The world is changing fast and these dynamic features affect our daily life. Isn’t it? Even how we spend our money innovation and technology are making out life more convenient. The most significant change is taking place is now with our money.
How we get it?
Where we keep it?
And how we keep it?
The quickly evolving digital revolution has taken over the world of cash money. Cryptocurrency is one such technology. However, there are above 900 cryptocurrencies operating all across the world and is making their place in the market to function it effectively.
Ethereum has already acted as a platform for various new cryptocurrency project but there is another cryptocurrency like Ethereum Called Neo.
Neo coin is currently an all-new crypto platform to invest for on the view and it’s really efficient. If in the last few weeks you have been researching about altcoins then I am pretty sure you must have come across the term NEO coins. We need to have a proper detail of alternatives so that we can best decide where to invest. We here at Coinscage try to guide with every possible information.
NEO coin is one of the most powerful and emerging crypto coins currently. It has given a high return to its investors in the past few months and it was all of the time at the peak. So, without any further delay let us quickly discuss it.
What is NEO Coin?
Popularly known as the “Ethereum of China“.
NEO coins, formerly known as Antshares is first ever open source blockchain of China. In the fast-changing stage of cryptocurrencies, it was founded in the year 2014. The NEO mission is to ease the way the commerce functions or operates.
They say, “We believe in technology drive progress and together we can create the future.” Neo is being used to alter our traditional economy into the era of smart economy.
NEO coins are rising over 400% in the last few weeks. It is ranked for the top 5 coin market caps, surpassing most of the cryptocurrencies.
The price for each Neo token went up to $50 but soon it stabilized at around $15 after correction. However, It’s increasing steadily now.
NEO is an efficient way of using blockchain technology and digital identity to digitalized assets. For digital assets to be self-controlled and manageable there is a use of smart contract to achieve objectives “smart economy” with a blockchain network.
Now let me give a guide detail on all the main elements of NEO coin. So here we go:
Main Elements of Neo:
Digital assets: NEO uses digital assets that exist in the form of digital data. With the use of blockchain, assets digitalization is trustworthy, highly reliable, efficient and the most important no intermediaries.
Digital Identity: NEO has able to create a great feature of digital identity which includes the facial characteristics, fingerprints, voice identification and other methods of authentication which is highly desirable and is in a more secure way.
Smart Contract: Nick Szaba in 1994 was first who proposed the idea of smart contract which is only 5 years after the creation of WWW(World Wide Web).
It focuses that the new developers need not know the other programming language but use C#. It allows the numbers of developers to benefit with the development of smart contracts.
How does it work?
Let us talk about the working of NEO coins.
To fully understand the working of NEO you must have some basic knowledge of how Ethereum works. It’s features are very much similar to Ethereum. It is used as a platform for people to build a decentralized application in smart contract of the NEO blockchain. NEO has their own proprietors language that developers can use on the blockchain.
The NEO token performs or facilitates as the investment token of the blockchain of NEO. It has a market capability of 100 million tokens which facilitate or used in the creation of block, management of the network, network changes. These 100 million tokens during the block cation are pre-mined. The total flow supply of NEO is around 50 million token and the current price per unit is $ 15.73.
GAS is the token of limit 100 million that is used for the realization of NEO resource control of the network. For the storage of tokens and smart contract, the NEO network applies some charges that creates an economic incentive for the bookkeeper. GAS has a minimum unit of 0.00000001.
NEO Distribution: The 100 million of NEO tokens will be divided into two main parts. The first part of 50 million tokens of NEO is controlled or managed by NEO council to backup NEO long term maintenance, operations, and management. This part is not included in exchanges.
GAS Distribution: With each new block a GAS is created. The starting amount of GAS us zero but as time moving and with the increase in block generation prices it is expected that the total limit of 100 million GAS will be achieved in next 22 years. 2 million blocks are created each year.
Team Members of NEO?
The main members consist of the:
Da Hongfe: Founder of NEO and CEO of NEO blockchain.
Zane: Co-founder and core developer
Tao Rongqi: The Secretary-General
And other operators and team contributors.
So, Let’s see how you can Buy Neo Coin.
How To Buy NEO Coin Cryptocurrency?
You can Buy NEO Coin using your Bitcoin or any other cryptocurrency almost instantly. However, Buying NEO with fiat currency is still a pain.
To Buy NEO using Changelly you just need to perform three steps:
- Selection the Currency Pair
- Enter your NEO wallet address where you wish to get NEO coins
- Send your Bitcoins or Altcoins to the given address
You can read the step by step Changelly guide to know the exact process.
Buy NEO with Shapeshift
Shapeshift is similar to Changelly but here you do not need to create an account.
Straight away go Shapeshift and Instantly convert your currency for NEO coins.
You can also Buy NEO coin from various Crypto Exchange aswell:
Many Chinese exchange like 19800, Yobtc, Yuanbao, BTCC etc used to sell Neo but now they have stopped due to Chinese government policies.
Where To Store NEO Coin?
Before you buy NEO, make sure that you have a NEO wallet to store your coins. Let me quickly guide you through the creation of wallet without any delay.
Since, NEO prices are rising in the last few days, almost rapidly rising with a rate of 100% in the last few trading days. Many NEO investors are storing their NEO coins.
The best way to keep your currency safe and secure is to store them in an offline wallet.
There are existing three options for NEO investors to store their coins.
- On a personal computer(Desktop Wallet)
- On website(Online Wallet)
- On your phone app(Mobile Wallet)
We have already covered the Best Neo Wallets that you can use to store NEO.
What makes it different from Bitcoin?
The biggest differentiating feature is the two-tiered system of ANS and ANC. At the time of writing (September 2017), it’s impossible to trade and buy ANC, except Chinese-specific markets.
Instead, users must buy ANS which, in essence, is their stake in the future of the platform (hence the name before the rebranding to Neo: “Antshares”). The beauty of the two-tier system comes into play the moment you transfer ANS to your Neo wallet.
While holding ANS, you start generating ANC (or Gas) automatically as more blocks are discovered and registered. This is similar to Ethereum but very different from mining in bitcoin in that the value of ANC is decoupled from the value of ANS.
This is in contrast to Bitcoin, where the value of a bitcoin mined is the same as the value of a bitcoin purchased.
ANC will be used as transaction fees when people start making payments using the Neo network.
Why Is NEO Next Big Thing In The Crypto World?
NEO is one of those few coins out there that are going to be ultimate wealth generator to many of us. Isn’t it great to hear?
Investors and other users are loving this new platform and other suspected investors are showing a great interest towards NEO.
So do you want to know if the NEO is the right platform we’ve been waiting for? Will it change the global scene of financing?
NEO uses the old basket of currencies and is popularly known as Fiat. To approach a blockchain NEO takes a different step. The initial thing is that NEO really doesn’t have crypto-coins. The objective is to connect a bridge to the old system of financing that consists of smart contract, digital identity with certificates too.
So what’s the medium of exchange that allows everyone to earn a considerable amount of money?
NEO coin is one such coin. NEO is originally a traditional security. Like Ethereum, NEO also uses GAS to operate or run the platform more effectively and efficiently, but it’s a Fiat coin that purchases GAS to establish smart contracts. NEO is more focused on the traditional idea that money needs to be a “stable store of value”
NEO runs on Fiat coin that allows traditional financing to use the evolving technology of smart contracts. NEO is targeting a way forward and upgraded smart contracts to eradicate or reduce complex condition all across the globe.
The one strong point about NEO that it has its own programming language for their developers.
Many of you are trying to gain some knowledge and allocate your investment to a good path. NEO is one such path that you can follow to allocate your resources. NEO provides a trustworthy blockchain network for your digitalized assets with your own digitalized identity.
NEO blockchain is also quantum computer proof which gives it an upper hand in comparison to other projects of the blockchain. Also, the recent high price from $6 to $12 in a few days makes to top 10 market cap surpassing many other cryptocurrencies thus giving the signs of its acceptance.
NEO Official Links
Here are some of the resources link:
- NEO Reddit
- NEO GitHub Whitepaper
- Twitter @NEO_Blockchain
- Facebook @NEOSmartEcon
- NEO on Slack
- NEO Blog
So would you invest in NEO? Do share your thoughts about this technology.
Also ra d out other guides:
- SiaCoin Cryptocurrency – Everything You Need to Know!
- Best Android Wallets for Bitcoin
- Best Ethereum Wallets to keep ETH safe