The latest NEO news show that the public blockchain and smart contracts platform has integrated with the Coinbase-led and open-source project Rosetta. As NEO integrates with Rosetta, both of the projects will be working to create a next generation Internet.
Neo integrates with #Rosetta, an open-source project led by Coinbase. We look forward to work together with Rosetta improving protocol integration processes in order to build the next-gen Internet.https://t.co/Nl8nF3OW4G
— Neo Smart Economy (@Neo_Blockchain) August 28, 2020
As they outlined in their blog, the collaboration will improve its protocol processes in order to build a decentralized economy of the future. This integration, which is also known as Web 3 or the next-gen Internet, will also help NEO expand. The start will be by optimizing a smart contract system.
The community-led blockchain platform believed that in order to make the blockchain integrations more reliable, the process involved required a lot of communication. The release stated that the firm decided to call his new digital infrastructure. Neo3 is another name for this, describing a system which would accelerate adoption and innovation.
NEO also said that leveraging Rosetta will help the firm release the integration by the end of 2020. Obviously, there are some drawbacks but the blockchain platform identified them and elaborated on how working on these new features required developers to analyze blockchain networks for a plenty of time.
The blog post also shares details about project developers, and how they spent more time answering support questions for blockchain integration, rather than working on the blockchain itself. However, the smart contract platform was optimistic that Rosetta can help it overcome those drawbacks.
Now, Rosetta acts as an open-source project which NEO integrates with, supported by the leading cryptocurrency exchange Coinbase. The project helps other exchanges, wallets, as well as blockchain networks in improving their communication. Currently, Rosetta is involved in the promotion, adoption, collaboration, and the widespread use of different blockchain solutions.
So, it will be very interesting to watch and see whether this partnership will enable NEO to join the mainstream league in the smart contract platforms. Much like the close contender Ethereum, the cryptocurrency is now a part of Poly Network which focuses on interoperability on the blockchain.
Anyways, as NEO integrates with Coinbase’s Rosetta project, there will be plenty of great things coming in the upcoming Coinbase news and updates.