Open source public blockchain platform Neo Smart Economy announced on Friday that it has integrated with Coinbase-backed open-source project, Rosetta. In the official tweet, Neo stated that the two will work together to improve protocol integration processes for building the next-gen Internet.
Neo integrates with #Rosetta, an open-source project led by Coinbase. We look forward to work together with Rosetta improving protocol integration processes in order to build the next-gen Internet.https://t.co/Nl8nF3OW4G
— Neo Smart Economy (@Neo_Blockchain) August 28, 2020
Neo is focused on building a decentralized economy for the future, which is expected to be built around the next generation of Internet, commonly referred to as Web3. Driven by community participation, Neo implements blockchain and digital identity technologies for the automation and digitization of assets using smart contracts. The next-gen Internet will also play an important role in the growth and expansion of Neo3, a new smart contract system and feature loaded infrastructure, that is expected to go live by the end of 2020.
In the official announcement on Medium, Neo said that executing blockchain integration is a complicated and time-consuming task, which requires carefully analysing the aspects of concerned blockchain networks, and extensive communication with developers. Moreover, the integration requires continuous modifications and extensive testing, which results in longer release times. Integration with Rosetta will help Neo network to tackle all of these challenges and ensure better integration.
Rosetta is a newly developed 100% open source project, supported by the leading crypto exchange Coinbase, which works towards standardizing the process for interacting and deploying with blockchain networks. Its implementation will allow crypto exchanges, crypto wallets, and block explorers to complete integration with other networks by spending less time and effort on communication and other network technicalities. In short, Rosetta will function as a framework for blockchain based wallets, exchanges, and other such platforms, aimed towards promoting adoption and collaboration.