Neo (NEO) reveals the development of a new sidechain compatible with the Ethereum Virtual Machine (EVM), triggering a surge in the price of NEO. At the same time, the new DeFi project BorroeFinance ($ROE) revamps fundraising methods in the decentralized finance landscape.
Let’s find out which of these top crypto coins investors should set their eyes on in 2023.
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Neo Reveals Solution To MEV Attacks
In a report on October 27, Da Hongfei, the founder of Neo (NEO), announced a significant landmark achieved within the Neo network.
According to Hongfei, the team at Neo is developing a new sidechain congruous with the Ethereum Virtual Machine (EVM) to repel future exploits by the Miner Extractable Value (MEV). With the new sidechain, Neo (NEO) will become immune to attacks and manipulations from the MEV.
MEV is one of many prevailing cyber threats in the DeFi industry that targets vulnerable projects. Besides staving off MEV-related attacks, the new sidechain will also combat any potential harm against the Neo network. This measure will safeguard the information of Neo users and the details of transactions executed.
Further, the new sidechain will mimic the Neo N3 stack, possessing its core features. It will also feature a dBFT consensus mechanism, NeoVM, plus a subsidiary version of NEO. This development is the key to granting Neo users a smooth experience within the ecosystem.
Following the announcement, NEO gained 12.04% from $8.31 to $9.34 between October 27 and October 28.
With the new sidechain set to go live before the end of 2023, experts believe this could see NEO hit $20 before the year ends. This prediction suggests a potential 54.45% increase in the price of NEO, making NEO a good crypto to invest in before December 2023.
BorroeFinance Remodels Web3 Borrowing
One of the problems faced in the financial world is access to funding programs and ease of borrowing. This issue has led many fintechs and startups to close down their operations before having their big breaks. However, BorroeFinance ($ROE) seeks to solve this issue through its innovative approach to finance.
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BorroeFinance is a decentralized finance project with a focus on creating a channel of fund distribution among Web3 users and businesses. Businesses raise funds by minting non-fungible tokens on the BorroeFinance platform. These NFTs represent their future earnings or outstanding invoices.
BorroeFinance ($ROE) resolves the issue of traditional finance and borrowing through its advanced technologies and approaches. The platform adapts easily to the ever-evolving digital landscape due to its technical capabilities. It also incorporates the angles of Web3 in terms of value sharing, transparency, and decentralization.
As a blockchain-based project, BorroeFinance is represented by its native token, $ROE. $ROE is a Polygon-compatible token with deflationary characteristics. Users of BorroeFinance use $ROE when conducting activities on the platform.
BorroeFinance is presently in the second stage of its presale cycle, with $ROE trading at $0.015. From here, $ROE is expected to surge 167% to $0.040 at the end of the presale. The use cases of BorroeFinance and price projection of $ROE make it one of the top DeFi projects worth investing in in 2023.
Learn more about BorroeFinance ($ROE) here:
Visit BorroeFinance Presale | Join The Telegram Group | Follow BorroeFinance on Twitter
Source: https://www.analyticsinsight.net/neo-announces-new-developments-borroefinance-reinvents-web3-borrowing-this-2023/