Neo cryptocurrency review: Neo is a smart contract platform that enables all sorts of financial contracts and even third-party distributed applications to be developed on top of it, much like Ethereum.
Neo was developed by Shanghai-based developer Erik Zhang. Although often referred to as the Ethereum of China, Neo has many differences and improvements over Ethereum, including more advanced technology and improved scalability.
The currency was rebranded from Antshares in 2017 and is a fork of another Chinese cryptocurrency called QTUM.
Just like Ethereum, the Neo blockchain runs smart contracts. These are applications that run exactly as programmed without downtime, censorship, fraud or third-party interference.
Neo is a blockchain platform and cryptocurrency which enables the development of digital assets and smart contracts.
Neo was founded by Da Hongfei, a Chinese programmer. Following the Antshares rebrand, Neo launched a second ICO in October 2016 that raised $4.5 million (60m NEO tokens) which was used to fund the development of the project.
NEO is the currency that fuels this blockchain. You can use it like you would use any other cryptocurrency: to buy goods and services or trade it for other currencies (both other cryptocurrencies or traditional currency like US dollars).
NEO was created with two different token types: NEO & GAS. The NEO token represents ownership of the NEO blockchain. NEO cannot be subdivided, and 100 million NEO tokens were created at its inception. The GAS token represents the right to use the blockchain for transactions and smart contracts, as well as block creation rewards for bookkeeping nodes. GAS tokens are generated on an ongoing basis as new blocks are added to the blockchain, which will occur until approximately 22 years from now when 100 million GAS tokens have been produced.
Neo is a smart economy platform (formerly Antshares) and means new and young in Greek. The project was founded in 2014 and open sourced on Github in June 2015. Neo coin uses a Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism which allows the network to be more efficient than other blockchain solutions with high transaction rates. The dBFT is an augmented version of the Proof of Stake system allowing up to 10,000 transactions per second.
Neo coin can support multiple programming languages by using a universal virtual machine that has the potential to compete with Ethereum as a platform for decentralized applications (dApps). With the release of its dBFT 2.0, Neo coin is able to support more complex transactions on its Neo coin blockchain than other blockchains can.
Neo coin also focuses on digital assets, identity management and a smart contract system. Digital asset registration and exchange takes place on the chain and the Neo ID scheme allows for users to access their assets from anywhere at any time, which will be convenient for users travelling around the world or anyone who wants to be able to access their money from anywhere.
Neo is an open source cryptocurrency and blockchain platform that is supported by the Chinese government. The currency is also called Chinese Ethereum or China’s Ethereum for its similarities with the well-known cryptocurrency. Neo is a smart contracts blockchain platform similar to Ethereum, but it has some advantages over it, including several different programming languages that can be used to write smart contracts. Neo supports common programming languages such as C
Today, we’ll be reviewing NEO, a cryptocurrency that recently changed its name from Antshares (hence the acronym).
NEO is a cryptocurrency that was founded in China. It is a very similar to Ethereum, both in its concept and technology. The main difference is that NEO plans to integrate with China’s economy and businesses.
The purpose of NEO is to create an open-source, decentralized platform for smart contracts that will allow the creation of digital assets and digital identities. In fact, it’s already been dubbed “China’s Ethereum” because of how much it resembles the popular cryptocurrency.
NEO has many advantages over other cryptocurrencies: it’s supported by the Chinese government, it has a large social media following, it has a high trading volume, and it’s highly liquid. However, there are also some red flags: there are only 100 million NEO coins in circulation at the moment, which means that there won’t be enough coins to support the demand for them once the project takes off.
The NEO smart economy is a vision of the future where digitized payments, identities, and assets come together to form a new economy that’s powered by blockchain technology. NEO is the only one that can do this because it’s the only blockchain in China with a direct line to the Chinese government.
In this article we’re going to go through what NEO does, how it works, and why it could be a great investment opportunity.
The Smart Economy
NEO is sometimes referred to as “China’s Ethereum” or “Ethereum’s killer.” But NEO has more in common with Stratis. Here’s why:
Both platforms allow developers to create dApps on their blockchain using C
NEO has been a strong performer this year, rising from less than $1 per coin to over $100 per coin in August. Built by Da Hongfei, it is known as the “Ethereum of China” and has a great chance of becoming the first smart economy platform once its decentralized applications (dApps) are fully developed.
NEO is an open source platform that was founded in 2014. It uses blockchain technology and digital identities to digitize assets and automate the management of digital assets using smart contracts.
NEO uses a unique blockchain algorithm similar to Ethereum’s model. This allows users to quickly write up their own smart contract scripts. While Bitcoin pioneered the use of blockchain technology back in 2009, NEO takes it a step further. In addition to digitizing assets, it strives to “convert traditional assets into digital ones using smart contracts.”