NEO Smart Economy Causes Blockchain Disruption of Horizontal and Vertical Boundaries in Conventional World

Fibo Quantum

NEO Smart Economy has been recently sharing about how the blockchain in the digital economy has been disrupting the horizontal and vertical boundaries in the conventional world.

Several economic models have been disrupted due to blockchain. Particularly, public block chains that are open source and hybrid or decentralized. NEO claims it is a transition from the industrial economy to a smart economy.

Public blockchain typically onboard millions of developers successfully contributing to lot of innovation.  Innovations about how organizations are built, how financial services are offered and the way in which the community and employees collaborate and communicate with one another.  This providing for a decentralized open-source mechanics.

Several capitalism based issues dominated by Big Technology Firms and Big Banks have been solved.  The disruptive nature of Decentralized Finance (DeFi) is just one of them.

Sydney Ifergan, the Crypto Expert Tweeted:  “Whether about the NEO Smart Economy or any other crypto driven economy disruption of several economic models is coming either immediately or every soon.”

NEO3 Exception Handling Mechanism

Exceptions are abnormal events which happen while a program is running. For instance when “divide by 0 overflow, array index over bounds, nonexistent contract call” and more. A program which has been designed well provides for handling exceptions.  Thus, the program will not block or cause unexpected results due to exceptions.

Before the coming of exceptions it was handled by using If-else.  This used to be a troublesome handling mechanism.  The basic principle followed now is the try and catch mechanism to handle exceptions. Blockchain is also disrupting big data monopolization.

Most of the disruptions are not set to happen overnight; however, the innovations created will cause an exponential impact with the passing of time based on the governance models.  Thus creating multi-stakeholder capitalism.

In the road to NEO3 state root feature, recently there was a discussion about Merkle Patricia tries (MPT) and how has been implemented on Neo3 to provide for a strong storage consistency.

Neo News recently tweeted: “Nash (@nashsocial) recently announced that its API keys generated by secure multi-party computation (MPC) are now open for public testing. Accompanying the announcement is an updated version of the TypeScript SDK with MPC support.”

Further, NeoLogin has come up with publish-subscribe system which is based on the WebSockets for the $NEO blockchain.  The PubSub system permits easy monitoring and access to useful information like smart contract events and other messages which are sent through the P2P network.