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NEO

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Description

What does NEO (project) do?

NEO’s goal is to serve as a stepping stone to a new digital economy called the “Smart Economy.” NEO is a decentralized blockchain-based project that operates with a non-profit business model and utilizes smart contracts specific to the project called NeoContracts. On NEO, users can register unique digital identities and claim ownership of digital assets. With NeoContracts, digital identities, and digital assets, NEO hopes to reinvent the way commerce is done.

Another important aspect of NEO is that it allows other projects to create tokens using NEO’s ecosystem. These tokens can then be bought with NEO tokens. This process increases demand for NEO and improves NEO’s reputation in the crypto space.

What is NEO (currency) used for?

There are two tokens relevant to NEO: NEO tokens and GAS tokens. NEO tokens allow their holders to vote on important decisions and earn GAS tokens as dividends. GAS tokens are used to pay fees associated with carrying out NeoContracts and are redistributed to miners that mine blocks on the NEO blockchain.

As previously mentioned, NEO is an ecosystem which other project can use to create tokens. NEO tokens can be used to buy those newly created tokens.

How can NEO’s value appreciate?

By allowing their holders to earn GAS tokens as dividends, NEO tokens represent a valuable asset that can give their holders a form of passive income. As the NEO project gains wider adoption, the need for GAS will rise, causing it to appreciate in value. The fact that holding NEO earns users GAS may cause NEO to appreciate, as well.

A large factor that will affect the value of NEO is its basis in China. China has implemented bans on cryptocurrencies, but if this changes and cryptocurrencies are accepted, NEO’s value may rise significantly.

What is the difference between NEO and its competitors?

NEO competes primarily with Ethereum; in fact, many even refer to NEO as the “Chinese Ethereum.” However, instead of being run only by a group of developers (like Ethereum), many believe that NEO has the support of the Chinese government, even despite their questionable current view of cryptocurrencies. Many people also believe that NEO scales better than Ethereum because of its use of dBFT as its consensus mechanism rather than PoW.

Developers that create dApps on NEO have the choice of using more programming languages than they would on Ethereum, making it easier to create dApps for a larger group of programmers.

  • Mainnet Launch: June/July 2016
  • Open Source: Yes
  • Consensus Type: BFT
  • Technology: Blockchain
  • Total Coin Supply: 100,000,000
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Description

What does NEO (project) do?

NEO’s goal is to serve as a stepping stone to a new digital economy called the “Smart Economy.” NEO is a decentralized blockchain-based project that operates with a non-profit business model and utilizes smart contracts specific to the project called NeoContracts. On NEO, users can register unique digital identities and claim ownership of digital assets. With NeoContracts, digital identities, and digital assets, NEO hopes to reinvent the way commerce is done.

Another important aspect of NEO is that it allows other projects to create tokens using NEO’s ecosystem. These tokens can then be bought with NEO tokens. This process increases demand for NEO and improves NEO’s reputation in the crypto space.

What is NEO (currency) used for?

There are two tokens relevant to NEO: NEO tokens and GAS tokens. NEO tokens allow their holders to vote on important decisions and earn GAS tokens as dividends. GAS tokens are used to pay fees associated with carrying out NeoContracts and are redistributed to miners that mine blocks on the NEO blockchain.

As previously mentioned, NEO is an ecosystem which other project can use to create tokens. NEO tokens can be used to buy those newly created tokens.

How can NEO’s value appreciate?

By allowing their holders to earn GAS tokens as dividends, NEO tokens represent a valuable asset that can give their holders a form of passive income. As the NEO project gains wider adoption, the need for GAS will rise, causing it to appreciate in value. The fact that holding NEO earns users GAS may cause NEO to appreciate, as well.

A large factor that will affect the value of NEO is its basis in China. China has implemented bans on cryptocurrencies, but if this changes and cryptocurrencies are accepted, NEO’s value may rise significantly.

What is the difference between NEO and its competitors?

NEO competes primarily with Ethereum; in fact, many even refer to NEO as the “Chinese Ethereum.” However, instead of being run only by a group of developers (like Ethereum), many believe that NEO has the support of the Chinese government, even despite their questionable current view of cryptocurrencies. Many people also believe that NEO scales better than Ethereum because of its use of dBFT as its consensus mechanism rather than PoW.

Developers that create dApps on NEO have the choice of using more programming languages than they would on Ethereum, making it easier to create dApps for a larger group of programmers.

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