In mid May, NEO and Ontology officially announced that they had reached an agreement to work together for the benefit of both networks. The main goal of this NEO-Ontology collaboration was to take NEO smart economy to the next level.
The first milestone is to get both, NEO Virtual Machine and NEO Contract technologies, widely and massively adopted. NEO Contract and NEO virtual Machine work to improve the user experience as they introduce NEO Smart Economy to the wider NEO community and the wider cryptocurrency audience.
If all changes take place, smart contract operations will be available on NEO chain as a product of the development. The end product is said to be the new face of the smart economy called NEO Contract Volume 2.0. So what should NEO users and investors expect from NEO Contract Volume 2.0?
One of the new features available to the NEO Contract called Serialize and Deserialize to handle complicated data structures. Likewise, the team will be adding a brand new set of API tools which will allow users to serialize or deserialize data, which means that the users will be able to decrease data to a fit byte size and consequently restore data to its earlier state.
NEO and ONT will be adding the new smart contract ecosystem concept of Sharding. The introduction of Shading by a blockchain project called Zilliqa (ZIL) will be a brilliant plan for technical upgrades, especially when it is integrated into growing networks that need to prevent circulation queues.
Dynamic Sharding will work centered on relevancy and response between users when using the contracts. The two teams will work on implementing a cross-chain solution named NEOx that will help enable cross-chain execution of smart contracts efficiently.
NEO will be hosting a series of including a Hackathon to be held in Japan on the 24th – 26th of August, 2018. The workshops aim to improve the skills of developers who would like to compete and contribute to the NEO ecosystem. The first workshop set for the 23rd of June in Tokyo and is scheduled to continue on a weekly basis with the Osaka workshops scheduled to begin in July.
The workshop will entail an overall lecture from lecturers like; Shizuka Eguchi from the Faculty of Economics at the University of Tokyo, who is also a founding member of NEO’s Japanese developer community, Kota Kato from the Ex-University of Tokyo, a developer on both Ethereum and NEO. Other high profile speakers and lecturers will be present at the workshops.
Ontology and NEO are yet to formally confirm when the changes will officially become available to the public. Nonetheless, it is certain that ONT and NEO have started with preparations for the future NEO Contract Volume 2.0 release next level smart technology.