NEO cryptocurrency
The rapidly growing NEO cryptocurrency appeared in mid-2017 as a result of the rebranding of the former, almost unknown Antshares (ANS), founded by the blockchain company OnChain in 2014. If ANS was focused on digital assets and the main task was to create a new financial system that unites the virtual and real economy, then its rebranding contributed to the company’s shift of focus to smart contacts, which (according to the developers) are much better than their competitors and support :
- decentralized commerce;
- digitalization of assets;
- digital identification.
Goals and objectives of developers< /h2>
NEO is the first Chinese non-profit open source blockchain project, launched by programmer Da Hongfei. The development team set out to create a new model of economic relations, turning the traditional economy into a “smart economy” (Smart Economy) with three components:
- a platform for smart contacts (NeoContract); < li>digital assets;
- digital identification based on the blockchain platform.
NEO is often called the Chinese Ethereum and is positioned as a “public cloud”. However, there is a significant difference between NEO and Ethereum. The latter only supports the proprietary Solidity programming language, which may be a deal breaker for some developers wanting to get into the system. NEO works with well-known programming languages (F#, C#, VB.Net, Kotlin, etc.). NEO's main partners are the giants Microsoft and Alibaba.
“Our vision is to make Onchain a truly universal Blockchain framework. Using various plugins, our framework can be applied to a public chain, a consortium chain, or even a private chain. ;Our cross-chain adapter module, which is currently being developed, creates interoperability between these different purposes .” ~ Da HongFei, co-founder of NEO and OnChain.
Features of cryptocurrency
The NEO platform uses NeoVM to operate, which allows you to quickly launch and execute contracts. Maintaining digital certificates ensures reliable protection of digitized assets, and smart contacts allow programmers to develop smart contracts using popular programming languages C#, Java and Go.
The system is highly reliable because it implements the improved DBFT protocol, which effectively protects it from many cyber-attacks. NEO allows you to digitize and change various assets (real estate, gold, vehicles, etc.) without the participation of a third party. There is no single control center.
Transaction fees are charged in GAS (the intra-system currency), which is automatically awarded to NEO holders.
Pros and cons of cryptocurrency
A detailed review of the NEO cryptocurrency allows us to highlight the main advantages of this token:
- excellent technical capabilities;
- limited quantity (no more than 100 000 000 coins);
- ease of writing smart contracts;
- reliability;
- ease of mining;
- lack of commissions and government control.
In addition to the advantages, the NEO system also has several disadvantages.
Firstly, there is no anonymity when exchanging digital assets. All transactions are transparent and open.
Secondly, the platform is pseudo-centralized. OnChain can track any transaction. However, the company is working to resolve controversial issues.
Buying NEO
Until recently, it was possible to buy NEO cryptocurrency only on two cryptocurrency exchanges in China - KuCoin and Binance. But today, due to the rapidly growing popularity of the token, the possibilities for purchasing it have expanded significantly. The list of exchanges has expanded to Cryptopia, HitBtc, Bitfinex, Bittrex and Livecoin.net. Depending on the exchange, purchases are made in dollars, bitcoins, ethereum and litecoins.
It is most profitable to make a purchase on Binance, which is the leader in trading volume with NEO, provides many bonuses and does not charge fees for token withdrawal.
Some cryptocurrency exchangers have also started working with NEO. If you are interested in where to buy NEO cryptocurrency at the best rates, you can use the bestchange.ru aggregator.
Storing the NEO token
For users of the system, the urgent question is where to store the NEO cryptocurrency. Today there are several versions of wallets available:
- NEON (for OSX, Linux and Windows);
- NEO GUI (for Windows-7 and newer versions);
- CLI (for Windows, Linux);
- NEO APP (for Android 4.0.3 and later);
- Wallet;
- Tracker.
The simplest, most convenient and functional option for storing tokens is NEON, created by third-party providers. You can log into your account from any PC by entering your personal key.
The last two crypto wallets allow you to temporarily store only a small amount of coins.
The prospects of NEO
The prospects for the NEO cryptocurrency are very high, and the future of the token is bright.
Firstly, the NEO platform is already very convenient today. But the developers don’t stop there, offering new innovative solutions.
Secondly, giant corporations (Microsoft, Alibaba, Wings, etc.) invest their money in NEO.
Thirdly, the company is seriously aimed at legalizing cryptocurrency, so it is possible that NEO could become the official payment system in China, which is one of the world's largest cryptocurrency markets.
NEO cryptocurrency is growing at a rapid pace today. At the end of January 2018, the cost of the coin exceeded $140. And this is not the limit! Analysts and traders are betting that the price of the token will rise to $300-$400.
Conclusion
NEO cryptocurrency is a good option for deposits. Of course, today the token rate is still being adjusted, so in the near future there may be a 20-30% drop in price. And this time will be an excellent opportunity to purchase promising cryptocurrency in order to sell it when the price reaches its peak level. And it will happen in 1-2 years, if not later, because NEO confidently remains in the global ranking of tokens.
