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About NEO

What is NEO?

NEO is a blockchain technology and digital currency with which smart contracts can be drawn up. Especially in China it is a very popular technology.

NEO is the Ethereum of China. It uses comparable technology to allow people to record agreements between themselves without needing a supervisor for enforcement.

When and why was NEO developed?

NEO started in 2014 under the name ”AntShares” and was founded by Da HongFei and Erik Zhang. In June 2017, the name of the technology was changed to NEO. Ethereum is very popular but has its own advantages and disadvantages. NEO responds to the anonymous property of Ethereum that is perceived as negative by governments. NEO holders are not as anonymous as is the case with Ethereum. NEO hopes that this helps governments to accept the currency sooner. This indeed seems to be the case in China.

What are the features of NEO?

NEO has a strong focus on the ability to record smart contracts. This function ensures that you no longer need an external party to maintain appointments. NEO already has many collaborations to its name in Asia, including collaborations with Microsoft China, Alibaba, the Chinese regional government, and Japanese ministries. To perform transactions, a token named ”GAS” has been developed. These can be made from NEO coins as so-called ”fuel” for the platform. The information on the Ethereum blockchain is not definitive because it can be called ”forked”. This is not possible with NEO. This means that everyone can assume that the information on the blockchain of NEO is permanent.

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