Neo is one of the most controversial e-currencies in the cryptocurrency community. Why? Some people call this coin, in a ragging way, "the Chinese fake Ethereum". But is this really true? Despite critical opinions of the cryptocurrency, Neo still manages to occupy a good position in popularity rankings. Good market capitalization and stable infrastructure help Neo obtain more investments from the traders. If you are looking for the newest, trusty and reliable information about the Neo cryptocurrency, you've found the right place. In the "Neo news" tab on the online portal about cryptocurrencies -Tokeneo News - you can read the best news about Neo coin. With us you are always up to date!
Neo was founded in 2014 and since then it has not left the first pages of the industry magazines. The currency was created by Erik Zhang and Da Hongfei and their goal (as the name of the cryptocurrency indicates) was to create a cryptocurrency of a completely new quality. An additional cryptocurrency GAS token (also known as ANC-Antcoins) operates on the Neo infrastructure.
Neo is a non-profit organization which creates a community-based Blockchain protocol. In the Initial Coin Offering (ICO) they managed to collect over 4.5 million dollars. Among Chinese investors, there is a common belief of Neo being the largest competitor to the cryptocurrency created by Vitalik Buterin - Ethereum. A huge interest of the cryptocurrency community convinced the creators of Neo to create a DNA infrastructure (Decentralized Network Architecture). It allows you to create public and private Blockchain networks.
Onchain is a private company of Blockchain cooperating with big enterprises and with the Chinese government. Te Neo team, on the other hand, is a public platform, within which there are various clients groups. The commentators are of the opinion, that this company is essential for the development of Neo - cooperation between projects will make it possible to reach an unprecedented range.
Neo tokens represent the value of the Neo blockchain. It can be used in managing, creating blocks and in organizing the entire network. When users have Neo in their wallet, they also receive GAS tokens. They give buyers the right to use the Neo blockchain. Like Ether in the Ethereum network, GAS is the fuel which drives transactions in the Neo system.
The maximum possible supply of Neo cryptocurrency as well as the supply of GAS tokens is 100 million tokens. Eight GAS per block is the speed with which one Gas is generated. Having downloaded GAS, it is possible to convert it to Neo or exchange it for other tokens, such as Bitcoin or Litecoin.
An important aspect of Neo is the usage of the so-called "smart contracts". It is a digital equivalent of a money deposit.