RESEARCH

For general questions, please read our F.A.Q.
Disclaimer: Cryptomover is not a licensed financial advisor. The information presented in this piece is an opinion, and is not purported to be fact. Cryptocurrency is a volatile virtual commodity and can move quickly in any direction. Cryptomover is not responsible for any loss incurred by following this advice.

 

95. NEO (Published: 23rd Mar, 2018)

Introduction
NEO is a community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts to realize a “smart economy” with a distributed network. NEO is a platform for swapping commercial value in the real and virtual world in real time. It has been created to shift the traditional economy into the new era of the “Smart Economy”, which is a combination of Digital Assets, Digital Identity and Smart Contract.

Team
There are 51 NEO ContributorsDa Hongfei is the co-founder of NEO. He is also the founder and CEO of OnChain, a blockchain development company for enterprise and institutions. Both projects are headquartered in China and were the first blockchain development projects based in China. Hongfei has earned his status as blockchain and cryptocurrency pioneer in Asia.

Erik Zhang is the co-founder and core developer of NEO. He is also the Founder and CTO of OnChain, author of the DBFT consensus mechanism.

Features
Digital assets are programmable assets that exist in the form of electronic data. With blockchain technology, the digitization of assets can be decentralized, trustful, traceable, highly transparent, and free of intermediaries. On the NEO blockchain, users are able to register, trade, and circulate multiple types of assets. NEO has two forms of digital assets: global assets and contract assets.

Global assets can be recorded in the system space and can be identified by all smart contracts and clients; Contract assets are recorded in the private storage area of the smart contract and require a compatible client to recognize them.

The NEO system implements some major technologies, such as: DBFT(Delegated Byzantine Fault Tolerant)NeoX, etc. as the infrastructure for the intelligent economy.

DBFT is a Byzantine fault-tolerant consensus mechanism that enables large-scale participation in consensus through proxy voting. The holder of the NEO token can, by voting, pick the bookkeeper it supports.

For NeoX, it is a protocol that implements cross-chain interoperability. NeoX is divided into two parts: “cross-chain assets exchange protocol” and “cross-chain distributed transaction protocol.” It allows multiple participants to exchange assets across different chains and to ensure that all steps in the entire transaction process succeed or fail together.

NEO has two native tokens, NEO (NEO) and NeoGas (GAS). GAS is the fuel token for the realization of NEO network resource control. The NEO network will set a threshold by voting to exempt GAS from a certain amount of transfer transactions and smart contract operations to enhance the user experience.

Development
NEO was founded in 2014 and was real-time open source on GitHub in June 2015. It was rebranded from ANS in June 2017. There are some upcomingNEO token ICOs, such as NarrativeTHORYouPayGoPeerAtlas and NEX. There were a lot of meetups and workshops in Sydney, Seoul, Singapore and Tokyo etc in March 2018.

For the collaboration, NEO has corporate collaboration and governmental collaboration. This will prove to be beneficial when legislative challenges start affecting crypto currencies. As NEO is established in China, which is the largest cryptocurrency market and they have the largest amount of exuberance for cryptos. It has shown that NEO has strong development in this field.

Suggestion
NEO, the so-called China’s Ethereum, is extremely popular in China, and even across the globe. It is a China-based project that’s being developed by OnChain. As it is the leader of smart contracts platform in China, it has a promising future. The token has already seen massive growth over the past year. Moreover, the project has a lot of active development and constant engagements with the community. NEO is believed to continue to grow and develop even further in the future. Although it may not have crazy returns, it looks to be a good long-term hold, when it could approach the successful level of Ethereum in the future.

© 2017-2018 Cryptomover.com