Neo partners with HashKey Cloud to advance Web3 innovation

Neo has announced that blockchain staking platform HashKey Cloud has joined the Neo Council. The 21-member Council, voted in by holders of the NEO token, is key to maintaining the overall health of the Neo blockchain.

HashKey Cloud (formerly HashQuark) has also forged a strategic alliance with Neo, with the partnership expected to drive innovation across Web3 and the NEO ecosystem.

HashKey to boost Neo blockchain operations

According to today’s announcement, HashKey Cloud will tap into its Web3 infrastructure to bolster Neo's blockchain ecosystem through staking services and node operations. The platform will also contribute to NEO’s security and scalability, while also helping bring “diversity to the Neo community.”

Leo LI, CEO of HashKey Cloud, commented:

Also commenting on the partnership and HashKey Cloud’s joining of the Neo Council was Da Hongfei, the founder of Neo. He noted the collaboration aligns with Neo’s commitment to a diverse and decentralised blockchain ecosystem.

Adjustments to the network fees and election of oracle nodes are some of the critical roles the Neo Council plays. The top seven members of the Council also serve as consensus nodes and are responsible for processing network transactions.

The Council members include Binance Staking, Everstake, InfoStone, GhostMarket, and NeoSPCC, COZ and Flamingo Finance.

Neo is ranked the 74th largest cryptocurrency project by market cap. At the time of writing, it had a market cap of $897 million. Its tokens, NEO and GAS, recently spiked in value as the blockchain hinted at plans for EVM-compatible sidechains.