Neo 3.0 2020 - Migrating to the new chain

(CryptoUK1) #1

Neo 3.0 mainnet is planned for Q2 next year and will launch as a new blockchain.

How will locked Nex tokens and active stakes be migrated to the new chain, while keeping everything exactly as is? Will it be a simple process for both the team and users or more complicated?

I know it’s just been announced and still a long way out, but just trying to understand and grasp how it might work.

9 Likes
(Mao Mao) #2

Although im not technical person, im thinking all tokens will migrate over which does not affect token holders…

just like now Ethereum have their upgrades done…we dont see all other erc-20 tokens doing anything.

2 Likes
(Chi Ral) #3

How will NEO 3.0 affect the price of NEO? I believe the price of NEX is closely linked to the price of NEO at any given time.

(Mao Mao) #4

Trades run off the blockchain. Meaning it doesnt run on NEO. Only the staking runs on NEO blockchain.

However i think of course if NEO does well, it could have some effect on nash since the founders have relations to NEO, still.

(Laurens) #5

I don’t think NEX price will be linked to NEO. In my opinion it will solely depend on the companies success and revenue. And on the overall crypto markets.

2 Likes
(Cammofunk) #6

Ya you’re right, in the past they claimed that they could move to another chain if needed.

1 Like
(CryptoUK1) #7

Just thinking about it, it should be relatively straightforward as the new chain will have the same keys and addresses, right?

The part I was struggling to understand is how our previously staked tokens would be locked on the new chain without us choosing to do so, but I suppose the migration will maintain the status of staked tokens and when they will be unlocked.