NEO is a blockchain platform, often described as China’s Ethereum. NEO is also an Ethereum-like token extraction and decentralized platform but has significant technical differences and advantages.
An attempt to bring NEO blockchain together with Chinese program developers, businesses, financial institutions and even the Chinese state. NEO tokens and decentralized applications can do everything Ethereum does, while allowing for the use of multiple programming languages in addition to its competitor.
Unlike NEO, Ethereum and Bitcoin, it is not a crypto currency mining. Initially planned as 100 million units, half of this number is already on the market, while the other half is kept by the NEO Foundation for managing development and is being released periodically.
Unlike Gene Ethereum and Bitcoin, there is no transaction fee on the NEO network. Smart contracts use GAS tokens as fuel and these GAS fees are given to people holding NEO. The more assets that are registered in the NEO block chain, the more GAS winners get. NEO coins can be transferred only in whole numbers, unlike other coins. So it is not possible to send NEO in fractions such as 0.5.
A crypto currency that started the NEO way with a valuation of $ 0.60 and saw $ 180. Currently, around $ 40 is traded. Binance, Bittrex, Kucoin, Bitfinex can be bought and traded from various stock exchanges. Some exchanges, such as Binance, also pay GAS monthly based on the amount of NEO held. Also, those who keep NEO in their wallet NEON Wallet can also get GAS.
While most coins are based on “Proof of Work” or “Proof of Stake getiren concepts, which enable block chains to negotiate transactions and histories, NEO is also different. NEO uses a consensus mechanism called eleg Delegated Byzantine Fault Tolerance ve, which provides more efficient scaling and security.
NEO used the name Antshares before changing its brand name and gained immense popularity and momentum after this process.
The concept of smart economy is important in understanding NEO. When we say smart economy, we are talking about an economic model in which contracts are written into code and can be processed automatically.
This technology can now be used in any transaction performed by a bank or a traditional economic organization. When doing business in the NEO block chain, transactions can achieve the desired level of transparency as well as security through a compromise-based network. There is no need for mutual trust in the smart economy. The smart contract protects the other party’s rights if circumstances do not materialize or malice.
As a result, cultural and linguistic barriers can be eliminated thanks to the code, while transactions are done more fairly. Thanks to NEO’s smart economy, costs are also reduced.
In the NEO smart economy, all real assets can be digitized through decentralized applications. Organizations such as stock exchanges and leasing agencies can benefit from blockchain as it is not expensive to use. With no or no transaction fees, the speed also makes NEO an attractive platform.
Where is the GAS in the NEO Equation?
GAS, a token and fuel of NEO, was launched in quantities close to NEO. GAS encourages investors to hire NEOs and increases over the amount and time of NEO held. GAS will have produced 100 million units in 2039 and is worth around half and one third of the NEO; it is also likely to exceed the NEO value in the future due to its divisibility.
In addition to benefits, GAS also works as the Ether of the Ethereum network. The GAS NEO is positioned as a necessity to start smart contracts on the NEO network or to activate other decentralized applications. In addition, NEO cannot be divided into fractions, while GAS and other tokens in the NEO system can be split.
Major NEO Tokens
The first token in the NEO network was Red-Pulse. Red-Pulse is a Hong Kong-based company conducting market research in China for Westerners. Operating as a subscription-based company prior to its ICOs, the company’s tokens have the RPX abbreviation.
Other important NEO tokens include Ontology, DeepBrain Chain, Qlink, Trinity, Master Contract Token and Zeepin. Of these, especially ontology had a very good output and in recent months has increased up to $ 10. The NEO tokens are usually listed first on the Kucoin exchange. In addition, NEO-specific decentralized stock market projects such as Switcheo have recently been in demand.
The time and in particular the attitudes and attitudes of the Chinese government seem to determine the fate of the NEO, as the NEO, as the Ethereum, does in its own network. The NEO, which is constantly in the top 10 among the crypto currencies, is expected to exceed $ 200 in case of a positive wind for the crypto money market, especially for Bitcoin, and a bullish market similar to last year.
The NEO will be able to connect the Chinese economy to the blockchain in the long term as it aims, and time will show whether it will make a giant leap as Ethereum does.