What is NEO?
NEO is a “non-profit community-based blockchain project that utilises blockchain technology and digital identity to digitise assets, to automate the management of digital assets using smart contracts, and to realise a “smart economy” with a distributed network.” It is formerly known as Antshares and also known as ‘Ethereum of China’.
Neo was developed by Shanghai-based blockchain R&D company “OnChain”. Onchain was founded by CEO Da Hongfei and CTO Erik Zhang. Research on Neo started around 2014. In 2016, Onchain was listed in the Top 50 Fintech Company in China by KPMG. The project was initially named as Antshares, and in June 2017, it was rebranded to NEO.
How does it work?
NEO is an idea which is very similar to Ethereum where it is much more than a simple cryptocurrency. In fact, it is almost an ecosystem by itself where people can trade digital assets like Bitcoin or real-world assets freely and directly, without any central authority of third-party intervention. It allows users to convert traditional assets (like Gold) and convert them into digital assets. Using Smart Contracts 2.0, a concept popularised by Ethereum, the users can do quick transactions.
NEO coins are a currency of the network and are used to own the share of a blockchain. NEO coins are also used to earn dividends for holding the blockchain.
Instead of Proof of Work (POW) or Proof of Stake (POS), both of which are resource hungry, NEO utilises Dual Byzantine Fault Tolerance (dBFT) algorithm to confirm transactions.
Features of NEO coin
A program is deterministic if it gives the same output to a given input every single time. NEO’s mission is much more focused and realisable. Whereas, Ethereum seems to be trying to promote as many ICOs as possible NEO is racing ahead to build a digital currency platform where real-world assets can be traded securely and fairly. NEO has partnerships with companies such as Alibaba, Microsoft, and WINGS. NEO, unlike Ethereum, also has a hard cap on supply.
How to buy NEO coin?
Bittrex and Binance is a better place to get NEO coin. You can trade Bitcoin and exchange it for NEO. First, purchase the BTC. Then choose the best exchange to convert BTC to NEO or choose the one recommended by us. Provide your NEO wallet address. Transfer the amount to the address and wait for it to turn to NEO.
NEO Price Prediction 2018
NEO is promoted as Chinese Ethereum and sometimes as Ethereum Killer. It has been predicted the price of NEO would be 120 $ before Summer 2018. And it is not the optimistic one. As the Devs and technology under the NEO show perspectives for usage. The NEO price today is $99.70 and show the market cap value of $6,480,396,000. The volume is marked as $248,497,000 and current supply of 65,000,000 NEO. NEO altcoin news, best altcoin to mine, NEO altcoin price, NEO altcoin market cap, NEO altcoin exchanges, NEO Altcoins price today, NEO altcoin mining software.