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About Neo (NEO)
What Is Neo?
The Neo blockchain is an open-source, decentralized platform that allows developers to create and deploy decentralized applications (DApps) and smart contracts. Given its functionalities and the country of its origin, it's often referred to as the "Chinese Ethereum". This association highlights its similarities with the Ethereum blockchain in terms of supporting DApps and smart contracts.
Neo was founded in 2014 by Da Hongfei and Erik Zhang with the name Antshares. The platform was launched in 2016 by a Chinese company known as Onchain. In 2017, it was rebranded to the current name, Neo.
Resources
Official Whitepaper: https://docs.neo.org/docs/en-us/index.html
Official Website: https://neo.org/
How Does Neo Work?
Dual-token Mechanism
Neo's architecture incorporates a dual-token system: NEO and GAS. While NEO represents ownership in the Neo network, GAS is used to fuel transactions and smart contracts. This separation ensures that the governance of the platform remains separate from its consumption for computational purposes.
Consensus Algorithm
Neo uses a unique consensus algorithm called the Delegated Byzantine Fault Tolerance (dBFT). Instead of relying on energy-intensive mechanisms like proof-of-work (used by Bitcoin), dBFT allows certain nodes, called bookkeepers, to validate transactions. This system provides finality in transactions, preventing forks, and making the network more energy-efficient.
Smart Contract System - NeoContract
One of Neo's standout features is its smart contract system, termed NeoContract. Unlike Ethereum, which requires developers to learn a new language (Solidity) to write contracts, Neo's system is compatible with popular programming languages such as C#, Java, and Python. This inclusivity encourages mainstream developers to engage and build on the platform.
What Is NEO Token?
NEO is one of the two native tokens of the Neo blockchain. Holding NEO gives users a stake in the network, meaning they have a say in its governance. NEO holders can vote on network parameter changes and also for the bookkeepers.
A unique feature of NEO is that it's indivisible. Unlike Ethereum or Bitcoin, where you can own fractions (like 0.5 ETH or 0.001 BTC), you can only own whole numbers of NEO. This design aligns with its purpose as a governance token, where each NEO represents a vote.
Neo's Impact on Finance
Marking its presence as the "Ethereum of China," Neo has revolutionized perspectives on finance, especially in the Asian sphere. By foregrounding the potential of smart contracts and DApps, Neo poses a challenge to conventional financial paradigms. Its conceptualization of a "smart economy" integrates digital assets, identity, and smart contracts for streamlined transactions. Moreover, Neo's distinctive take on the digitization of real-world assets adds a transparency layer, fostering trust that traditional systems often lack. This modern approach not only simplifies asset transfers but also guarantees clear ownership. As Neo redefines the financial canvas, it pushes for greater efficiency, security, and reduced dependency on intermediaries, championing a more decentralized, holistic financial ecosystem.
What Determines Neo's Price
In the dynamic world of cryptocurrencies, the NEO price today is influenced by a myriad of factors that potential investors should keenly observe. As a cornerstone in the development of a smart economy, NEO's blockchain technology stands as a beacon in the digital asset space. The NEO token price is intricately linked to its unique features and robust infrastructure. The NEO blockchain, often referred to as the "Chinese Ethereum", has carved a niche for itself by offering a platform that is not only developer-friendly but also regulatory-compliant, factors that are pivotal in determining the NEO cryptocurrency price.
The NEO market cap has witnessed substantial growth since its inception, with its innovative approach to digital identity and asset management playing a significant role. Investors keeping an eye on the NEO price chart would note that the current NEO price is reflective of its strong foundation and the potential for further expansion in the smart economy space. The NEO blockchain operates with a dual-token system, NEO and GAS, which respectively facilitate network governance and transaction processing, elements that are crucial in NEO price analysis.
As enthusiasts and investors keenly follow the NEO price live, it's essential to note the role of NEO's consensus mechanism, the Delegated Byzantine Fault Tolerance (dBFT), in fostering a secure and efficient network. This mechanism, which significantly enhances transaction speeds, is a vital determinant in the NEO price prediction. Moreover, the recent launch of the N3 blockchain version, a significant upgrade that promises lower gas fees and increased transaction speed, is expected to have a positive impact on the NEO price forecast.
In conclusion, the NEO token price today is shaped by its innovative features, developer-friendly platform, and its commitment to fostering a smart economy. As NEO continues to evolve, offering a secure and efficient platform for the development of decentralized applications, it stands as a promising investment avenue in the cryptocurrency space. Investors looking to delve into the NEO ecosystem should keep abreast with the latest NEO token news and NEO crypto price prediction to make informed decisions. The journey of NEO, marked by its resilience and innovative strides, paints a promising picture for its future, potentially reshaping the NEO price history with new milestones.
NEO to local currency
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How to buy Neo(NEO)
Create Your Free Bitget Account
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Buy Neo (NEO)
Trade NEO perpetual futures
After having successfully signed up on Bitget and purchased USDT or NEO tokens, you can start trading derivatives, including NEO futures and margin trading to increase your income.
The current price of NEO is $15.15, with a 24h price change of -0.37%. Traders can profit by either going long or short onNEO futures.
Join NEO copy trading by following elite traders.
Neo news
"Zombie cryptocurrencies" collectively surged, leading the cryptocurrency market.
Neo Social Data
In the last 24 hours, the social media sentiment score for Neo was 4, and the social media sentiment towards Neo price trend was Bullish. The overall Neo social media score was 1,610, which ranks 374 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Neo being mentioned with a frequency ratio of 0.01%, ranking 533 among all cryptocurrencies.
In the last 24 hours, there were a total of 690 unique users discussing Neo, with a total of Neo mentions of 69. However, compared to the previous 24-hour period, the number of unique users increase by 27%, and the total number of mentions has decrease by 47%.
On Twitter, there were a total of 1 tweets mentioning Neo in the last 24 hours. Among them, 100% are bullish on Neo, 0% are bearish on Neo, and 0% are neutral on Neo.
On Reddit, there were 3 posts mentioning Neo in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% .
All social overview
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