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NEO enters the ‘era of decentralization’ with its first independent node

NEO has staged a return to the top ten cryptocurrencies by market cap with the addition of its first independent network node.

Written by Bryan Smith Published on

NEO has today cemented a return to the top ten cryptocurrencies by market cap following its announcement that the first independent node has joined its network.

Previously, all nodes on NEO’s network have been operated under the wing of the project’s development team. The platform’s new, independent node arrives courtesy of City of Zion – a global group of NEO developers who have maintained a candidate node since January of 2018.

The development has also introduced a new webpage that tracks NEO’s operational status, lists active consensus and candidate node, and furthermore lists block height and time.

The announcement was first revealed on Twitter, where NEO’s development team exclaimed that the platform had ‘entered the era of decentralization’.

The advent is not without criticism, however, as users have noted that NEO’s development team has, up until now, retained an overwhelming monopoly on network nodes.

In response, NEO Founder and CEO Da Hongfei quipped that “We have to be very careful with decentralization of the consensus nodes, because the protocol of NEO is evolving very fast. We need those consensus nodes to act very quickly to upgrade, and if there is a bug or a security issue, we need them to respond very quickly. So we’re doing the decentralization process slowly, gradually and very carefully.”

NEO’s roadmap details that a number of additional third parties have been tipped to run consensus nodes in the near future, and would foreseeably be installed by the end of the year.

NEO has surged by as much as 7.69% at press time, and presently trades at $42.28 USD. The cryptocurrency has yet to recapture its all-time-high of $162.11 USD, which peaked on January 30th this year.

Written by

South African technology journalist, podcaster, photographer and filmmaker. Hodling - BTC, NEO, ETH.@bryansmithsa

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