NEO Just Got $100M in Funding to Build Ecosystem

NEO, an open-source, community-driven blockchain protocol for the development of dapps and smart contracts for the new “smart economy,” just received $100 million in funding to support and grow the NEO ecosystem.

The announcement came during the Consensus 2019 event in New York, where NEO co-founder Da Hongfei presented the next phase of NEO and revealed details of a $100 million EcoBoost program designed to support growth and innovation in the NEO ecosystem.

NEO’s EcoBoost Program

The EcoBoost program will primarily be focused on 4 things: seed project activation, dapp growth support, infrastructure development, and institutional collaboration. The program is set to boost these areas by providing tech training and support, marketing efforts, project collaborations, events, community support, and more.

The goal is to develop and grow a strong NEO ecosystem, as this is of vital importance to any blockchain project.

As put by Da Hongfei:

“Without an ecosystem – blockchain – you can say it’s useless. It’s just a bunch of technology.”

The Next Phase of NEO –  NEO 3.0

In addition to announcing the $100 million funding initiative, Hongfei presented details of the “Next Phase of NEO,” dubbed NEO 3.0, a new NEO blockchain poised to provide optimal infrastructure for mass adoption.

According to Hongfei, a paradigm shift is taking place that will enable us to retain control and ownership of data. He says this will come with a new internet consisting of 4 layers: the content-neutral network, the state and settlement layer, the transaction layer, and the application layer.

The goal for NEO is to be apart of each layer in this new paradigm of the internet and have high-quality infrastructure capable of onboarding mass adoption.

Do you think NEO can still be considered the Chinese Ethereum? Let us know what you think in the comment section below.