Dear Reader,
Our next adventure in the Ninelives series will take us on a journey to China and take a look at NEO: An Open Network for Smart Economy. Why do I call this the 9 lives series? I'm a cat and cats are said to have 9 lives due to our amazing ability to survive. Why China? Because NEO is often referred to as the Chinese Ethereum. Check out https://neo.org/ as you can see by the grammar mistakes their web page wasn't edited by a native English speaker. (If it was, my apologies, I will gladly have my hooman edit your website if you pay me in NEO) Then again, who am I to judge, I'm just a cat. Onto the 9 reasons why NEO may survive.
Chinese Ethereum: NEO is referred to as the Chinese Ethereum because it was the first open-sourced blockchain platform launched in China. Chinese people believe us cats bring them great fortune, this cat hopes NEO brings it great fortune 😸 yes I have a few NEO tokens.
GAS: NEO is the Investment token, GAS is the fuel for the NEO blockchain. You need to hold NEO in a wallet to collect GAS, it accumulates for free, but most exchanges will keep your gas. Smart cats never keep their NEO on an exchange because we love free stuff and are careful.
It's indivisible: That's right, NEO is indivisible. GAS fuels the network, NEO stays in whole numbers and should be free to move off exchanges. Don't be a dummy! Only buy whole units of NEO, partial NEO can't be taken off exchanges. Just like a cat, as a whole we are great but half a cat is useless.
Smart Contracts: NEO isn't a currency, it's a smart contract, like Ethereum. Unlike Ethereum which uses some strange programming language, NEO uses C# or JAVA, or eventually any popular programming language. This makes it simple for programmers to interact with the blockchain and I like simple.
Digital Identity: NEO uses digital identity to protect its users. This makes it possible to only deal with people who have confirmed their identity, protecting ones self from scams. It will also help make it more acceptable for complying with global anti-money laundering laws. I don't like being tracked and am microchip free 😹
Proof of Service: you get GAS every 15 minutes and 20 seconds for holding NEO. The more NEO you have the more GAS you get. You don't mine NEO, which makes it more environmentally friendly. Cats can't mine, but we can HODL which makes NEO more cat friendly.
Smart Economy = Digital Assets + Digital Identity + Smart Contracts. This equation is taken right from their website https://neo.org/?culture=en-us NEO aims to be the infrastructure for a smart economy, whatever that means.
Antshares: NEOs former name, it was lame so they rebranded to NEO. NEO has a great marketing team and apparently is in favour with the Chinese government. This is essential to operate in China as the Chinese have been known to shut out major foreign applications and websites--Blockchains likely won't be an exception, or at least the Apps or DAPPs that work with blockchains.
Non-profit: NEO was founded as a non-profit by its founder Da Hongfei, who also founded Onchain. Onchain is a for profit company that recently released some tokens on the NEO network. The relationship is confusing and I recommend you look into it as it is too complicated for me to explain-I'm just a cat!
If you made it here, thanks for taking the time to read the 9 lives of NEO😺 If you think NEO is a good project or like my blog, please follow and up vote. If you have any questions or comments, please don't hesitate to reply.
In no way is this intended to be financial advice and I do not recommend you purchase NEO or GAS. Please do your own research. If you purchase NEO and lose 100% of your investment, it is your own fault.
If you scratch my back, I'll scratch yours. Please comment below and follow me, I will follow you back!
Bye for Meow 😸 mRrrrrrrrrr.....