NEO Founder, Da Hongfei Addresses FUD And False Claims
The founder of NEO, Da Hongfei went to the front to clarify the confusion encompassing the NEO digital currency with his straight facts. There has been a ton of FUD around this digital currency in regards to its dBFT consensus mechanism, the arrangement to decentralize the consensus nodes and the delay in the most recent block.
The worries began a couple of days back when questions have been set up about the previously mentioned aspects of NEO. Because of “alarmingly small number of smart contracts” its system has been alleged to be centralized. It has been additionally said that NEO blockchain has poor performance that is no place close to its advertised 1000 transactions per second.
It had likewise been expressed, the developers claimed that the smart contract system of NEO needs different features as well as inadequately coded. Moreover, NEO had a two-hour block a couple of days prior, which brought up issues about its technical establishments. In any case, an NEO team member that it happened on the grounds that a single node went down that caused a halt in the consensus procedure.
In the light of expanding FUDs, NEO’s founder Hongfei clarified any confusion around NEO’s consensus mechanism dBFT where no holder takes part in the consensus procedure directly rather through votes by means of a special voting transaction in Consensus Nodes. These Consensus Nodes’ numbers are set also to NEO holders process, that extends from 7 to 1024.
The elected nodes accomplish the consensus block by block in BFT sort of algorithm. Out of the aggregate NEO tokens, NEO Council oversees around 50 percent tokens whose emphasis is on effectiveness rather than decentralization at this moment. They have just utilized their tokens to vote just in 7 consensus nodes previously.
He additionally said that NEO blockchain has many full nodes on the web however, it is hard to measure the correct number. With respect to in 2018, the Consensus Nodes will associate with 7 to 13.
Hongfei specified that the reason given by Malcolm Leridor is “ridiculous and ignorant accusation and can be debunked easily.” He clarifies that it may be caused by something in the p2p p2p protocol of NEO. They have already tested it and plan to deploy it on mainnet by this week.
As indicated by him, bugs are not irregular to experience even the most critical ones and the edge of dBFT can without a doubt be seen here. Besides, he expressed that regardless of whether the bug in a p2p protocol that caused network stagnation is there, no consensus fork happened and no transactions require a reversal.
