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.

NEO

• 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.

Stellar

• 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.