Source: coinsocial.io
Project Details
NEO is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a "smart economy" with a distributed network.
NEO was founded in 2014 and was real-time open source on GitHub in June 2015. Since its inception, the NEO team has experienced the upsurge and boom of the blockchain industry and the frenzy and cooling of the digital money market. We believe technology drives progress and together we can create the future. Motivated by this, NEO has been created to shift our traditional economy into the new era of the "Smart Economy".
Source: neo.org
Bitcoin, cryptocurrencies, and blockchain have been the story of the moment or at least for the previous months. Cryptocurrencies like Bitcoin and Ethereum get all the attention but little is given to Blockchain technology. So, what is blockchain?
A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.
Originally developed as the accounting method for the virtual currency Bitcoin, blockchains – which use what's known as distributed ledger technology (DLT) – are appearing in a variety of commercial applications today. Currently, the technology is primarily used to verify transactions, within digital currencies though it is possible to digitize, code and insert practically any document into the blockchain. Doing so creates an indelible record that cannot be changed; furthermore, the record’s authenticity can be verified by the entire community using the blockchain instead of a single centralized authority.
Source: Investopedia.com
NEO is a rising star in the blockchain technology. The main focus of NEO is on the Smart Economy. A smart economy features digitized physical assets with proof of ownership recorded in the blockchain. These assets can then be traded (like Bitcoin or stocks) using smart contracts. NEO has prepared itself for this type of economy and has made significant measures to improve its tech.
Links related to the translation
- Github Profile
- Official Repository
- Forked Repository
- Link to Pull Request (Already Merged)
- Link to Committed Files and Merged Files (part 1)
- Link to Committed Files and Merged Files (part 2)
- Link to Committed Files and Merged Files (part 3)
- Link to Committed Files and Merged Files (part 4)
- Pull Request of Fork to the Main Branch
Source Language
English
Translated Language
Filipino
Number Of Words
Number of words translated on this contribution: approximately 1,101 words
Proofread Words
Already merged with main repository
Posted on Utopian.io - Rewarding Open Source Contributors