Future of the Blockchain: NEO, Stellar, Elastos and the New Smart Web
Catch the video of the 11/30/17 “Future of the Blockchain” Meetup in San Francisco.
Main Speakers
Rong Chen, Founder of Elastos; one of Microsoft’s earliest employees (1992-2000)
June Li, Co-founder & Chief Architect at Onchain (Blockchain Technology)
Da Hongfei, Founder of NEO & CEO of Onchain
Jed McCaleb, Founder of eDonkey2000, Ripple, and Stellar
Highlights
Elastos – Blockchain Powered Internet
- Building a smart web in partnership with NEO.
- Blockchain built on NEO with a peer-to-peer completely open network.
- Elastos to announce their pre-ICO end of December.
- The internet is not secure. It’s subject to DDoS attacks, malware, viruses.
- Virtual browsers and virtual websites will be decentralized without any IP addresses.
- Instead of Amazon or Alibaba cloud model, dApps will run on mobile devices, websites, PC and cloud servers.
- IDs are controlled by no one, yet there is trust.
- Authors who generate online content (gaming, e-books, etc.) dictate their own contracts and profit sharing.
Onchain and the Ontology Project
- Ontology builds a trust network through digital certification.
- Multiple modular blockchains (trust packages) to meet different requirements and different protocols.
- Building a bridge to create blockchains that focus on different technologies and industries.
- Easy and automatic way to prove and verify digital identity.
- Reputation system on the blockchain to verify content and data.
- Da Hongfei once believed Jed McCaleb was Satoshi, the creator Bitcoin.
- Differences between NEO and Ethereum:
- Design philosophies are different.
- NEO is not a blockchain; it’s an open network for a future smart economy with full automation.
- Trade and finance will be fair, trustworthy, transparent and efficient, reducing lawyers, accountants, regulators and governments that are in place to enforce trust through middleman transactions that are very expensive.
- NEO will reduce human error and intervention, making it less costly and more fair.
- Consensus mechanism is very fast: 15 seconds for one block, with increasing upside. One confirmation is the final confirmation without the need for additional confirmations.
- 1,000 transactions per second, much faster than other blockchains.
- Dual token system: NEO token is a stake of the blockchain; Gas token is for utility.
- Regular transactions have zero fees.
- Businesses pay for their users in a reverse token model.
- Reward tokens on reserve for blockchain NEO developers and entrepreneurs.
- Internet level protocol for payments to send money around the world.
- Streamlining middlemen, fees, time and expense to send money.
- Solving open protocol challenges for sending different currencies across different exchanges and platforms for full operability.
- Using anchors to hold your money on the network through a distributed order book throughout the network.
- Atomic payments that can scale.
- Cheap transactions that are confirmed within 5 seconds.
- Flexible trust model where you can choose your validators.
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