Posted on April 2, 2018
NEO (formerly Antshare) is a decentralized and distributed ledger protocol that digitalizes real-world assets into digital ones, enabling registration, depository, transfer, trading, clearing and settlement via a peer-to-peer network.
Uses e-contracts to keep record transfers of digital assets. In NEO, digital tokens generated by e-contracts function as a general underlying data that could be used for recording titles and assets like equities, creditor’s claims, securities, financial contracts, credit points, bills and currencies, and can be applied for equity crowdfunding, equity trading, employee stock ownership plans, peer-to-peer financing, loyalty programs, private equity funds, supply-chain financing, etc.
Used like a share of the company that you can use to vote and mine. Holding NEO gives dividend paid in GAS. GAS is a coin that is used to run all smart economy platforms created on them. They are both tradable and hold different value. Since NEO is a share of the company, it is not possible to trade fractions of it.
– There is no transaction fee to send NEO
– There are no hard forks possible because they uses delegated Byzantine Fault Tolerance (dBFT) instead of PoW or PoS.
– Holding NEO rewards you in GAS
– Very fast transaction speed (10 000/sec)
– Many ICOs based do not accept to be funded in GAS. This keeps the price of GAS relatively low because it is not needed for ICOs.
– To fund ICOs, you have to give shares of the company instead of the coins (GAS) that will be used to operate their network.
– Since NEO is non-divisible, it is very impractical to buy anything with it. If an item is 50$ and 1 NEO is worth 100$, you cannot spend 0.5 NEO for it. You must spend 1 entire NEO, so 100$ for 50$ item.
The network is up and running.
In the first quarter of 2018, two new changes will happen:
– There will be a published list of candidates, so voters know who they are voting for
– The Council shall operate less than two thirds of consensus nodes by the end of quarter 1, 2018.
NEO adopts a P2P network structure, in which nodes can communicate with each other through TCP/IP protocol. In this structure, there are two different types of nodes: peer node and validating node (referred to as Bookkeepers in the NEO Whitepaper). Peer node can broadcast, receive and transfer transactions or blocks, while validating node can create blocks.
Uses the dBFT protocol to verify transactions. Holders vote to elect a bookkeeper. When two bookkeepers disagree on the outcome of an event (transaction), all other bookkeepers vote and if one outcome obtains 66.66% of the votes, it is considered the right outcome.
NEO’s platform is very similar to Ethereum’s and GAS is used for the same purpose as Ether.
Currently in partnership with a range of blockchain startups like Bancor, Coindash and Agrello. They are also in partnership with Microsoft.
Traded on Bittrex, Binance and most Asian exchanges.
A blockchain layer.
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Jan-15–2018: 186.91 USD
Dec-2017: 34.92 USD
Sept-2017: 31.82 USD
July 2017: 8.64 USD
Jan-15–2018: 88.37 USD
Dec-2017: 18.67 USD
Sept-2017: 16.73 USD
July-2017: 1.78 USD
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.