In the 2017 bull season, Ethereum step came from Neo, one of the most demanded cryptocurrencies and described as “China’s Ethereum.”

Neo founder Da Hongfei announced at an event in Hong Kong that they will develop a sidechain to support Ethereum-based dapps and strengthen the interoperability features of the N3 main network.

It will both include features and use GAS

The relevant test network is expected to be ready by the end of the year, while the main network will be launched shortly thereafter. This sidechain will include key features of Neo, including a consensus mechanism called “Delegated Byzantine Fault Tolerance.” The network’s own token, GAS, will also be used for governance and domain functionality.

The aim is to provide a secure platform free from many negative effects, including MEV attacks, the statement said.

NEO, whose first name was AntShares, was launched in 2014. Known as one of the oldest cryptocurrency projects and smart contract platforms, NEO’s main network has been running stably since 2016.

The NEO token was also one of the most demanded cryptocurrencies by investors, especially during the 2017 bull season and reached up to $200.

Apart from NEO, XRP Ledger, Cardano and Horizen are among the blockchains that develop EVM-compatible sidechains.

After the announcement, NEO raised more than 13 percent. The cryptocurrency is trading at around $9 at the time of writing.

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