The emergence of blockchain and cryptocurrencies have changed the world that was once known to us. It is gradually penetrating in all the major industries. As more people are getting to know about these technologies and their benefits, they are showing more interest in it.
The concept of digital currency came alive just a decade ago and we already have more than hundreds of cryptocurrencies in the market. Every cryptocurrency is developed to solve a specific problem. The one we are talking about here is NEO. If you are into cryptocurrencies then you must have heard about this before. If you wish to know more about NEO then you should read the text below.
What is NEO?
NEO was founded in 2014 by Da Hongfei and Erik Zhan in China. The project was initially started with the name of AntShares but later it was renamed as NEO. Compare the live price of NEO/BTC to get an idea of the current exchange rates.
The main purpose of NEO is to automate the management of online assets. This can be made possible using smart contracts. They aim to create a smart economy system based on a distributed network.
Things to know about NEO
To understand NEO from a better angle, here are a few things that you should know about the platform.
- NEO allows the digitization of assets on the platform in an open, trustworthy, decentralized, transparent and traceable manner. The platform doesn’t need any intermediaries and extra costs.
- One of the main advantages of NEO is that you can sell, buy, circulate or exchange various kinds of assets on the platform. You can even link any physical asset with a digital avatar on the network.
- NEO is also known to protect your assets. The assets that are registered on the platform comes with a validated digital identity. They are protected by law.
- With the help of smart contracts, you can execute agreements and transactions among different parties without the aid of any legal or government system. The implementation of such contracts is completely based on the network programming code. The coding is important for irreversibility, traceability, and transparency of transactions.
- NEO is known to support two cryptocurrencies. This includes GAS and NEO. It is also compatible with all the main programming languages including Java, Go, C#, Python, and Kotlin. This allows the developers to easily contribute to this platform.
- NEO is quite different from the other main blockchain platforms. That’s because it is focused on being regulatory compliant. NEO is mainly known for its third key feature. This is what separates NEO from the rest.
NEO is a unique blockchain platform that has the potential to change a lot of things. With its cryptocurrency, it allows for the development of smart contracts and digital assets. If you are interested then you can learn even about RVN to BTC from the net.