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NEO Now Most Active Decentralized App Service

NewEconoLabs, a popular community of developers located in China supporting open source projects, launched a specialized name service for NEO providing .neo names for the NEO blockchain on the 9th of October. During the very first week since the launch, a line-up of nine thousand purchases was achieved in the form of auctions. These types of domains can eventually take over the current lengthy, uneven strings bound to current public blockchain keys, facilitating the way for NEO towards further utility in real-life applications.


 

Users access the auction by logging onto the website. In order to start bidding for the domain names, links are sent to their digital wallets. The popular name service has its own token as well, called NNC. Users are able to gain part of the GAS which is spent on the new domains by holding the NNC token.

At this point in time, the value of GAS is about $5.10. Some of the top domain names that have been sold through the auction are wallet.neo, crypto.neo, and google.neo for 1035, 1026, and 318 GAS, respectively.

10,000 Active Domains

Founder of NewEconoLans Liu Yongxin explained how the total amount of domain names currently active has reached 10,000 in only a few days since the launch took place. Right now this new service has become the most used decentralized App on the NEO network.

Furthermore, O3 Labs, a company based in Japan, announced its full support for the new NEO addresses on the 15th of October, whether through mobile or desktop wallets. This announcement will most likely increase the number of day-to-day users on the dApp.

At present, NEO has reached number 14 on the ALT100 list of the biggest crypto companies as NEO has gone up to $16.63, which means a coin market cap of $1.08 billion.

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