Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => NEO Forum => Topic started by: Crestie C. Tuvilla on May 24, 2018, 03:41:12 PM
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What is NEO? It has been dubbed the “Chinese Ethereum,” and this description goes a long way to illustrate what it does: provides a native Chinese platform for tokens and decentralized applications, similar to Ethereum but with important technical differences.
NEO exists to bring the blockchain to Chinese developers, businesses, financial institutions, and even the government. Its tokens and decentralized applications can do anything the Ethereum network is capable of doing, with decentralized applications able to be programmed in several programming languages.
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What is NEO? It has been dubbed the “Chinese Ethereum,” and this description goes a long way to illustrate what it does: provides a native Chinese platform for tokens and decentralized applications, similar to Ethereum but with important technical differences.
NEO exists to bring the blockchain to Chinese developers, businesses, financial institutions, and even the government. Its tokens and decentralized applications can do anything the Ethereum network is capable of doing, with decentralized applications able to be programmed in several programming languages.
Neo was created to introduce the blockchain to chinese developers. It is decentralized and tokens can do a lot of things to the Ethereum that is capable of dping such things.
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Also NEO's blockchain addresses scalability issues that older blockchain have. Also, its platform offers dApps, smart contracts, token issuance (NEP-5 tokens) and more. It is popularly referred to as the "ethereum of China" due to the similarity in functions with Ethereum and its Chinese background.
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I don't know that I liked the "Chinese Ethereum" label.. nothing against NEO but theres other smart contract platforms that have very large market caps that are Chinese.. I think if China's government with the way they've reacted int he past, that theyd jut end up making their own blockchain, but time will tell.
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NEO has basically been designed to digitize the various assets and ensures that the transactions are done with the help of smart contracts. Since NEO's formation, the blockchain has seen a considerable amount of traction among the users. NEO was China’s first digital coin and also a direct competitor of Ethereum, hence often referred to as the “Chinese Ethereum”. Like Ethereum, the NEO is much more than just a digital currency, and this factor has a significant impact on NEO price predictions. Do your own research and trade on neo to gas (http://seo abuse/neo/neo-to-gas) at good rates.
NEO is a blockchain platform for the advancement of digital assets and smart contracts. Smart contracts are the next big thing which can be applied to many real-life situations and businesses. It was rebranded from AntShares to NEO in June 2017, which proves that NEO is predominantly a new coin, which geared up like a storm to be able to secure the spot in the top 20 cryptocurrencies in the world.
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NEO Technology
- NEO is a unique blockchain algorithm, supporting decentralized commerce, identification, and digitization of various assets.
- It integrates blockchain technology with the digital identity, creating ways for physical assets like money or company shares assets to be digitized and exchanged over the NEO network in a peer-to-peer manner.
- NEO aims to build a platform on which other decentralized applications can be built by allowing users to execute smart contracts on their blockchain, thus increasing the spread of the blockchain technology.
A smart contract is a self-executing contract in which the terms of the agreement are written directly into code, making it binding and doing away with the need to trust a third party. Whereas the smart contracts in Ethereum can only be written in a language called Solidity, NEO contracts can be written in common programming languages like C++, Javascript, Python, etc. making it automatically more accessible to the masses.
Rather than the conventional Proof-of-Work technology, NEO uses a consensus mechanism called Delegated Byzantine Fault Tolerance (dBFT), which offers lower electricity costs and removes the possibility of a chain split. This also makes it easier for NEO to achieve its goal of digitalizing physical financial assets.
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NEO also now has an application for the coin for staking and this exceeds that of katta Ethereum from China.
The nickname "Ethereum China" is very annoying because it's clear that the NEO is different from Ethereum and NEo is NEO, not Ethereum or Bitcoin!
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Do you think people will start buying gas guzzlers again or have they learned their lesson the price of gas always goes up and will they stick with economy cars?