What is NEO coin? Information, Price & Outlook for NEOsteemCreated with Sketch.

What is NEO?

NEO is a non-profit community-based blockchain project that utilizes digital identity to digitize assets into a smart contract driven “smart economy”. 

Pros:

  • OnChain, the company behind NEO work closely with the Chinese government potentially making NEO future proof against regulation.
  • With NEO developers can build smart contracts with languages such as C#, Java and Python. This makes the NEO platform accessible for developers.
  • NEO is not just a whitepaper or in early development like some of the other Ethereum competitors. NEO is live with dApps launching and a growing economy.

Cons:

  • There is a huge amount of competition to become the next Ethereum. NEO is at an advantage but it’s still in a very competitive market space.  
  • There are reports that the speed of NEO aren’t nearly as high as what was declared in their whitepaper.

Official Video:

Comparison:

  • NEO and Ethereum are aiming for similar roles in the blockchain and crypto community.
  • The key difference is that NEO is attempting to anticipate a future where government regulations must be met by blockchain and cryptocurrency technology and markets.  

Competitors:

  • Ethereum
  • EOS
  • Lisk
  • Qtum
  • Neblio

2018 Market Outlook

Value as of March 9th 2018 -  $ 83.54

"Do you have a 2018 Market Prediction for NEO? Tell us in the comments"  

Intelligentsia:

  • Da Hongfei, co-founder of NEO and OnChain.
  • Erik Zhang, co-founder and developer of NEO and OnChain.
  • October 2015, the Neo Project raised $5.05m via two crowdsales.

Milestones:

  • In 2014 research on Neo started by Shanghai-based blockchain R&D company “OnChain”.
  • In June 2015 NEO was added as open source to GitHub.
  • In 2016, OnChain was listed in the Top 50 Fintech Company in China.
  • August 2017, NEO went live.
  • As of February 2018 NEO has 37 ICO’s live or upcoming.

Roadmap:

  • Throughout 2018, focus on mass adoption and ICO’s.  
  • 2018, to incorporate quantum-resistant cryptography (NeoQS).
  • 2018, dividends for NEO holders.
  • 2018, ICO’s launching on NEO include:
    • Narrative, a social media blogging site.  
    • THOR, job recruitment site.
    • PeerAtlas, medical data.

Supply:

  • Circulating Supply: 65,000,000 NEO
  • Total Supply: 100,000,000 NEO
  • In October 2017 15 million NEO were added to circulation from the 50 million original circulating supply. This was held back for:
    • 10 million tokens to motivate NEO developers.
    • 10 million tokens to motivate developers in the NEO ecosystem.
    • 15 million tokens to cross-invest in NEO projects.
    • 15 million will be retained as a contingency.

Function:

  • Digital Assets: Via blockchain it has become safer to own digital assets. With blockchain technology these assets are decentralized, safe, trustworthy, and free of third party tampering.
  • Digital Identity: The NEO platform uses the most widely accepted digital certificate model. Identity is provable via facial recognition, fingerprints, voice, SMS et al and is optional for dApps developers using NEO.
  • Smart Contract: Neo developers are given code-flexibility when building smart contracts. This means the platform is easier to develop on over Ethereum which has a proprietary language (solidity).

Usage:

  • The Neo ecosystem has two tokens, NEO and GAS.
  • Ownership of the NEO token gives the holder rights to manage and make decisions for the network. These rights include bookkeeping, NEO network parameter changes etc.
  • GAS is the networks fuel. GAS is exchanged as currency inside the ecosystem and it’s the economic incentive of the various projects taking place on the NEO network.
  • GAS is released proportionally to those who hold NEO. NEO holders can claim GAS tokens anytime they want.
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