In a recent announcement, NewEconoLabs (NEL) announced a partnership between NEO Global Capital (NGC) and Fenbushi Capital to create the Neo’s Name Service Project (NNS) domain name service.
NNS is a domain name registration service that is decentralized, its code is publicly available, and it runs on the NEO blockchain. Its main purpose is to replace long meaningless character sets, such as wallet addresses, which are quite difficult to remember. Addresses will be replaced with a word or meaningful phrase, and in the future, using NNS, users will be able to access wallets or smart contracts.
NEO Global Capital is a venture capital firm that focuses on investing in blockchain projects. She became one of the key investors in such projects as Zilliqa, Ontology, Switcheo, Moonlight, Point-to-Point payment system, Trinity and many others.
As for Fenbushi Capital, the company was established in 2015, and it is also a venture capital firm with a reputation for being a major investor in blockchain projects. The firm has invested more than $50 million in the enterprise blockchain, and also launched NEO consensus on a test version of the blockchain.
The previously mentioned partnership will allow users to create .neo domains, which will be used instead of private keys to obtain the transfer address.
As for NewEconoLab, it is a development community that was founded last December in China. Its main goal is to attract talent to the blockchain space and help grow the NEO ecosystem.
NEO is currently ranked 11th on coinmarketcap.com, trading at $65.70 at the time of writing. The token peaked at $196 on January 16th.
According to https://ethereumworldnews.com
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