NEO is a blockchain platform for digitizing assets and managing them using smart contracts. The goal is to create a distributed network with a “smart” economy. Experts often refer to it to be the “Ethereum killer.” In addition, it is China’s first decentralized open-source blockchain platform.
It combines many of the sought-after features needed by a modern blockchain: high compatibility, native oracles, smart contracts, decentralized storage, support for different programming languages, and much more.
NEO Tokens
NEO tokens are not divided and provide holders with management rights, including voting on changes to network parameters, etc. However, The total emission is 100 million coins, which were initially created in the genesis block. NeoGas is used as fuel for smart contracts on the Neo blockchain. Meanwhile, the total gas emission is also 100 million and will be achieved in more than twenty years.
Advantages of The Blockchain
- To create smart contracts based on NEO, you do not need to learn a new programming language. The system supports a number of well-known languages.
- dBFT is a consensus mechanism where users earn gas by storing the coins in their wallets. Assuming the price does not decrease, this represents passive income.
- Transactions without any commissions.
- A successful ICO without misunderstandings, greater community awareness and a good level of trust.
- Onchain is the main supporter of it, which also works with NASA, Alibaba, Microsoft China, Hyperledger, Fosun Group.
The History Behind It
The initial release took place in February 2014, but then the platform was called AntShares. The history of NEO itself began in June 2017 after rebranding. In March 2018, Onchain distributed 1 Ontology Token (ONT) for every 5 NEO coins held in a member’s wallet. This was the result of a vote to modernize the system.
The blockchain announced a new testnet update via X platform (formerly twitter), and Steven Liu, Head of Development at NEO, will give further details about these updates.
Set your reminder for the Neo X testnet update!
Tune in the small talk with @rendongliu to get more information.
🔗 https://t.co/9qCiZMIENo
⏰ Jan 26, 10:00 AM UTC pic.twitter.com/c2NIWQrnrQ— Neo Smart Economy (@Neo_Blockchain) January 26, 2024
Is It Worth Buying?
At the time of writing, NEO’s price is $10.94, however, and many crypto experts consider it as one of the best Altcoins to invest in 2024. The “Chinese Ether” is in demand today by several well-known companies, including Alibaba, Microsoft and dozens of little-known organizations, but it’s very popular in Asia.
From experts point of view, the NEO project is promising and could be a good option for organizing payment for goods or services. On the other hand, also developers fell in love with the platform for its accessibility, thanks to the ability to choose a convenient programming language.
Among the weaknesses, many note a tendency towards centralization due to the fact that the project belongs to the Onchain company. However, it successfully holds its own in its price segment. If the development of the site continues, it may have good long-term prospects.
