NEO is associate open supply cryptocurrency being developed by Onchain, a corporation primarily based in Shanghai. one amongst solely a number of cryptocurrencies that support good contracts, several ask neo because the “Chinese Ethereum” (kinda looks like associate exotic drug). neo started development in 2014, a year before Ethereum was proclaimed in 2015.
NEO is extraordinarily common in China. The co-founder Dong HongFei and his team recently modified the project's name to neo. It accustomed be referred to as Antshares. once they modified the name they modified plenty of technical school likewise. They moved focus to good contracts.
NEO could be a platform within which users will issue and trade assets. neo has been rebranded from the initial 'Antshares'. NEO tokenizes proofs of possession of an plus and not the plus itself, so taking into consideration all of the legal complications and obligations which will go together with the transfer of shares, equity and assets.
NEO represent associate possession of the neo platform and permits users to shop for neo (ANC) and to vote on protocol changes on the neo blockchain.
Market summary
Current worth - $20.28
Market Cap - $1,013,965,000
Volume (24h) - $21,108,200
Circulating provide - 50,000,000 NEO
Total supply - 100,000,000 NEO
Pros
With all of this interest in good contracts, it's a serious bonus for neo to own sturdy development during this field. They even have had success in developing digital assets that being their focus in 2016 once they were referred to as Antshares.
Cons
Currently, most are fighting to be root chain. Now, there may be many root chains. i do not assume there must be only one going forward however there's not getting to be twenty root chains within the future. Most firms and services can conceive to use one and adopt it. this implies that modern may be thrown to the aspect if nobody decides to make thereon.
NEO has solid fundamentals. It’s technology is considerably higher than Ethereum’s and like Ethereum, it enjoys sturdy company and government support. neo is strikingly absent from Western markets whereas adoption in China is robust. though Onchain appears to be reluctant to pursue Western markets at the instant, its coming rebranding event can in all probability modification that. As of at once there's an absence of English promoting materials for neo.
NEO has proof-of-stake
The two tradeable assets on the neo network are neo shares and neo coins. Owning neo shares offers you partial possession of the blockchain that permits you to vote on blockchain governance matters. NEO coins, on the opposite arduous, are what powers the blockchain. They’re required for things like issue transactions and running good contracts. there's an infinite provide of neo coins however the coins also are perpetually being destroyed because the blockchain chugs on.
Owning neo shares won't solely enable you to influence the long run of neo, the blockchain additionally pays neo coins as dividends. As a decent heuristic, a thousand neo shares generates around zero.4 neo coins daily. Dividends are paid out for owning any positive range of neo shares.
Proof-of-stake incentivizes neo share homeowners to carry on to their stakes rather than collaborating in speculation. This reduces worth volatility and could be a crucial necessity for thought adoption of neo.
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