NEO was founded as AntShares in China in 2014 by Da Hongfei and Erik Zhan and rebranded as NEO in June 2017.
Notable for its rise in previous bull seasons WHAT IS THAT, in the cryptocurrency market It is known as China’s Ethereum.
Today from Neo Ethereum statement came and NEO price started to rise.
Speaking at Neo’s event held in Hong Kong Da Hongfei, founder of Neo, Announced the development of an Ethereum virtual machine (EVM) compatible sidechain.
The side chain to be developed ETH It was stated that it will support based dapps and strengthen the interoperability features of the Neo N3 mainnet.
Additionally, it was stated that the sidechain is configured to resist Maximum Extractable Value (MEV) attacks such as frontrunning to improve the trading experience.
Stating that the side chain is under development, the co-founder of Neo said that the test network is planned to be implemented at the end of 2023. told.
“Neo Co-Founder Da Hongfei announces Neo’s new Chapter.
An EVM-compatible sidechain will be developed to ensure security, privacy and a seamless experience in the increasingly complex DeFi environment.
The sidechain is under development. “The test network is planned to be commissioned by the end of 2023.”
After this announcement, Neo’s native token NEO rose by nearly 13% to $8.8 and became the highest gainer in the last 24 hours. altcoin happened. NEO, which rose to $9.2 after the announcement, is trading at $8.83 at the time of writing.
*This is not investment advice.
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