Introduction to NEO (NEO)

Neo is known as the Ethereum of China, but the token formerly known as Antshares has some differences to Ether, apart from the obvious similarity of being a smart contract platform. The main difference is that Neo is being developed as a blockchain for a smart economy, what translated in simple words means that there will be no anonymity.

It’s great to have privacy, but if we want companies and governments to be on the blockchain, that is not possible. Digital identity to comply regulations is a necessity, and Neo is aware of that and being developed in that sense. It’s pretty much like if Neo was being built having Civic already incorporated.

To be used by the Chinese everything needs to be clearly identified, so I believe Neo is positioning itself to be adopted by China. We know how China promotes their own products, so this would to be a major plus for Neo.

As a platform, Neo can have ICOs, and if there are already a few of them right now, this number is expected to grow overtime. Neo aims the global market – what is proven by the visits they made all over Asia, Europe and the USA.

The major strength of Neo lies in their compliance with governments, something that will make adoption easier, and it might take it to a general adoption level faster than other cryptos. Answering governmental demands is a necessity for global adoption.

There are other advantages apart from the smart economy, and the really cool Neo name – especially for the Matrix movie fans. To start with, Neo gives dividends in the format of GAS, another separate coin. But maybe the biggest advantage is the superior speed when comparing to Ethereum, which is much due to their DBFT protocol instead of the POW.

What does exactly mean that Neo has a faster speed? It’s all about scaling and how fast the blockchain can be. The speed differences are considerable (Ethereum 30 transactions per second, while Neo close to 10.000), and this can make the whole difference between being able to accommodate a smart economy and scaling or not being able to.

Obviously that there are also concerns about Neo, namely being second comer after Ethereum, and if it will ever get out of its shadow. Other concern – and at the same time it’s biggest potential – is the fact that Neo is from a country where exchanges and ICOs are banned.

The goal of banning this is related with control, China wants to control blockchain, and it might use (or might not) Neo for that purpose. If China selects Neo as it’s blockchain platform for the smart economy, in that case, sky is the limit.

This is a brief introduction to Neo, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!