We’re bringing the spotlight to another amazing cryptocurrency (and its platform), NEO! Is this coin an innovative landmark in the cryptocurrency hemisphere? Or a bust? Let us find out more below!
What Makes NEO a Standout Cryptocurrency
Straight out of China comes an impressive cryptocurrency that can definitely disrupt all sorts of industries. Headlined by an impressive group of developers, and integrating and making the most out of the Ethereum blockchain, this is one fine platform that truly deserves more visibility.
We’ll be discussing more on what makes NEO a standout – let us break it down into several digestible nuggets!
Awesome NEO Features Worth Knowing More About
First up, here are some of the innovative features that NEO brings to the cryptocurrency plate:
Multiple Support of Different Assets – No Problem!
Bypassing the hassle of working on singular assets, this cryptocurrency can work with several different kinds of assets simultaneously.
Further expanding the concept of smart contracts, trades or transactions done on the NEO cryptocurrency platform is on a peer-to-peer basis (no more lags on waiting for third party approvals or confirmations!).
Fees Involved with this Coin!
The developers have decided that no fees should be involved in the platform. Should there ever be a need for fees to be charged, then it would be a decision that every party with a stake on the platform should all agree upon.
Indivisibility – An Amazing Feat!
You know how it is with cryptocurrency – almost everything can be broken up into minuscule digits. But for NEO, transactions are done in whole shares – it’s part of their strategy to involve an easier way to learn more about the coin and platform!
Deep Dive into the NEO World!
Now that we’ve tackled some of the key innovations that NEO has, let us now head on over to learning more about this cryptocurrency’s history.
It all began last 2014, when a project dubbed as AntShares (ANT) was launched. Utilizing the blockchain’s potential to digitize assets, this project went on full steam ahead a year later, with its ICO raising around $4.5 million (distribution would be 22.5 million ANS tokens for investors; 17.5 million ANS tokens for distribution).
It actually was market demand that pushed the team to launch and grow the project into what we call NEO today. The business-to-business potential that the blockchain can streamline was deemed to be profitable – so much so that AntShares actually created another company to address a blockchain that can universally connect businesses. Called Onchain, this platform is similar to the AntShares framework, but with key and notable differences:
- Onchain – implemented to create and focus on blockchain architecture that can be seamlessly replicated for specific uses.
- AntShares – a general and public venture into blockchain digital assets.
Considering the successful growth, the developers then decided to rebrand the network into NEO – and it did not come as a surprise, with massive ROI for investors by almost 30,000% (!) by 2017.
Pegged as China’s very own Ethereum, NEO is definitely a landmark model in the cryptocurrency scene! And bright things are definitely in store – NEO is backed by the Chinese government, so things are surely shaking up in China!
Who knows, we just may see the beginning (we might actually be in one right now) of a legitimate smart economy!
The NEO Team: Awesome and Solid Cryptocurrency Players
Let us now find out more about the key personnel behind this massive and exciting cryptocurrency venture:
The man main itself, NEO’s founder has been with it since its AntShare beginnings. Considering his wide expertise in blockchain tech, he is a surefire pioneer with a global vision in mind!
As the core developer behind NEO’s blockchain, his technical expertise is a trusted and reliable force in bringing open source development projects into reality. Handling multiple projects, he is the go-to guy in making NEO’s functions happen.
As the platform grows, more key persons are included in the NEO network. And with the success that this platform has shown, we can all be sure that it’ll have a bright and promising future.
Let’s Talk More About the NEO Endgame
Considering the main features mentioned above, let us now discuss the particular solutions that NEO can address (and will definitely deliver):
The main push for the NEO network. By digitizing assets, the platform can both quickly and safely hold and transfer information in the best way possible. The assets found on the platform can be connected to real objects, by backing it up with the digital identity (more on this below) facet that the network incorporates. Given the wide backing by crypto experts (and the Chinese government itself), the assets are also legally protected.
To break it down even further, digital assets can be categorized into two types:
These are private assets that are recorded and protected in a storage area of a smart contract. As such, these assets can only be accessed by a certain/approved individuals.
A public asset that can be identified by all clients/individuals and smart contracts.
The possibilities of integrating these digital assets are many. And by splitting it into private and public types, certain industry-specific needs can be addressed.
Brought to light by Ethereum, expounded by NEO. This platform turns the dial up for smart contracts, by creating their own independent smart contract system. Dubbed as the NeoContract, this helpful feature further streamlines transactions and the like done on the NEO platform. As such, it’s faster, more reliable, and most importantly, really user friendly.
By having digital identity accounts on the platform, NEO efficiently streamlines real and online transactions onto one really fast and safe network. It’s a really simple application with so much potential in store! It also sidesteps the anonymity issue and security – perhaps multiple levels of validation is far better (and trusted) than dealing with someone (or something) that you do not know at all!
Know More About the Coin!
Let us now learn more about the actually NEO cryptocurrency! Similar to the Ethereum setup, NEO has two tokens that work on its platform:
As the main token you can buy on the NEO network, the NEO token is essentially what gives clients the reputation/credential to vote on changes done on the platform. Think of it as shares – the more you have on stake, the higher your level of influence you have when making overall decisions.
This is the token used for the decentralized apps and services done on the platform. Serving as the fuel of the NEO platform, NeoGas are rewarded for active clients. Unlike NEO, NeoGas is divisible.
Looks like ETH, but with a ready and more visible network at use!
Let’s Set Up NEO!
Start off your NEO journey with our simple guide!
All About the NEO Wallet
Considering NEO’s goal in developing a really nice and smart economy, the platform has invested in several ways to store cryptocurrency. Let us find out some below:
This is the official desktop wallet provided by NEO.
Another official desktop wallet offered by NEO. Since this does not have a graphical interface, this desktop wallet is meant for advanced cryptocurrency users.
Meant to be used with a Ledger Nano S, this desktop wallet allows access via means of a recovery file or a private key. This Ledger Nano S integration is recommended by NEO.
Another light desktop wallet (like the Morpheus Wallet above), this simple wallet does not require a complete download of the blockchain.
The current build of this mobile wallet supports Android 5 and above versions.
An Android wallet that comes with extra security layers (such as a PIN code access and Touch ID feature).
Works like a conventional cryptocurrency wallet, but cannot manage NeoGas claims.
Ledger Nano S
A hardware wallet that works in collaboration with the Morpheus desktop wallet.
An open source offline wallet that both stores and receives NEO and NeoGas.
A light wallet that allows local storage.
Working both as an exchange and a wallet, this option is only available in Chinese.
Bonus Info: Rising and Exciting Crypto Progress with NEO 3.0 Announcement!
We just can’t help but get really excited! The NEO team recently announced an update – NEO 3.0! Scheduled for next year, we’re bound to experience these sparkling changes:
- The NEO 3.0 upgrade will efficiently transform the entire platform to cater for larger enterprises.
- The upgrade will offer faster and stabler functions.
- Smart contracts will have expanded APIs.
- The core modules of the NEO platform will be redesigned for a better experience for all.
Considering the changes, the most important perk for all will be the transactions themselves. With the upgrade, everyone can experience warp-speed transactions!
Of course, it is still too early to tell if the upgrade will indeed be a great benefit for all. But the idea’s there – and considering NEO’s great track record of making things happen, this NEO 3.0 upgrade is something that all cryptocurrency enthusiasts should look forward to.
Great Cryptocurrency Beginnings with NEO!
The future is indeed bright with NEO! Here’s to an open and smart economy with this cryptocurrency!