There’s a powerful, new kid on the block called Neo (NEO). Formerly known as Antshares, Neo is a new contender and exceptionally fresh cryptocurrency to compete with the very best. The Altcoin market has been buzzing of late, with Neo on everyone’s lips. Slick and polished, this cryptocurrency aims high, and is reaching unprecedented levels. With the value of one NEO token recently scaled the heights to reach an all time high of $52 each, giving investors a timely boost. Everyone is sitting up and taking notice of Neo these days, and good news travels fast! Neo is of Chinese origin, despite a ban by the Chinese authorities on new cryptocurrency ICOs. Since then, the price has corrected itself to around $35, with the current price hovering around $15 per token, and current market capitalisation is around $1.1 billion.
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Neo is sometimes referred to as the Chinese Ethereum, or even more extreme; the Ethereum Killer! Since Neo is the very first decentralised cryptocurrency, blockchain platform launched in China, which is open sourced. Expectations were understandably sky high, and the reality meets those high standards. Neo has an additional token besides the NEO one. That is the GAS, which was previously referred to as ANC-Antcoins. In effect, Neo promotes itself as a distributed network for the smart economy, which is a commendable concept.
Neo converts traditional assets into digital assets utilising smart contracts. These are decentralised, and protected by legislation. They will use digital certificates on the blockchain, in turn, these will guarantee trust among users and cement Neo’s positive reputation.
Neo will have a digital identity. Thus enables the creation of identity information of organisations, individuals, and entities, all in electronic form. Security is bolstered by multi-factor authentication mechanisms. These include facial recognition, fingerprints, voice recognition, and SMS.
Neo’s smart contacts platform is a revolutionary system that accepts several computer languages at once, such as C# and Java. Using NEO’s Universal Lightweight Virtual Machine (NeoVM), creates advantages including high certainty, high concurrency, and high scalability for the smart contracts based on the blockchain. Neo is continually evolving and improving, developing better and more mature tools and techniques. These DApps will essentially support development and future improvements.
With a hard cap of 100 million tokens, which will be used to develop the blockchain, improvements and changes in network management, Neo aims to be exclusive and valuable. The Neo currency is not divisible and the unit of a token is always one. Acquiring Neo is not that straightforward, however. They cannot be purchased ‘over the counter’, but can be exchanged with other coins such as; BTC, LTC, or ETH. Players will need to supply their address where the Neo tokens can be sent, and some Altcoins to buy the Neo tokens with. Expect to hear more about Neo in coming months, 2019 is the year of Neo (NEO). Don’t get left behind!
