NEO - The Next Big One?
NEO which was formerly known as Antshares has recently started gaining traction and with the possible backing of the Chinese government we could see some very impressive gains in future.
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I'll try and keep this as brief as possible to give some folk an insight into NEO, GAS and some of my knowledge on it. Da Hongfei Founded antshares (now known as NEO) and is also the CEO of Onchain.
Vitalik Buterin (left) and Da Hongfei (right)
Before I go on, I am not pumping NEO. I am writing an article to try and give people as much information as possible on what I beleive to be a very promising coin. Trading is very risky and I am most definitely not a professional trader, so trade at your own risk.
So here goes.
NEO In A Nutshell?
Well this is the summary from the white paper
NEO is a distributed network that combines digital assets, digital identities and intelligent contracts. NEO system will also use DBFT, NeoX, NeoFS, NeoQS and many other original technology, as the future of intelligent economic infrastructure.
You can find the white paper here http://docs.neo.org/zh-cn/
NEO is basically shares in the blockchain, and there will only ever be one hundred million of these shares. These shares allow you to earn GAS which I'll explain in a moment. The shares however allow you to have a say in future changes and bookkeeping.
NEO is the management of tokens, a total of 100 million copies, for the realization of the NEO network management. Management rights include voting for bookkeeping, NEO network parameter changes, and so on. The minimum unit of NEO is 1 and can not be divided.
NEO GAS?
From what I'm aware, this is what you earn from holding shares of NEO. Yes you can also buy GAS but it's just like a miner who mines Bitcoin, but instead of mining, you hold shares which earn GAS.
GAS is fuel tokens, the maximum total limit of 100 million, for the realization of NEO network resource control. The NEO network charges for the operation and storage of tokens and smart contracts, thereby achieving economic incentives for journalists and preventing the abuse of resources. The minimum unit of GAS is 0.00000001.
So What Should I Invest in?
If you could invest in both then I would do so. Nobody knows what the price will be and you should do your own research before investing any money into any project.
NEO in my opinion will always be worth more than the GAS because you can earn GAS with NEO. Plus NEO has a maximum of one hundred million tokens which are not broken down into decimal points, unlike GAS which is broken down to a minimum of 0.00000001.
China Backing?
Contrary to what people have been reading, this isn't actually true. However there has been ground made up to try and involve the government with having a digital identity which will help with transparency for the benefit of the Chinese government.
If you have a read at this https://www.coindesk.com/chinas-central-bank-vows-push-blockchain-five-year-plan/ it shows that the Chinese government are coming round to the idea of blockchain technology and are trying to create a bridge to benefit all involved.
The thing about NEO though, they don't aim to be seen as a currency which can only help with issues regarding regulations.
Benefits Over Ethereum
NEO benefits over Ethereum as there are a lot less coins that will be available. Neo can also be written in many more languages which allows for more developers to come on board, unlike Ethereum which can only be written in Solidity.
Other Factors
The Chinese love to stick with homegrown inventions. You can look at Taobao which is their version of Amazon, you could also look at Alibaba which is like their Ebay.
China is also the biggest economy in the world and with over a billion people it gives NEO & GAS the potential to grow exponentially.
Partnerships
Microsoft - Take a look at his Twitter for June 21st https://twitter.com/dahongfei?lang=en
NEO Improvements Required
NEO needs to focus on the translation side of things because there are a lot of bad grammar mistakes and some sentences which look as if a child has written it, so it doesn't look too professional at times.
They also need to improve on their marketing side of things and I'm confident that as soon as they do focus on these things then it won't be long before the price will rise sharply.
Still Learning
I, like many others out there, are still learning about NEO but it looks very promising for a medium to long term hold so the coins are cheap just now, so why not buy some and see where NEO will take us. Hopefully we won't be kicking ourselves in a years time thinking if we just bought when the coins were cheap!
Hopefully this has helped somewhat to answer some thoughts regarding NEO & GAS.