NEO has made what it describes as a “major step towards decentralization” with the addition of KPN as a mainnet consensus node, it stated in a blog post today.
The post from NEO in part reads: “KPN was officially elected a consensus node running on NEO MainNet at 6:13:12 on October 20, 2018 (GMT+8)”
Five of the seven nodes are now controlled by NEO Foundation, with developer community CoZ the sixth and, up until now, the only non-NEO hosted node, and KPN the seventh.
KPN has been on the NEO testnet since July this year. The mainnet news follows the release of the NEO consensus node page for voting on new nodes. The page shows “a visual display of applicant info for “on-chain governance” and “off-chain governance””.
There are currently 75 dapps on the NEO platform.
According to NEO’s roadmap it is committed to “fully democratise” consensus node elections sometime in 2019.
The stability that KPN was able to achieve in operating the node enabled NEO to bring forward the election said the project. NEO’s testnet also has nodes hosted by Swisscom Blockchain and City of Zion.
NEO jumped nearly 1% on the developments, trading at $16.93, but still below the week’s high of $17.52 seen on 18 October.
There is strong support to be found for the crypto asset at 15.30 (dashed purple line in chart below).
The China-based blockchain dapp platform reached an all-time high of $162 at the end of January this year.
Dutch telecoms company KPN operates in both landline and mobile and is a giant in its home market with annual revenue of €8 billion.
NEO is focused on gaining adoption for its blockchain platform among large industrial concerns and the KPN involvement is its most notable success to date.
The lack of a partner in China remains a glaring anomaly.
KPN’s venture capital arm KPN Ventures mentions the sectors it looks to invest in and blockchain is not highlighted.
The KPN Ventures site’s about section includes the following:
“We focus on growth sectors connected to our Telecom & IT activities including:
Internet of Things (IOT)
Over the top (OTT) & mobile services
Data & analytics”
KPN Ventures is not invested in NEO.
Gary has been writing about cryptocurrencies since 2013 and currently works as the cryptocurrency analyst at interactive investor, the UK’s second-largest online investment platform. Gary contributes for Coin Intelligence News in a personal capacity and none of his commentary should be considered investment advice. Gary is the winner of the ADVFN International Financial Awards 2018 Cryptocurrency Writer of the Year. Contact Gary on twitter at: @gary_mcfarlane