NEO is the cryptocurrency that was born in October 2016 in China and is called the Chinese version of Ethereum.
NEO was originally named Antshares (ANS). However, in June 2017 the name was changed to NEO.
Features of NEO
1. DBFT adopted for block authentication system
NEO takes a proprietary algorithm called DBFT for block authentication system.
The block authentication system is the authentication work when a transaction is done.
In Bitcoin, an authentication system called PoW has been adopted. By using a large amount of power consumption to do many calculations, authentication authority is given to the one that solved the earliest calculation.
The DBFT used in NEO means Delegated Byzantine Fault Tolerant.
The block chains are supported by a computer called a lot of nodes, and monitor each other and construct a P2P network.
You can receive NeoGas (GAS) as a mining fee.
2. Adopted many programming languages
NEO adopts many development programming languages.
Many cryptocurrencies use a special programming language, there are cases where only limited engineers develop development.
Ethereum uses Solidity, a proprietary programming language called Serpent, so it is currently difficult for ordinary engineers to develop it.
3. Fast processing speed
The speed of processing speed is one of the features of NEO.
It is said that Bitcoin can process about seven transactions per second. Ethereum will process about 15 transactions per second.
It is said that NEO can handle 1,000 transactions per second. This is the processing speed equivalent to XRP which is said to have the fastest processing speed.
NEO is supposed to be able to do theoretically with the current 10 times faster trading speed if system optimization is done in the future.
Since the speed of transaction processing of the most used VISA card in the world is 4000 to 6000 / sec, it becomes the speed of transaction processing surpassing the VISA card.
When you use VISA card, I do not feel that transaction processing is slow, I do not feel stress.
Transaction processing speed
・Bitcoin : about 7 / sec
・Ethereum : about 15 / sec
・Ripple : about 1,000 / sec
・VISA card : about 4,000 to 6,000 / sec
・NEO : about 1,000 / sec
4. Issuing NEO GAS
NEO issues “NEO GAS” (GAS) token to use NEO on the network.
* NEO GAS is different from GAS used for the fee of Ethereum.
GAS’s maximum issuance volume is 100 million GAS, which is said to reach the maximum issue volume over 22 years.
With BINANCE you can also buy and sell NEO GAS tokens.
5. Fear of regulation in China
NEO is the currency issued in China.
Chinese citizens still do not trust the cryptocurrency.
In September 2017 ICO was completely banned, exchanges regulations included NEO and gave great damage and uneasiness to the entire cryptocurrency.
If China further strengthens regulations on some cryptocurrency in the future, the possibility that NEO will be regulated is not zero.
However, NEO has a high market capitalization, it is a popular currency handled by exchanges all over the world, not only in China.
Even if the cryptocurrency is restricted in China in the future, I can not imagine that we can regulate NEO which is handled in the global exchange.
The future of NEO
Currently, NEO is growing into a virtual currency that draws attention from all over the world.
One of the reasons that NEO is drawing attention is that many future ICOs are based on the NEO platform.
When ICO based on NEO appears one after another, it is necessary to purchase NEO to participate in ICO.
Moreover, the potential of NEO is explored not only as a platform of ICO but also various ways of utilizing high-performance functions.
From many possibilities, NEO is a promising currency.
NEO can be purchased at BINANCE.