Neo X TestNet v0.4.0 Upgrade

JUN

23

Event date

Monday 23 June 2025, UTC

Event description

The v0.4.0 upgrade introduces a preview of Zero-Knowledge (ZK)-based Distributed Key Generation (DKG) verification, a cutting-edge feature that boosts privacy and efficiency using zk-SNARKs technology (Neo, 2025). It also adds ZK-based DKG execution at the dBFT level, a new NeoXEthSig fork for EthereumPoS-compatible block signatures, and anti-MEV (Miner Extractable Value) optimizations to protect users from transaction manipulation. This upgrade, detailed on Neo’s official Medium post (Neo, 2025), aims to strengthen Neo’s position as a leader in the smart economy. Developers can expect a smoother transition thanks to compatibility with TestNet v0.3.2 and MainNet v0.2.2, with support available via the Neo Discord community.

Recent News

Over the past three months, Neo has been gaining traction. The project’s focus on ZK technology aligns with industry trends, as zero-knowledge proofs are increasingly adopted to address blockchain scalability and privacy challenges (Chainlink, 2022). Additionally, Neo’s current price of $5.67 USD reflects growing investor interest, supported by a 24-hour trading volume of $28.7 million (CoinMarketCap, 2025). This momentum underscores the upgrade’s timely relevance.

Future Plans

Looking ahead, Neo is migrating to its N3 version, touted as the most powerful iteration yet, with features like voter rewards and enhanced interoperability (neo.org, 2025). The roadmap hints at further ZK integrations and expanded dApp support, positioning Neo to compete with top layer-1 blockchains like Ethereum and Solana.

Onchain Data

Specific onchain metrics for Neo X TestNet are not publicly detailed yet, as it remains in the testing phase. However, Neo’s MainNet has shown resilience with stable operation for over four years, and the upcoming upgrade is expected to drive increased developer activity (neo.org, 2025). Keep an eye on transaction volumes post-upgrade for real-time impact.

Community Sentiment

X reactions to the announcement have been overwhelmingly positive. Users like @Charismatic_Doe and @EffangaEdiomo praised the ZK features and anti-MEV upgrades, with comments like “Massive upgrade for Neo X TestNet! ” and “Awesome Great job team!!!!” (X, 2025). The buzz suggests strong community support, though some, like @Osimancover, are asking about joining the Neo community, indicating a need for better onboarding.

Additional Insights

This upgrade comes as the crypto market sees renewed interest in privacy-focused blockchains, with ZK tech gaining traction (Traders Union, 2025). Neo’s move could attract developers and investors, especially given its early adoption of Delegated Byzantine Fault Tolerance (dBFT), a unique consensus mechanism (neo.org, 2025). Competitors like Polygon are also exploring ZK rollups, but Neo’s focus on a full-stack ecosystem gives it an edge.

Risk Disclaimer

As with any upgrade, potential risks like short-term network instability or price volatility may occur. Always conduct your own research before investing.

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Neo Foundation Financial Reports Release

The Neo Foundation will release the financial reports for Neo Foundation (NF) and Neo Global Development (NGD) on March 31, 2026. This event is categorized as a team update and is hosted by the Neo Foundation. The reports will likely detail the financial status and expenditures of both Neo Foundation and NGD, providing transparency to the community and stakeholders. No specific format or location details were provided in the announcement, but participants can follow the release through Neo's official channels, such as their X (Twitter) account. Recent News There have been no major updates or changes related to the financial reports in the last three months. The Neo project continues its development and ecosystem growth with steady progress and community engagement, but no additional announcements have been made specific to these reports. Future Plans The Neo Foundation plans to maintain transparency through regular financial disclosures moving forward. The release of these financial reports aligns with their commitment to openness and accountability. Future reports may coincide with other milestone updates in the Neo ecosystem. Community Sentiment Neutral — The community appears interested in the transparency that financial reports bring but has not expressed significant enthusiasm or concern in public forums or social media. Comments generally reflect expectation for detailed insights from the reports. Risk Disclaimer This event is primarily a financial disclosure and is unlikely to cause immediate price volatility; however, changes in reported financial status could impact sentiment. Sources used https://x.com/Neo_Blockchain/status/2006311686664495599

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