The essence of the cryptocurrency

The origins of the project NEO has happened in 2014. Selling tokens: October 1, 2015 and At that time, the project collected about 500 thousand$. Initially, the project was released under the name Antshares (ANS), and only in mid-2016. the result of the rebranding, the name was changed to NEO.

The first addition to the stock exchange: 9 September 2016.

Price: 1 NEO = 0.18 $ (now = 30$)

Essence: a platform for building decentralized applications.

Objective: the digitization of real assets and manage them using the blockchain and smart contracts, creating a “smart economy”.

Application: decentralized applications.

Compare NEO with Ethereum.

Comparing Ethereum and Neo

1) NEO uses an algorithm dBFT — Delegated Byzantine Fault Tolerant –the problem of the Byzantine generals. dBGT — modification PoS. The bottom line: the holders of the token NEO choose by voting delegates. The selected group of delegates at the dBFT algorithm reaches consensus and generates new blocks. The vote in the network occurs in real time. The network will be working as long as the attacker controls less than 1/3 of all delegates. NEO has solved this problem simply: to concentrate in their hands possession over more than 2/3 of the delegates that, of course, is the centralization of control. In this regard, and NEO is accused of centralization, but they want over time to allocate delegates for new projects on your blockchain.

2) NEO offers a wider selection of programming languages. A full list of available languages can be found in the Whitepaper

3) *what blackany applications are in the main chain of a NEO — information unconfirmed, accurate data could not be found

4) features of smart contracts NEO:

  • use GAS — “gas”. Gas at the NEO situation is a little similar to Ethereum. In Ethereum gas is a small part of the ether, i.e. the differences between ETH and Gas — no. NEO gas is a separate currency. It is used for all operations on the platform NEO: smart contracts, transactions transfer etc. to Get Gas you can just keeping tokens NEO on your personal wallet. Gas is proof of the bet, as the incentive that is created with each new block NEO. In the first year for unit 1 was issued 8 GAS, but with each subsequent year this number will decrease by 1 (2 year — 7 , third — 6, etc.) until all GAS is released. Like NEO, tokens have a limited GAS emissions in 100 million pieces;
  • to run smart contracts have NEO is Neo Virtual Machine (NeoVM). Different sources say that it is more optimized than Ethereum VM, but specific numbers for comparison there.

5) the Theoretical number of transactions per second NEO — 10,000 tps, but in practice comes out to about 1000tps. This is much more than Ethereum, but the gap could be reduced thanks to future updates Ethereum.

6) In the algorithm NEO laid a prohibition on any forks of the blockchain

7) All tokens NEO was released at the time of the launch of the network and the change in their number is prohibited by the algorithm of the blockchain. It should be noted that in the circulation are not all tokens: some of them frozen smart contract and every year will exempt a certain number of them.

The team and the company

Yes Hongwei

Yes Hongwei — founder. First, the project involved about 15 developers, today their number is much higher (the exact number is not).

Together with the NEO (at the time Antshares), Hongwei and Eric Jean created a subsidiary company — OnChain. The interests of NEO and OnChain match. System OnChain known as DNA (Decentralized Network Architecture), aimed at working with Chinese business and government. NEO acts as the basis of this system. Today it is quite a large company, they cooperate with Microsoft, Alibaba, Ministers of Japan in the field of economy and with the Chinese government.

Basic information

As 28.06.2018

Information about the token NEO

News background the coin is positive.

The project receives regular coverage from all sides: partnerships, participation in conferences and meetings. Besides, it is called “China air” that attracts and motivates users to learn about the project more. Don’t forget that NEO is working with the Chinese government, which is interested in its promotion and popularity.

Traded mainly on exchanges such: Binance(33%), CoinEgg(6%), OKEx(10%), Bitfinex(6%). Daily trading volume relative to other projects, low: 0,3–0,4% of the total capitalization.

Similar projects: Ethereum, NEO, ICON, Lisk, EOS.

Roadmap + Whitepaper + GitHub

Whitepaper/Documentation

Roadmap

The project has no roadmap, it is already completely ready for use.

Whitepaper

As with other projects, there is a detailed documentation of the network, its functions and components.

GitHub

Latest version: 2.5.0 NEO from December 2017. To repositories mainly occur small changes of code, bugs and optimizations. Changes make about 5 people.

That should add about NEO:

  • Technology NEOX version of NEO atomic swaps (exchange of tokens of different blockchains without intermediaries or exchanges). It also enables smart contracts interact with blockchains.
  • NEX future project NEO, is now under the ICO. Will perform the role of a bridge between the platform and NEOX NEO — will be a decentralized exchange. Note: Ethereum, this is not necessary, as all tokens erc20 ready to exchange.
  • NeoFS is a service that allows decentralized storage (e.g., Dropbox)
  • NEO is theoretically resistant to attacks using quantum computers. This is achieved by NeoQ is a special cryptographic mechanism.

Summary