What is NEO
NEO is a blockchain platform typically described as the Chinese Ethereum. As the first open source blockchain from the mainland, NEO has caught the attention of investors from both West and East. Thrilled financiers have flocked to purchase NEO tokens after rebranding from ANS in June 2017. NEO has rallied 2000% to a high cost of $52 per token given that June.
How NEO was created
NEO released in 2014 as an open source blockchain referred to as Antshares (ANS). It was moneyed via seed capital with an objective to reinvent commerce into a smart economy powered by blockchain. It was not up until November 2016 that Antshares released a white paper describing information of its lightweight universal blockchain.
Who created NEO?
ONCHAIN, a Chinese corporation based out of Shanghai established the NEO platform. Da Hongfei, the CEO of Onchain, is also the creator of NEO. Da Hongfei and the CEO, Eric Zhang co-founded NEO. A group of near 20 individuals supports them in development: 2 core developers, half a lots contributing code, a couple of academic, technical advisors and code designers from the community.
What technology does NEO use?
NEO is a platform for swapping commercial worth in the virtual and real world in whole time. You can transmit and exchange value as easy as text messages anywhere in the world. NEO is a decentralized, dispersed ledger protocol for enabling the exchange of digitized properties. Not all possessions on this platform need to be purely digital properties such as cryptocurrencies. NEO offers a smart bridge for turning real-life possessions and titles into digitized form. The foundational blocks of a creative economy are foremost and very first to represent properties on a blockchain platform.
How does NEO work?
NEO utilizes this foundation, to power the transfer, exchange, and trade of possessions on its platform. Initially, asset owners deposit and register their properties or residential or commercial property on the platform. NEO’s e-contracting functions acknowledge these assets through a legally binding digital accreditation program. Once on-boarded, features can be exchanged in a peer to peer style. Recording, clearing, and settlement all take place on NEO utilizing its smart contract 2.0 function. On NEO’s ledger protocol, properties such as equities, claims by lenders, commercial contracts, bills, currencies, and loyalty points are digital. Once possessions are on record, functions such as supply chain funding, p2p financing, equity crowdfunding, and stock ownership strategies end up being possible. Also, a digital assets exchange can exist on NEO to support trading of all types of properties between peers and corporations. There is no limit to gadgets; trading deal with both personal computers and mobile phones. Effectively, NEO links individuals from any gadget across the world to a single smart economy.
What do the NEO tokens do?
NEO tokens do not represent any stake or equity. Their only utility is to vote as nodes and confirm transactions on the NEO blockchain. NEO tokens can also be utilized to get AntCoins (ANC). Any person or entity signing up properties on the NEO blockchain will need to use and buy ANC. ANC supply is repaired at 100 M which are ruined instantly after usage for signing up an asset.