross-chain interoperability product in collaboration with Ontology and Switcheo.
Moreover the self-styled “good economic system” platform’s foray into the summer time DeFi craze was equally profitable — the joint Binance and Neo effort Flamingo Finance peaked at over $1.5 billion TVL of their Mint Rush yield farming vault product.
Despite their success with interoperability and DeFi, because the Basis’s letter turned to future developments they teased forthcoming options which might take Neo3 in a pair of peculiar new instructions: file storage and decentralized id options named NeoFS and NeoID.
The market has demonstrated a decidedly combined urge for food for file storage on the blockchain. Filecoin, one other information storage-centered product whose FIL token went stay October fifteenth, rallied violently to the tune of 118%, previous to an equally savage dump of almost 80% from all-time highs.
Digital (or decentralized) id blockchain merchandise have additionally seen stymied adoption. Whereas id on the blockchain presents a transparent use case, nobody challenge has but damaged mainstream.
Regardless of not being in vogue, the Neo Basis wrote that they hope these options will result in larger adoption throughout the house:
“Along with huge new options and enhancements in system safety and efficiency, Neo3 will certainly change into the best next-gen web infrastructure for mass adoption.”