** Introduction **
In 2014, Da Hongfei and Erik Zhang establish a company called Shanghai Onchain in Shanghai. It quickly becomes a company developing modern financial technologies, and less than two years later it is placed on the list of the 50 best FinTech companies in China. With the creation of Onchain, an idea is created for a non-profit project, which is NEO, which will be created for the community, by the community, developing blockchain technology known from Bitcoin, as well as digital identity and digital goods. In June 2015, the full source code was published on GitHub
In September 2015, the first version of white paper was published. The mainnet blockchain was launched on October 17, 2016, with 100 million NEO units excavated (then ANS at the time)
NEO is a decentralized and distributed protocol whose task is to convert real resources into digital ones. Thanks to this cryptocurrency and its system, you can register and make: deposits, transfers, trading and settlements in peer-to-peer networks. Until August 2017, the presented cryptocurrency was known under the name Antshares.
Founders of AntShares, Da Hongfei and Erik Zhang City of Zion International Developers Community
** Idea **
The AntShares idea emerged in response to problems caused by the Chinese Digital Signature Act 2005, which enabled people to digitally sign legal documents. As part of the NEO cryptocurrency, special digital agreements are used to record digital asset transfers. Digital currency is generated by electronic contracts and acts as a data base used for general registration of assets and titles, such as shares, receivables, securities, financial contracts, credit points, bills of exchange or currencies. It is also the first Chinese project based on an open source blockchain.
** ** Competing projects
NEO is colloquially called the "Chinese Ethereum" because of offering similar functions and aspiring to be a multi-functional blockchain platform. Moreover, other projects related to the smart contract industry are Zilliqa (ZIL), EOS (EOS)
** Application of the NEO coin **
Thanks to blockchain technology used in the cryptocurrency and the NEO system, it is possible to decentralize the digitization of resources that are trusted, traceable, transparent, and no intermediaries participate in their trading. Thanks to NEO, users can register, sell and distribute many different types of resources. Digital identity makes it possible to prove the link between digital assets and those in the real world. It is also worth adding that all assets that have been registered as part of a digital identity are legally protected, so this is a very favorable matter.
The NEO cryptocurrency is divided into two types of digital resources. One of them is global assets and the other is contractual assets. Global assets can be registered in the system and identified by clients and smart contracts. Contract assets must in turn be recognized by the customer and are stored in the private warehouse of the smart contract.
As in the case of ETH, so-called NEO networks operate in the so-called GAS. With the help of GAS, a fee is charged in the NEO network (for the transaction, for the computing power used for the smart contract), and all projects that will be created in the future in this network (not yet implemented) are paid. GAS is also used to deposit smart contracts in the main NEO network.
So, contrary to popular belief, GAS is a utility token, while NEO ultimately has less value in the network. Sending and receiving transactions on the NEO blockchain is currently free, but over time small fees will be introduced, payable by GAS users. The NEO token is indivisible, the minimum unit we can send is 1. GAS is divisible to 10 million decimal part. And it is it that will ultimately be paid for everything in the rich NEO ecosystem (for intelligent contracts, digital identity, virtual goods, etc.).
** ** Mining
Despite the fact that NEO is called "Chinese Ethereum", the way it works is fundamentally different. Both networks are different primarily in terms of the consensus algorithm - Ethereum (still) is based on Proof of Work, which means that thousands of miners acting as nodes are responsible for the network stability and approval of new transaction blocks. In NEO, however, there is no mining process, and the consensus is concluded on the principles of Proof of Stake, based on 7 consensus nodes, belonging to the so-called NEO advice.From July, the first node independent of the project team was launched, run by the informal organization City of Zion, which brings together independent developers and NEO enthusiasts.
The NEO structure does not mean full centralization, but the high scalability and high speed of transaction confirmation are paid with a significant compromise in decentralization.
** ** Summary
NEO In addition to the functionality and constantly expanded application (in which a large, international community is involved, an example is the use of NEO to send almost free, completely encrypted messages between participants, on the network) The main advantage of NEO is the possibility of using several programming languages - C #, VB .Net, F #, Java, Kotlin. In the case of Ethereum, there is only one language: Solidity, which developers must specifically learn before any programming on the Ethereum network.
NEO reached its highest peak (ATH) on January 15, 2018 at a price of 196,85 USD and capitalization exceeding USD 12 billion. At the same time, NEO is one of the leading projects that suffered the most as a result of the downward trend in the cryptocurrency market since mid-January, losing over 90% of its value since the January peaks. It is worth adding that in January NEO was in the top ten of the highest capitalized cryptocurrency projects.
- Mobile: *
NEO APP *:
NEO - GUI:
NEO - CLI:
- Online *
** Hardware wallet **
Ledger Nano S https://shop.ledger.com/?r=fb95c418f05d
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