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NEO Token Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of NEO Token.
NEO, previously known as Antshares, has been explained as China’s version of Ethereum. The main purpose of NEO is to build a network of Dapps that is scalable.
What Is NEO Smart Economy?
NEO is the rebranded structure of Antshares, which has long been observed as China’s Ethereum. The ecology rotates around the use of NEO Token as a currency.
Calling NEO the “Ethereum of China” is disliked by NEO-supporters and Ethereum-supporters. Ethereum-supports because they are loyal to Ethereum, and NEO-supporters because NEO actually wants to be a superior version of Ethereum. Ethereum changed the blockchain world by introducing smart contracts. NEO also has smart contracts that function in a very similar way to Ethereum’s, but they also have a number of other features (such as the delegated Byzantine Fault Tolerance consensus mechanism).
The major advantage of NEO compared to Ethereum is that NEO fills the safety holes Ethereum does not fill. The notorious hack of The DAO has left an everlasting impression of Ethereum’s safety among the cryptocommunity members. NEO intends to push the blockchain community forward through fixing these safety holes. NEO also has a particular method in place that protects the blockchain from quantum computers.
The NEO-blockchain was first developed in 2014, and it’s been open source since 2015. Back then, its name was Antshares. Anyhow, Antshares rebranded to NEO in July 2017, and then launched NEO Network 2.0 in August 2017. Nowadays, the company explains itself as “China’s first ever open source blockchain.”
How Does NEO Smart Economy Work?
NEO works in a parallel manner to any other decentralized ledger (blockchain). It introduces many exclusive aspects to the blockchain community, including P2P networking, dBFT consensus, and digital certificates. All of which, the developers claim, make it a perfect foundation for the new and increasing economy.
As the NEO.org website indicates, NEO applies exclusive technologies adopted for future industry demand. One of the key aspects of NEO is that its underlying design supports multiple kinds of digital assets. Moreover, users can register, transfer, and trade at will over NEO.