NEO is a cryptocurrency and blockchain platform. It does, however, have many other applications which differentiate NEO from other digital currencies. It is aimed to allow web developers to build decentralized applications (dApps) and smart contracts. Additionally, NEO puts a focus on scalability. Its native token is the NEO coin, which is not divisible. Therefore, NEO generates GAS coin, which is used to pay transaction fees that stem from the NEO network. Several coding languages are supported by the NEO platform, which adds value to the vast array of developers who are using it.
In 2014, Da Hongfei and Erik Zhang founded NEO. It was the first Chinese digital currency. At the time of its launch, NEO was called AntShares. It wasn’t until after they founded blockchain consulting service, Onchain, in 2017 that they decided to rebrand AntShares as NEO. Onchain, however, remained as the parent company to NEO. This is notable due to NEO’s initial governance procedures.
Onchain is a blockchain research and development company based in Shanghai, China. Hongfei and Zhang founded the company after a positive response from Antshares. In 2016, Onchain began forging relationships with high profile corporations. Additionally, they joined Hyperledger, which focuses on practical blockchain technologies for businesses. Onchain’s hand in the architecture of NEO remains an essential part of the company in 2018.
Similar to company stocks, NEO cannot be divided. To solve this, NEO created a second cryptocurrency called GAS, which is divisible by up to 0.00000001. Users can earn GAS coin by keeping NEO in their coin wallets. Gas is can be used on the NEO network just as Ether is used on the Ethereum network. Roughly 100 million GAS tokens will be released over the next two decades (from 2018).
NEO uses a Byzantine Fault Tolerance consensus system to validate transactions on the NEO network. This mechanism allows NEO to engage in 10 thousand transactions per second.
NEO’s suite of tools assists developers in helping build smart contracts and decentralized applications in an efficient and scalable manner. For example, NEO uses the NEP5 Communications Standard, which provides a templated workflow for developers. X.509 enables developers to connect tokens to real-world identities. This helps to comply with regulatory requirements.
In September of 2018, NEO had a market cap of $1,193,762,606 and ranked in the top fifteen on the cryptocurrency market cap charts. Performing a price analysis on NEO shows us the extreme spikes it had during the first three months of 2018. The price of NEO coin peaked at an all-time high of $196.85 in January but had flopped back down to a mere $46.84 by the time April rolled around.
There are a few different ways to purchase NEO coin.
First, NEO can be bought directly with fiat currencies (USD, EUR, etc.). Another way to buy NEO is by trading other cryptocurrencies for it on an exchange, like Binance. Finally, a less user-friendly method is to purchase NEO with cash via peer-to-peer. Many do not recommend this method since there is no official peer-to-peer service for which NEO can be bought and sold. NEO’s GAS coin can also be traded on certain exchanges, including Binance, KuCoin, and Gate.io. Several NEO wallets are commonly used, including the Ledger Nano S and NEON wallet.
Reference coins.live for a live NEO price chart and helpful historical data.
Source: The Merkle - 1 day ago
Making money with cryptocurrencies will usually involve using different methods and combining efforts. Diversification is critical in this industry, both in terms of the assets being held and the money making strategies alike. The following six currencies offer enticing arbitrage opportunities today, as there is some good money to be made in the process. NEO […]
Source: The Merkle - 2 days ago
It is a very difficult time for the altcoin industry, with little to no improvements in sight. As the year 2018 continues to grow more bearish, one has to wonder what will come next. For NEO, an altcoin which is still very popular but also a bit overlooked, the current short-term price trends do not […]
Source: Crypto Insider - 2 days ago
Ethereum (ETH) and NEO are two major cryptocurrency platforms that allow developers to build and deploy automated business logic via smart contracts and enterprise-level decentralized applications (dApps). Both these platforms have been implemented using blockchain technology and can be used to launch initial coin offerings (ICOs). In this introductory article, we will go over briefly […]
Source: Live Bitcoin News - 1 week ago
Every cryptocurrency project is only as strong as its network. Service nodes play a major role of importance in this regard. For NEO, a project gaining a lot of attention lately, things are not looking too great. Researchers confirm the existence of a major bug which can allow criminals to steal wallet funds. NEO Node...
Source: The Merkle - 1 week ago
All cryptocurrency ecosystems need to keep growing and evolving at all times. In the case of NEO, its infrastructure continues to improve. With the development of new Dapps, it is evident the momentum needs to be maintained. NEO+ONE may help to keep things trucking along, as this platform primarily focuses on getting more people interesting […]
|Bitcoin Gold (BTG)||$11.43||3.05%|
|USD Coin (USDC)||$1.02177||0.00%|
|Paxos Standard Token (PAX)||$1.00931||0.00%|