'China's crypto ban had little impact on Neo,' says organization's developers

Once hailed arsenic the "Ethereum of China," Neo's token terms has fallen connected hard times ever since the world's astir populous federation introduced a bid of acute bans connected cryptocurrency operations past year. In an exclusive interrogation with Cointelegraph, Neo's developers — who wished to stay anonymous — explained that partners tally astir projects sponsored by Neo Global Development, oregon NGD, from a wide scope of countries extracurricular China that service users each implicit the world.

In addition, Neo continues to grow wrong China. It is presently 1 of 7 unfastened support blockchains servicing the nation's Blockchain-based Service Network, oregon BSN. One of the group's goals is to grow the adoption of nonfungible tokens successful the country.

There's besides been rather a fewer decentralized finance, oregon DeFi projects, and decentralized applications, oregon dApps, since the motorboat of the Neo 3.0, sometimes stylized arsenic Neo N3, mainnet past year. One illustration is Defina Finance, an anime-styled NFT metaverse crippled that uses a play-to-earn model. Total trading measurement successful the Defina marketplace has exceeded $100 cardinal astatine clip of publication. Defina began expanding to Neo N3 successful 2021 successful concern with NGD.

But according to the project's team, the "coolest" improvement is astir apt that of Rentfuse. Our sources from Neo explained:

"Rentfuse is simply a protocol designed to negociate NFT rental agreements betwixt owners and tenants for gaming oregon different functions. Neo enactment is moving with Rentfuse to found it arsenic an NFT leasing modular for the Neo ecosystem."

Its developers, too, look to beryllium fond of the greater Neo community. "We reached thousands of radical done Neo socials to fto radical cognize much from us, and we person developed the halfway contracts of Rentfuse,” truthful said Michael Fabozzi, laminitis of Rentfuse, successful a connection to Cointelegraph. "Thank you for believing successful us."

Meanwhile, sources astatine GhostMarket, a multi-chain Neo NFT marketplace that precocious raised $2 cardinal successful strategical backing and completed an archetypal DEX offering connected Flamingo Finance, told Cointelegraph:

"Neo's $10 cardinal N3's aboriginal adoption programme [last year] was captious for Neo to pull and onboard caller projects and was precise overmuch needed to exponentially standard Neo ecosystem."

When asked astir what made Neo unsocial successful a oversea of smart-contract, proof-of-stake blockchains, they explained that retired of galore highlights, Neo 3.0 has a autochthonal built-in oracle for HTTPS oregon NeoFS requests. A distributed information retention solution besides exists for scalability and privateness connected the NeoFS Network.

In addition, interoperability protocol Poly. Network enabled cross-chain communications betwixt Neo and Ethereum (ETH), Binance Chain (BNB), and more. There's besides NeoID, which is simply a aforesaid sovereign individuality inaugural allows developers to customize the precise level of property verification needed to guarantee that declaration operates correctly.