NEO – user identification
What is NEO ?
NEO has another name that is not official – “Chinese Ethereum”. NEO and Ethereum are similar in many ways, but NEO has a number of features. NEO until 2017 had a different name – Antshares. It was launched back in 2014 by two programmers – Eric Zhan and Da Hongfei. After the name change, a successful ICO was held, the offer of which was in the amount of 100 million coins. NEO coins are used as an internal settlement currency in the ecosystem, which is needed to automate various business processes. The NEO blockchain has three main components:
- A place to execute and develop smart contracts;
- Peer-to-peer systеm for direct exchange of electronic currencies;
- A systеm that identifies entrepreneurs and real assets.
The main goal of NEO is to introduce blockchain into the real sector of the economy. Also, unlike the Ethereum cryptocurrency, which only works in one language – Solidity, NEO supports many different languages. A smart contract or a decentralized application can be launched in one of the popular programming languages, the choice of language is up to the user. It should be noted that NEO is quite a powerful and fast cryptocurrency from a technical point of view, its throughput is about 1000 transactions per second. The NEO network security systеm works on the Byzantine Fault Tolerance (dBFT) principle. The principle of the dBFT algorithm is very different from standard PoW and PoS – blockchain chains cannot physically form in parallel, which greatly enhances security. Here another feature of the NEO network manifests itself – anonymous users cannot participate in block validation. Anyone who claims to participate in this process must first go through an identity verification procedure. The systеm has a digital identification.
NEO Mining
The company has decided that its NEO cryptocurrency does not support mining.
How to buy NEO?
If you want to own NEO coins, you can buy them on a crypto exchange or through a crypto exchange such as Leoexchanger!
NEO price dynamics (USD)
As of August 2022, 1 NEO costs approximately $9.15. The total market capitalization is $645,420,704.
The price movement chart is shown below:
How to store NEO?
Basically, there are two main options for storing NEO – in your crypto exchange account or in your crypto wallet. If you are an active trader, it is most convenient to choose an account on a crypto exchange.
