Neo, the open-source blockchain platform, plans to develop a new Ethereum Virtual Machine (EVM)-compatible sidechain to expand its capabilities in the field of decentralized finance (DeFi). This sidechain will be fully interoperable with the Neo N3 mainnet, retaining key Neo features such as the dBFT consensus mechanism, enabling faster transactions, better scalability, and greater fairness. Developers will be able to create smart contracts in their preferred programming language using the Neo-VM multi-language development environment. To address security concerns, Neo sidechains will allow users to encrypt transaction content and metadata, providing advanced security measures against potential attacks, including Miner Extractable Value (MEV) attacks. Sidechains will also support the use of proxy contracts to enhance privacy protection. Neo aims to create a safer and fairer trading environment through these measures.
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