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About NEO

“Wake up, NEO…”

NEO is a next-generation platform for the smart economy of the future. Although commonly called the “Chinese Ethereum,” NEO is so much more.

Launched in 2017 and founded by Da Hongfei, NEO is a blockchain-based network supporting decentralized commerce, identity, messaging, assets, contracts, and a whole host of other functions. NEO hopes to be the de facto compliant blockchain-based network in the world, uniting global assets and functions under one overarching idea: the decentralized NEO network. As such, NEO supports its own dApps and boasts it own particular blockchain technology which it has invented all on its own.

Where NEO differs from Ethereum is that rather than be written in its own language like Solidity is for Ethereum, NEO is instead intelligible in C++, Javascript, Python, and so on thus making it ultra-accessible to the everyday developer. NEO also utilizes its own consensus mechanism it pioneered called Delegated Byzantine Fault Tolerance (dBFT). This makes chain splits impossible, lowering costs, and functions similar to proof-of-stake (PoS) systems where all network participants must agree before transactions and changes are made.

The center of the NEO currency is the NEO currency which functions much like a “stock” which produces NEOGAS to be used as fees on the network. Simply holding NEO in your wallet produces NEOGAS over time until the maximum supply of NEOGAS is reached.

There is much to be excited about when it comes to NEO, but the development team itself has announced that they will be upgrading their entire platform to NEO 3.0 in the near future. The next installment of NEO will provide higher transaction speeds, increased network stability, more intuitive APIs for smart contracts, and completely redesign many aspects of NEO’s core modules. Although NEO is currently indivisible, the NEO 3.0 upgrade will allow fractional amounts of NEO to be owned and traded.

ICO Price

Before June 2017, NEO was called Antshares until they publicly rebranded in Beijing. The ICO for Antshares was held in two phases, one in 2015 to private investors and another ICO phase in 2016. The ICO price for these two token offerings was just $0.036.

Key Features

Due to its unique consensus algorithm, NEO boasts many key features that set it apart from other cryptocurrencies. Its current circulating supply is 65,000,000 NEO with a total supply of 100,000,000 NEO.

You can view more details on NEO in their published whitepaper.

  • Focuses on compliance, integrating digital identity with its vision of the “future smart economy.”
  • A demonstrable, working product live right now.
  • Able to be interpolated across many different coding languages.
  • Boasts their own unique consensus algorithm that can withstand forked chains and 51% attacks.
  • An growing ecosystems of decentralized applications currently running on it.
  • Holding NEO generates NEOGAS.
  • Sending NEO does not require any costs.
  • Upgrades to NEO 3.0 will make cross-chain interoperability, file storage, and quantum-resistance, along with many other everyday functions, possible on a mass scale.

About the Team

NEO has a vibrant team of developers who have helped to make NEO a reality and who are pushing NEO into its next 3.0 phase. Da Hongfei is the founder of the operations and the main figurehead of the NEO ecosystem, although he keeps a quiet approach to social media to not influence perceptions. Erik Zhang is the Co-Founder of NEO and was responsible for creating the fundamental architecture behind the NEO project.

NEO also has its own open-source development community called the City of Zion which develops better, more-intuitive wallets and other programs for everyday NEO users. Together, City of Zion and the NEO core team make NEO a reality, giving it a significant advantage over other blockchain projects.

Price History

At the time of writing, NEO is valued at $5.66 with a total market capitalization of $368 million. It has experienced a serious price collapse since January 2018 from an all-time-high of around $161.

Website and Social Media

NEO boasts a strong social media presence across the board. The NEO team is most active on Twitter, Reddit, and Telegram. Although not officially affiliated with the NEO team, NEO News Today is the leading source on the blockchain’s most current developments.

Be sure to look through the official NEO website for further updates on the NEO blockchain platform.

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