Neo was launched in 2014, it is highly compared to Eutherium which has gained immense popularity due to its smart contracts and multiuse applications. The battle of developing the best cryptocurrency is simply getting interesting where developers and trams from worldwide are engaged in this task. Neo was known as Antshares previously and has now developed its strong position in the Altcoin market.
It is a popular currency of China which is known as Chinese Etherium and is expected to become the next big cryptocurrency in upcoming years.
Here is all you need to know about NEO, the Chinese currency which has gained a lot of attraction.
What is NEO?
NEO is a cryptocurreny which is decentralized and is used for trading, purchases and transfers. It uses a unique and smart algorithm which improves blockchain performance and smart contracts. It is a currency which ensures more applications in financial and business purposes rather than just being a currency used for trading.
It is a next generation economy platform which provides digital and worldwide uses. Also, it eliminates a loophole which banishes the chances of Neo to get hacked.
Some points about NEO:
Market Capital: $1.1 B
Current price: $15.73
Total supply: 100M
NEO, more than just a digital currency:
There are some highlighting points which make NEO a powerful currency. NEO includes all the following systems and features.
The smart contracts are created using NEO contracts which provides a high performance and scalable environment and blends the technologies like JAVA, C3 and many more.
This is a peer-to-peer storage facility which allows storage in a decentralized manner.
A system which allows transactions and operations with different block chains.
This is a special algorithm which makes NEO more secure by barring the nodes with malicious or defective intensions.
This cryptocurrency is more than a digital currency and serves as a full fledged system which can be used as a public cloud and for digital applications. Now is made to develop a product for future. The transactions are speedier, the algorithm is stronger and the applications are unlimited which makes it a powerful currency!
NEO is completely mined which means that just the additional and extra coins are available for the users to store in their wallets. The coins were distributed among people through a crowdfunding event and through sale.
From 100M NEO’s 50 M NEO’s were mined to the users through crowdfunding while the other 50M were lockout with the developers, council systems, and different projects of NEO.
Team behind NEO:
The team of NEO consists of some smart and well experienced people. The founder is Da Hongfei and the main developer is ZhangZhengwen. There are other professionals for community operations and developers with experience in cryptocurrency backgrounds.
Uses of NEO:
As a digital currency:
The first and important use of it is as a digital currency. For transactions, trades, exchanges, selling and purchasing NEO is a digital currency which can be used.
For Digital assets:
NEO also sets a target to convert all the traditional or physical assets into digital assets with the help of smart cards. These digital assets will be completely secured and protected by the certification.
For creating Digital Identities and DApps:
With smart digital features, NEO will be able to create digital identities for institutions, individuals through technologies like finger prints, voice recognitions and much more. DApps focuses on digital applications like smart contracts, decentralized exchanges and more flexible transactions.
The smart contracts with NEO are more flexible. You don’t need to learn other smart contract languages for digital uses. Java, C#, .NET etc are compatible through which you can develop your code.
Winning and risky factors you must know before investing in NEO:
- Technology is always going to grow and get rich. It is a currency which provides applications par digital currencies which makes it quite reliable
- The brand new version is highly robust and secure
- Prices of the cryptocurrency are comparatively very economic than other famous coins
- There are multiple applications where NEO will be used for purchases, selling and different trades
- It is one of the top highest-volume currencies
The digital currencies face a huge growth in no time and also undergo sudden fall in the prices. All the cryptocurrencies are risky to invest in, but the thing is, the winning points of these currencies must be strong enough!
If you consider the technological view, NEO is stronger than any other cryptocurrency in the market. It is expected to grab a great growth in upcoming years. Reaching the price of $52 from $6 is a big milestone achieved by this currency overnight. The potential of this currency is quite high and thus, investing in NEO can turn into a profitable affair.post