Coin Review: NEO
China has been one of the world leaders in innovation and technology, especially in cryptocurrency. Cryptocurrency is becoming much more widely adapted and growing faster in China. One of its greatest products is NEO, deemed China’s “smart economy.” It is a cryptocurrency and blockchain platform that allows the storing and exchange of digital assets; it is also used build a network of decentralized applications. All of the digitized assets have verified ownership because of the decentralized blockchain; they can also be traded and sold through smart contracts. Another goal of NEO is to move towards and improve upon digital identities so that they comply with government regulations.
The cryptocurrency was created in 2014 (formerly known as “AntShares” until June 2017) and has since created enormous buzz and gained tremendous recognition within the cryptocurrency and blockchain communities. Its all-time high price reached almost $197 USD in mid-January, and was one of the most prosperous coins at the time because the price remained stable, and even increased, in the short period of time that Bitcoin was beginning to fall from its historic highs.
One of NEO’s main selling points is its smart contract system. Users can use their existing programming language knowledge to create smart contracts, without having to learn new ones; this is what makes it more user-friendly than Ethereum. Many notable cryptocurrency projects operate on the NEO blockchain, such as DeepBrainChain, which had remarkable growth in early 2018.
Another prominent feature of NEO is that when someone buys it, that person also receives GAS. Those who own NEO have voting rights in the NEO ecosystem, and they also receive GAS as a dividend. GAS is necessary for running smart contracts or other decentralized applications on NEO’s network. In simple terms, consider it a bonus and an incentive to hold your NEO: the more NEO you buy, the more GAS you earn.
NEO’s technology is extremely advanced, and many people in the cryptocurrency community are praising it as one of the best projects out there. Historically, it has had steady growth and has not dropped as dramatically and some of the other projects or altcoins. Many speculate that it could be the cryptocurrency of the future and that it will withstand the test of time because of its purpose and technology. The future will tell; but for now, NEO is here to stay.