Initially called “Antshares,” Neo was the first China-based blockchain platform, with features to support decentralized applications and smart contracts in addition to its own currencies. A smart contract is a piece of code that actions itself when certain criteria are met. In other words, there is no element of trust required in the transaction because the smart contract will always transfer the assets correctly once its conditions are met.

• Using smart contracts, NEO also employs what’s known as the NEO Enhancement Protocol (NEP).
• Neo, formerly known as Antshares, is often known as the “Ethereum of China”.
• The NEO blockchain is further able to support a smart economy through the use of smart contracts.
• It is too soon to say whether it can live up to the moniker or not, but the biggest advantage that it has over Ethereum is the relatively low barrier to entry.
• Users can record, buy, sell, exchange, or circulate various assets.
• This makes it incredibly competitive in terms of speed against its rival coins.
• The 100 million NEOs have already been generated in the genesis block, i.e. the first block of the blockchain, of the NEO network.

Neo (NEO) Mining Guide Version 2.0.1

• OnChain – Onchain was created by Hongfei and Zhang as well, however, is a separate company from NEO.
• Comparatively, the current price is -92.40% lower than the all-time high price.
• This means that the entire trade is done without either party being directly involved.
• In 2016, Onchain was listed in the Top 50 Fintech Company in China by KPMG.
• That being said, you should always conduct sufficient research before investing in NEO and other cryptos, making sure to never invest more than you can afford to lose.
• The platform charges users in GAS for storing currency as well as for executing smart contracts.
• The difference is that Ethereum uses its own native language called Solidity.

Through voting, users can manage the network, determine how it develops, and choose parties for different positions, such as bookkeeping. NEO aims to automate digital asset management through smart contracts, with the eventual goal of building https://www.tokenexus.com/ a distributed, network-based, smart economy system using decentralized applications. Neo is a cryptocurrency and software that powers multiple digital currencies and other smart contract applications, notably the Neo coin and Gas coin.

What is the market cap of NEO (NEO)?

• This is due to the fact that blockchain technology records each transaction conducted by the chain.
• Half of these coins were locked into a smart contract that releases a maximum of 15 million coins every year for use in funding project developments.
• With the advent of the blockchain, it has become far safer to own digital assets.
• Doing so ensures that NEO can maintain long-term success, and receive buy-in from necessary stakeholders, including enterprise businesses.
• During the process of purchasing your NEO tokens, however, you are likely to incur some fees as a result of having to use online exchanges.

This article will answer important questions about Neo coin, how Neo works, special Neo blockchain how to buy neo features; and other essential information on Neo coin, Gas coin, and the greater Neo ecosystem.

Imagine creating a smart contract using Javascript or C#!

It allows the contracts to access data outside the NeoVM without compromising on the overall stability and efficiency of the system. In a Virtual Machine (VM) like Ethereum, one needs to learn a whole new language (solidity) to create smart contracts. In a blockchain, anyone and everyone can upload a smart contract.

NeoContract: The Smart Contract 2.0

Mining vs Staking