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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