What is NEO?
Antashares was the original name of the Neo platform. The name “Neo” was given to the platform in summer 2017. It’s the leading open-source platform and cryptocurrency of China. Neo is so similar to the famous platform that it’s being called “Chinese Ethereum” sometimes. Neo was invented to build a scalable network for Dapps. Neo has a special dual-token ecosystem which operates ideally with ICOs and Dapps. Additionally, NEO has a special dBFT (Delegated Byzantine Fault Tolerance) consensus algorithm, that’s why the NEO is quicker than Ethereum and Bitcoin. NEO wants to make conditions close to ideal for the smart economy, so users are going to be able to trade digital assets based on two things: digital ID and Proof of ownership. It also tries to be developer-friendly chain as much as it’s possible. For achieving the goal, NEO does some really important steps like a cryptographic feature which protects the system from different attacks known as NeoQ, the file storage called NeoFS, NeoX which provides operations on numerous blockchains and NeoContract which is the unique function for smart contracts on the platform. Despite the fact that China has an embargo on cryptocurrency trading, the government of China has adopted the NEO platform and it proceeds its expansion on the offshores. Numerous specialists think that NEO is reliable for long term investments.