NEO Council Monthly Report – October
https://neo.org/blog/details/3016I always write this monthly report with big excitement, but this time with a bit more excitement than usual. We have had plenty events and progress during October, some of them marking important milestones.
First of all, Red Pulse held the first token sale ever on the NEO blockchain. As a first token sale, we are very happy with the stability of the NEO blockchain while performing with reasonable transaction speed. We had blocks with a few thousand transactions and average speed of 28 tx / second. We never reached full load, and are looking forward to more network traffic to prove our full performance.
The first token sale also helped us to identify areas to improve. Firstly, there was confusion about the start of the second phase, since time was communicated in clock time and not block time. We ask both users and projects to pay attention to this detail for future development and usage of smart contracts; the block time is the time previous block was created +15 seconds. Secondly, the refund process was far from optimal. We are implementing a solution for instant refund to make it a better experience.
The second milestone is the unlocked funding. The 50 million owned by NEO Council is now available and can be used to fund our ecosystem. Of these 50 million, 35 million will stay in the contract and 15 million will be available following the plans in the whitepaper
...then after 2weeks it drop to 16$..
