On July 6, the NEO team finally announced NEO 3.0 after a number of cryptic posts they were teasing the NEO community with. The NEO team has provided details about the upgrade to the NEO platform, called “NEO 3.0”.
Erik Zhang (Co-Founder and Core dev):
NEO 3.0 will be an entirely new version of the NEO platform, built for large scale enterprise use cases. It will provide higher TPS and stability, expanded APIs for smart contracts, optimized economic and pricing models, and much more. Most importantly, we will entirely redesign NEO’s core modules.
Among the details and improvements are increased TPS (transactions/second). This should help with running large scale dApps on NEO. Furthermore, some known bugs and improved system stability are in the works.
After the upgrade, NEO will also be divisible. Before, GAS tokens could not be divided when paying fees, an issue that was detrimental to the utility of NEO and GAS. The team is looking into the economic model as well to make the cost of deploying and running smart contracts cheaper.
The smart contract platform itself is also being revised, with changes to its compatibility, permission systems, APIs and its NeoVM implementation.
The NEO platform already hosts a number of projects that have gained a lot of traction in the cryptocurrency community – the most notable being Ontology (ONT). Then there are also THEKEY (TKY), Aphelion (APH), and Neonexchange (still in the ICO phase).
More info can be found on the NEO blog.