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.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.
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