Specialists of NEO Foundation announced the appearance of a new consensus node. This is one of the important steps taken by developers towards decentralization.
Until recently, all nodes were managed by the NEO project team. This caused much criticism from the crypto community. Developers were accused of excessive centralization of the project.
The idea of blockchain is that is a decentralized peer-to-peer system, yet there must be someone to make decisions without a central organization. For that, network participants need to come to an agreement using consensus mechanisms.
After an uninterrupted operation in the test network for six months, the node managed by City of Zion (CoZ), an independent international development team, was elected as the new consensus node to work on the NEO blockchain.
For several months, the nodes of the Dutch telecommunications company KPN and the Chinese venture company Fenbushi have been operating in the test mode. Until the end of the year, they are also planned to be voted on and made by consensus. In the future, NEO wants to launch an open campaign to organize the election of all subsequent candidates.
The innovation had a positive effect on the value of the cryptocurrency. Over the past day, its price has risen from $28,15 to $37,97, showing the best dynamics among the top-20 virtual currencies. Cryptoexperts make assumptions that next year Neo will be able to break into the top-5 cryptocurrencies.
By Ekaterina Ulyanova