China’s very own digital currency, NEO, which was formerly known as Antshares’ has risen up
to become one amongst the top 10 cryptocurrencies. The inventors of this company would like it to be described as ‘China’s first public blockchain’. This week, it moved up the scale, from being in the top 15 list, to the top 10. The virtual coin’s token value has escalated from -$10 to more than $20 and it’s market cap has surged up to more than $900 million.
NEO which is usually considered to be similar to Ethereum, was first initiated in the year 2014, by Da Hongfei. Currently, the company has just completed rebranding it’ s strategy in order to become number one in the blockchain technology around the world. From Antshares 1.0, it has become NEO smart contract system 2.0, by upgrading its blockchain nodes, social media official site, technical documents, and establishment of name exchange worldwide. Right now a neck and neck race is happening between Ethereum and NEO. Though both the companies provide the base for running a programming code for a decentralized application, there are a few differences. NEO allows the user to work on more advanced compiler languages, like Python and Go. The most important advantage of this cryptocurrency is that it has NEO contract, that supports several computer languages such as C# and Java. This makes it more user-friendly as developers don’t have to learn a new language to use it.
NEO has created it’s very own virtual kingdom, and this makes it stand tall and unique among its peers. It has legalised digital assets, created smart contract, which enables easy exchange of money, content, property, shares, or anything of value and to top it all a digital identity that can be used for real-life applications, thus becoming a part of the real economy. It has also introduced interesting new features such as cross-chain protocol, quantum-resistant cryptography, a distributed storage protocol and a secure communication protocol. The project has also added PC web and mobile apps and this makes it even more cooler. Since its successful update of its full smart contract system, it has attracted several start-ups, like Bancor, Coindash and Agrello, to work on it’s platform.
Da Hongfei has told Bitcoin Magazine, about NEO’s progress “NEO’s development hinges on two important teams: one is the Shanghai-based development and management team, while the other is an international team called “City of Zion,” purely supported by the community, thanks to a huge number of volunteers for NEO. The community just volunteered to translate the video and other materials into multiple languages. Furthermore, the technical white paper has also been translated by the community into English, Spanish, Japanese and Korean. We are especially grateful to the community, which will remain the core of NEO’s development in the future.”
With more number of Cryptocurrencies, the finance sectors have started to feel insecure and backward, because of the several applications that it offers, the easy transaction methods without any limitations and highly secure. Yet, these digital currencies are still babies and have
a very long way to go before capturing the whole economy of the world.