Charts price for NEO (NEO)

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Description of NEO (NEO)

NEO Origin

Release Date: February 4, 2014.

NEO, was a project previously known as AntShares, was created using funds provided by Da Hongfei through his development company known as Onchain.

NEO is a China based Blockchain platform and digital asset designed to create scalable networks, decentralized applications, and ICO’s.

NEO Functionality

Transactions on the NEO Blockchain are fueled by what is known as NeoGas. NEO, just like Ethereum, is entirely open sourced with massive communities supporting them and aiding in the platforms development. NEO is also Turing Complete.

Through the use of the NEO Blockchain, users are capable of registering, transfer assets, and move them into circulation. Additionally, both physical and digital assets can be linked together through the use of NEO. Physical assets linked through neo obtain a digital identity, therefore they are fully validated and protected under national Chinese laws.

The smart contract ecosystem available in NEO was designed to cater to commonly utilized programming languages. Such as Java, C#, C++, and others. The smart contract creation system available on the NEO Blockchain is termed as the NeoContract.

In total, 100 million units of NEO were ever created. With half of that amount distributed to early bird investors. The remaining units were locked into a smart contract. Each year, exactly 15 million units are unlocked which the NEO development can use to fund their development goals. The NEO Blockchain is capable of supporting up to 10,000 transactions per second.

Additionally, it’s worth mentioning that the NEO Blockchain is supported by the Chinese government. As well as Microsoft, WINGS, and Alibaba. Which obviously gives a great boost to the platforms popularity. NEO is an adequate competitor to Ethereum.