NEO - cryptocurrency pretending to be shares

Chinese NEO is very similar to the network Ethereumand its creators have similar ambitions. They want to be a broad platform based on blockchain technology. An interesting fact about their platform assumptions, however, the indivisibility of NEO - hence it is not suitable for everyday payments, but - contrary to appearances - it is not a disadvantage for its owners. See what benefits they achieve thanks to this.

We continue the Forex Club cycle in which we describe the most popular cryptocurrencies in the world. Today it's time for NEO, known as the Chinese Ethereum. Initially, the network was called AntShares - ANS. Today, however, no one remembers the old name, and NEO stands for New Economic Order. It is the first decentralized blockchain platform that was established in China. The number of NEO units is predetermined and amounts to 100 million. However, this is not the most interesting and distinguishing feature of it from other cryptocurrencies. Among the tokens, there is no shortage of deflationary units with a strictly defined target number. NEO, on the other hand, is indivisible. So you cannot pay with it every day, because the minimum denomination is always "1", and the price, of course, is subject to market fluctuations. This is more like assumptions about stocks than cryptocurrencies.

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History of the Uprising

Full source code was ready in mid-2015. It was immediately published, which proves that it is the first open source blockchain project in China. However, not all tokens were on the market right away. The algorithm will make subsequent tranches of units available for 22 years from the moment of its creation. Ultimately, 100 million tokens will be traded.

10 percent has already reached Venture Capital shareholders and technical consultants, 40 percent sold during ICO. On the other hand, half of those available at the beginning were given to project creators who could not sell them for a year.

Advantage over Ethereum

Initially, NEO was called Chinese Ethereumbut from a programming point of view it is a completely different technology. Developers do not need to know a specific language, because the platform works with the most popular programming languages: JavaScript, Python, C, C ++, Go. There are also several standards for programming smart contracts, which allows you to create tokens based on the NEO network. Thanks to cryptographic certificates, you can also get a digital identity. The developers argue that their codes are unbreakable even by quantum computers.

NEO units cannot be mined and transactions are confirmed by the NEO Council. This is one controversy about the network, which is not entirely decentralized as a result. The NEO Council has seven consensus nodes, and it was not until 2018 that the first node independent of the project team - at least theoretically - was created, in which "NEO enthusiasts" found themselves. Knowing the openness of the Chinese to the free market, one can, however, draw various theories about the independence of the group operating within this node. The good news, however, is that the NEO network could ultimately have as many as 1024 nodes, which will be created through a public vote.

You buy NEO, pay in GAS

NEO can be traded on crypto-exchanges, but part of the transaction must be paid for via the autonomous GAS token, indicated by the creators of the project. Sending NEO between users or cryptocurrency exchanges, creating smart contracts, as well as adding applications to the chain - these are operations for which we will only pay at GAS. Fortunately, this token is divisible to eight decimal places.

GAS is also given away. All owners of NEO units receive it. Every 15-25 seconds, another block is made available, and each of its owners - regardless of the amount of cryptocurrency - receives a "payment" for it in GAS tokens. 8 GAS tokens are then shared among all NEO holders. Every 2 million GAS tokens, the number of tokens distributed decreases by 1 unit.

NEO and GAS quotations

Thanks to innovative solutions, as well as the fact that this cryptocurrency has been on the market for a relatively long time, tokens can be bought on virtually all exchanges. The peak of quotations took place on January 15.01.2018, 196,85, when USD XNUMX was paid for one unit. Cryptocurrency capitalization then exceeded USD 12 billion.

As at 07.01.2020/9,72/685, the title token costs USD 70,5, and capitalization exceeds USD XNUMX million. There are XNUMX million cryptocurrency units on the market.

GAS is also a popular token, although it must be admitted that due to technological solutions this popularity was initially enforced. The peak of quotations took place on January 15.01.2018, 97,5, when USD 800 was paid for one unit, which translated into a capitalization of over USD 07.01.2020 million. As at 0,99/10/XNUMX, GAS costs USD XNUMX and its capitalization exceeds USD XNUMX million.