September 7, 2017BLOG

NEO Council Monthly Report – August

By Neo Global Development

August has been a month rich of events. It feels like a long time ago, but it was only one month ago that we completed the NEO rebranding and launched a new website together with NEO 2.0 and full smart contract support. We have also seen the community grow rapidly and we are thankful for all the support. NEO is and will always be a community project.

Let's jump directly to the elephant in the room. There has been news on ICO regulation in China, together with speculations on how strict these regulations will be. The community has been asking for an official statement from NEO council. Unfortunately there is not more news than the initial guidelines from People’s Bank of China. The NEO Council is closely following the initial regulation process and will update the community as soon as there is concrete and official announcement from regulatory bodies to act on. What we can clarify is that these new regulations are related to public fundraising. Private fundraising with less than 200 participants is still legal in China.

While other blockchain projects are joking about sending satellites to avoid regulation, NEO is a serious project and we are willing to comply with directions and guidelines within the jurisdiction where it applies. Our objective is to empower Smart Economy with digital assets, digital identity, and smart contracts. We want to build a new fair economy. We not just describe what the ideal world should be, we seek after the walkable path from today to a better tomorrow. That is also why we choose to be compliant.

As a little reminder, we would also like to emphasize that NEO has other use cases much more than serving as an ICO platform. The blockchain revolution has just begun and the technology with using digital tokens and smart contracts is still sound and have many use cases, regardless of how these tokens are issued and distributed. We welcome and encourage teams to continue their projects on the NEO platform.

With that covered, let us get back to the monthly report. There will continuously be new people introduced to our project. To make it easier for everyone to follow the progress, NEO council have decided to release a monthly report with a summary of the major events and developments during the past month.

In August, NEO Council have completed the following (not in order of importance):

  • Completed rebranding to NEO
  • Launched new website
  • Released NEO 2.0 including full smart contract compatibility
  • NEO 2.0 upgrade maintenance
  • Smart Contract programming conference together with Microsoft Azure
  • R&D on using PGP signatures in neo-gui.
  • Updated technical documents, added Smart Contract “Getting started (Java)” and “Getting started (C#) for macOS“
  • Updated CLI Reference, API Reference, Smart Contract .net Framework
  • Testing of community developed projects (DO NOT USE CONFIRMED PHISHING)
  • RPX Smart Contract testing
  • RPX Smart Contract administration GUI
  • Smart Contract C# compiler development and maintenance
  • Smart Contract Java compiler development and maintenance
  • Cooperation with Innospace+ to create “Blockchain New Landmark”
  • Conference “Blockchain X Series - NEO example applications”
  • Second development night, INNOxNEO
  • Japan trip, meeting with exchanges and Nomura Securities
  • Tokyo Meetup

Moreover, the NEO Council have moved in to our new office at INNOSPACE+. We are 16 persons sitting here working full time on NEO and the NEO ecosystem. The team is also growing, the person writing this report is in fact a new official NEO member since September 4th. It is a previously active community member so some of you may know him from before. A short introduction can be found at the end of this post.

Along this monthly report, we would also like to take the opportunity to present the NEO roadmap for the coming six months:

Decentralization of consensus nodes:

  • P2P Network optimization (2017Q4) – Network optimizations to ensure fast block generation after decentralization.
  • Voting Algorithm Optimization (2017Q4) – Adjustments in voting algorithm to prevent identified attack vectors.
  • Candidate List Website (2018Q1) – Published list of candidates so that voters know who they are voting for.
  • NEO Council Consensus Node < 2/3 (2018Q1) – NEO Council shall operate less than two thirds of consensus nodes by the end of quarter 1, 2018.

Universal Data Format for Wallet/Node Prog.

  • NEP2 – Private Key Encryption/Decryption (2017Q4) - Method for encrypting and encoding a passphrase-protected private key.
  • NEP3 – Universal Data Format (2017Q4) – Standard data format to allow easier wallet and node programming.


  • Globally Legal Token-raising Framework (2017Q4) – Following government interest to regulate ICO’s, NEO will complete a framework to raise tokens legally in all major markets by the end of 2017.
  • NEO DevCon 1 (2017Q4) – First NEO Development Conference! More details at later date.
  • CoZ Funding (2017Q4) – Continuous funding plan for CoZ covering next 5 years.
  • Seed Projects (2017Q4) – First seed projects to be cross-invested with the dedicated NEO pool.

You can expect a new NEO Council project update every month from now on. We encourage more people to join our active community, either through CoZ or through new groups. Efforts are rewarded.

New NEO Council member:
Community members active in Reddit and Slack may already know me as an active contributor for the last few months. I have specifically been very interested in consensus nodes governance and economic modelling. My ideas were noticed by Johnson, Business Development Director at NEO, and he invited me over to Shanghai for a chat. Now, roughly 6 weeks later, I am honored to join the Neo Council. I will continue with research and development, and help to coordinate development efforts between the international community and the Shanghai Neo team. I also aim to help manage the differences in communication expectations between the Western and Chinese communities.

As a short introduction, I am jack-of-all-trades. I have two M.Sc. degrees from Linkoping University in Sweden, started my career as Software Engineer at Accenture, and then moved on to become team manager for a software development team in the Netherlands. In the Netherlands, my focus was to increase agile awareness in the organization and implement DevOps in the tech department. When the Dutch team needed more development resources, I was sent to China to establish a new software development team to work together with the team in the Netherlands. The project was successful and my role since then has been to manage the cross-border software development. I was “forced” to learn Mandarin while doing exchange year at Nanjing University (taking Computer Architecture taught fully in Chinese is no joke), so hopefully my language skills can also be helpful to bridge gaps. I am very excited to be part of this project and working together with all of you in the community; I am active in Slack and will do my best to answer your pings there.

Malcolm Lerider

#Monthly Report #NEO