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Cryptocurrency

NEO Blockchain Unveils NEO EcoBoost Funding For The NEO Ecosystem At Consensus 2019

Consensus 2019, held in New York, is one of the most awaited events of the crypto industry. Many exciting announcements have been made since the inauguration on 13th May, and the event will be concluded on Thursday, the 16th.

The announcement coming out of the NEO Blockchain states that it has secured a $100 million NEO EcoBoost funding for the NEO ecosystem. The funding will help the platform to develop its infrastructure, and even enhance its support to DApps.

NEO is a smart economy open network, focused on digitalizing assets using blockchain technology. The Shanghai-based blockchain platform is one of the several DLT projects to emerge from the blockchain boom in East Asia in the last few years.

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The newly unveiled funding will help the platform to focus on activating seed projects, improving support for DApps, and institutional collaboration. The EcoBoost fund will also be available for projects at different phases of their life cycle, right from inception, until maturity. The program will facilitate technical training, collaborations, community enhancement, joint marketing efforts, and much more.

Emphasising on the importance of ecosystem development, NEO co-founder Da Hongfei said,

Without an ecosystem – blockchain – you can say it’s useless. It’s just a bunch of technology.

Development of ecosystems is extremely important for sustainable growth of any blockchain project. Advance infrastructure, sophisticated technical support and improved facilities encourage developers to develop more and more DApps for the platform, which will ultimately increase the daily trading volumes of the blockchain. Increased trading volumes generally translate to better revenue, which provides strength to the native tokens.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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