NEO Cryptocurrency Review – next generation smart economy platform

NEO Cryptocurrency Review – next generation smart economy platform! NEO is a next-generation smart economy platform (formerly Antshares) and means new and young in Greek. NEO has had a monumental rise to fame and most know NEO for its explosive growth.

NEO supports many additional code bases (e.g. C#, VB.Net, F#, Java, Kotlin) while Ethereum has its own proprietary language called Solidity, which requires developers to learn that before any development can take place. This means a longer learning curve and a barrier to entry which could hinder the number of developers that can enter the ecosystem.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

NEO essentially has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins (in the form of GAS) by holding them in a wallet. NEO “distributed” coins through a crowdfunding event that allowed people to invest but, NEO still made money from the sale. Since there was no mining and only issuance of tokens this greatly centralizes the distribution.

GAS is a Proof of Stake like incentive generated with each new NEO block. The release will entail 8 GAS per block reduction by 1 each year. This will go until 100 million GAS are produced after which there will be no further GAS produced.

NEO has a sister company OnChain that’s already a “made man” in terms of the financial services industry. It is also currently working with the Chinese and Japanese government along with large corporations including Alibaba.

NEO is considered more of an open-source public cloud model that will be separate from OnChain but can also interconnect in terms of the cross-chain functionality as we will see more of with NeoX.

NEO Cryptocurrency Review – next generation smart economy platform