NEO review and how does it work? : Price Analyses

NEO review and how does it work?

NEO
NEO
$ 9.66
0.00094567 BTC
Marketcap
$ 683,140,716
Volume (24h)
$ 246,151,982
Circulating Supply
70,530,000 NEO
Total Supply
100,000,000 NEO
The coin had a change of 8.84% over the last seven days and decreased 1.46% over the last 24 hours. NEO‘s price changed 0.27% over the last hour.

The coin’s real-time price is $ 9.66

NEO started as a project named Antshares that went live in 2014. Since then, Antshares rebranded to NEO in 2017. NEO’s founders are Da Hongfei and Erik Zhang who reside in Shanghai, China.

The bulk of NEO’s development work is handled by a group of volunteers named the City of Zion (CoZ). All work done on the NEO blockchain by CoZ is MIT licensed and open source.

CoZ works closely with NEO Global Development (NGD) to expand the reach and usefulness of the ecosystem. In practical terms, this means that CoZ maintains a number of Github repositories that can help you create your own decentralized applications on the NEO blockchain.

You might even be invited to attend one of NEO’s hackathons. So far, we’ve seen events held in Taipei, Tokyo, Tbilisi, and other major cities.

 

You and anyone else is welcome to contribute to City of Zion but only a chosen few will be invited to become full members. If you were to apply to CoZ, you’d chosen based on your personality fit, work ethic, and your creative passion for realizing what the community calls the ‘Smart Economy.’

The Smart Economy is comprised of three tenets:

1.   Digital Assets: Traditional assets are to be converted into decentralized digital assets using smart contracts. 

2.   Digital Identity: NEO will allow the creation of electronic identity information for individuals, businesses and entities, to be accessible through multi-factor authentication systems involving voice-recognition, fingerprints, SMS and facial recognition.

3. Smart Contracts to expedite and expand the NEO ecosystem. NEO describes the contracts as “revolutionary” as they support most programming languages that are used today.

NEO will continue to support and incubate popular decentralized applications such as “smart funds” through the development of additional projects and ideas.

NEO’s Partnerships in the Smart Economy and beyond

Some notable co operations from within the NEO ecosystem include Asura World and Phantasma Chain, Cruzeo and nOS as well as Trinity Protocol and NewEconoLabs, Plus many more Projects built on NEO also extend their reach and influece beyond the blockchain and into the mainstream.

For example, the robo-advisor marketplace Alphacat announced a cooperation with UCLA’s Henry Samueli School of Engineering. While DeepBrain Chain, an AI computing platform, signed a one billion RMB deal with the Dragon AI Cloud Computing Center.

Something else that might surprise you about NEO is that you can earn passive income simply by holding it in your wallet.

You can earn GAS through a process known as staking. For staking to work, you first need to own NEO cryptocurrency — which can be purchased from most exchanges, and then download a compatible wallet such as the ones provided by NEON and O3.

What is dBFT and how does it work?

Without getting too technical, it’s important to note that NEO’s dBFT allows for a very high number of transactions. Its network configuration also works to protect it against hijacking attacks and interference from unwanted third parties.

NEO Wallet Software

Like all other cryptocurrencies, leaving a large amount of them at an exchange is a dangerous idea — even if you believe that your coins are safe.

For this reason, we recommend that you keep your coins secure in the O3 wallet.

The wallet is free to use and comes bundled with a ton of extra features to make your endeavor into crypto an enjoyable experience.

The wallet works for Windows, Mac, iOS and Android devices.

Getting started with NEO

A good place to hang out with other NEO developers and enthusiasts is the platform’s Discord channel. And checking out City of Zion’s Github too see the repositories under development.

As one of the most popular cryptocurrences on the market today, there’s no shortage of exchanges to buy NEO from.

However, we recommend that you use Changelly thanks to its intuitive user inteface, cheap fees, and instant buy and sell orders.

One advantage of using Changelly is that you can use fiat dollars for buying cryptocurrencies.

Use the widget below.

 

Claiming GAS in NEO wallet


Notable NEO Projects

There have been multiple projects that joined NEO since its inception. 

Some have fallen over — while others stood the test of time.

Below is a brief summary of some of the most important NEO blockchain projects:

The good thing about staking NEO is that the process is fully automatic. You simply leave your NEO in a compatible wallet such as NEON and watch as your GAS earnings start to drip in.

Dividends in GAS are also periodically paid out for work on the ecosystem. Each month contributors are paid a certain amount of GAS for their work by the City of Zion.

GAS is the platform’s utility token and is the primary means of remittance for both prizes and development work.

To earn GAS as a contributor, you could develop code, create artwork, write articles, and so on. Special competitions and prizes are also given away periodically.

NEON wallet interface

A free tool for calculating how much GAS you can earn by staking NEO can be accessed here.

Due to the number of talented programmers NEO has under its wing, we could say that it has a competitive advantage over its primary rival Ethereum and other dApp-focused chains.

So, let’s get to the bottom line. Why are blockchain and dApp developers deciding to use NEO over equally competitive chains?

NEO’s Support Languages

NEO presently supports six programming languages, namely:

  C#

  VB.Net

  F#

  Java

  Kotlin

  Elixir

  Python

And more coming soon.

These languages are ubiquitous in the development community; thereby accelerating the development time for new applications to be tested and released.

By comparison, Ethereum relies on a language named Solidity. This language was was custom-built for Ethereum, thus requiring developers to learn an entirely new programming language just for writing smart contracts, which forms the backbone of any decentralized application.

 

 

The problem of custom-based languages is that they create friction between ideas and their execution. The result is that we’re left with a fewer number of applications to choose from and at a much higher development cost for investors.

The other advantage that NEO has over Ethereum and other chains is its superior number of transactions per second.

NEO’s largest differentiating factor is that it can reportedly handle a maximum of 10,000 transactions per second, which circumvents the scaling issues of most chains and payment processors.

To put this number into perspective, NEO’s maximum number of transactions dwarf’s Ethereum’s maximum of 15, Bitcoin’s maximum of 7, and surpasses  Visa’s maximum of 6,500 transactions per second

NEO claims to out-scale its blockchain competitors thanks to its consensus algorithm named delegated Byzantine Fault Tolerance (dBFT).

What is dBFT and how does it work?

Without getting too technical, it’s important to note that NEO’s dBFT allows for a very high number of transactions. Its network configuration also works to protect it against hijacking attacks and interference from unwanted third parties.

NEO Wallet Software

Like all other cryptocurrencies, leaving a large amount of them at an exchange is a dangerous idea — even if you believe that your coins are safe.

For this reason, we recommend that you keep your coins secure in the O3 wallet.

The wallet is free to use and comes bundled with a ton of extra features to make your endeavor into crypto an enjoyable experience.

The wallet works for Windows, Mac, iOS and Android devices.

Getting started with NEO

A good place to hang out with other NEO developers and enthusiasts is the platform’s Discord channel. And checking out City of Zion’s Github too see the repositories under development.

As one of the most popular cryptocurrences on the market today, there’s no shortage of exchanges to buy NEO from.

However, we recommend that you use Changelly thanks to its intuitive user inteface, cheap fees, and instant buy and sell orders.

One advantage of using Changelly is that you can use fiat dollars for buying cryptocurrencies.

Use the widget below.

Matthew North

I have a passion for trading, behavioral finance, technology, travel, and writing. Contact: matthew@priceanalyses.com.