Neo will launch EVM-compatible and MEV-resistant sidechains by the end of the year

At the "HK Web3 Evolution" event co-organized by Neo and Hong Kong Cyberport, Web3 Labs and Invest Hong Kong, Neo founder Da Hongfei announced that Neo is creating a side chain that is resistant to MEV attacks and compatible with EVM. The side chain (name to be determined) will inherit Neo N3’s solid economic model and dBFT consensus mechanism. It is understood that the side chain is under development and is expected to be released by the end of 2023. Da Hongfei further introduced that the goal of Neo's move is to resist malicious MEV attacks to balance the competitive relationship between users in DeFi and DApp, and create a safe and fair competitive environment to benefit users, developers and stakeholders. . From a technical implementation perspective, the innovation of this side chain lies in transaction packaging and proxy contracts: by packaging transactions, the side chain will allow users to encrypt transaction content and metadata, effectively hiding sensitive information that potential attackers cannot obtain; proxy Contracts enhance user privacy by hiding the user’s identity, disguising the true sender of the transaction and introducing anonymity to prevent information misuse.