NEO integrates with Coinbase’s Rosetta to launch ‘next-gen Internet’

neo to $100
neo to $100

A smart contracts and public blockchain platform Neo announced that it is integrating Rosetta into its platform. Rosetta is a Coinbase-led open-source project rolled out in June this year.

“Neo integrates with #Rosetta, an open-source project led by Coinbase,” the company revealed on its tweeter page.

The integration will enhance decentralized blockchain plan

In a blog post, Neo revealed that the integration will enhance the protocol process to build a blockchain decentralized economy for the future. Neo is called the decentralized integration Next-gen Internet or Web 3, as it will enable the company to expand particularly in the optimization of the smart contract system.

Neo feels the reliability of blockchain integrations will depend largely on extensive communication. According to the blog post, the company decided to name the new digital infrastructure Neo3, which can increase blockchain innovations and adoption within the mainstream.

Neo also revealed that the integration of Rosetta will speed up the release of the platform before the end of the year.

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Drawbacks identified in the current process

The Neo blockchain platform is taking up this project because it sees flaws in the current process of developing infrastructure for the Neo3 project. According to the company, the current features are time-consuming and complicated, as it requires developers to analyze blockchain networks extensively.

Neo continued that project developers are being delayed from working on the project because they spend lesser time working on the blockchain than they spend in answering questions from support queries for blockchain integration.

However, there is optimism on Rosetta to eventually help to overcome the drawbacks.

Cryptocurrency exchange Coinbase supports Rosetta, as the project enables other exchanges, blockchain networks, and wallets, in improving communication. Presently, Rosetta is used in the adoption, collaboration, and promotion of blockchain solutions.

It’s not certain how the contract will help Neo enter the main league of smart contract platforms, just like its closest rival Ethereum. Presently, Neo focuses on blockchain interoperability, as it is part of the Poly Network.

Rosetta will improve blockchain integration

Rosetta is a newly developed 100% open-source platform, which ensures the standardization of the blockchain interaction process. When implemented, it will allow the integration with other networks, allowing exchanges to spend less effort and time on communication and other technicalities of the network.

It will perform as the basis of further development of blockchain-based wallets and other platforms, aimed towards collaboration and promoting adoption. Neo hopes the integration will yield the benefits as intended.

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A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.