Home » Crypto » What is Neo Coin and how does it work?

What is Neo Coin and how does it work?

by Financial Economy

NEO coin, also called China’s Ethereum, is an open source blockchain project. NEO coin aims to strengthen digital assets. NEO is available for purchase on many exchanges but is not universally available. On the other hand, NEO is not supported by some platforms such as Coinbase. More information about what is Neo Coin and how does it work is in rest of the article.

What is Neo Coin and how does it work?

NEO was developed by Onchain, a Shanghai-based company. Originally called “Antshares”, the coin was recently named NEO. Neo coin is a crypto currency platform that has become a brand. You can browse here for information about Basic Attention Token (BAT).

It is a platform that supports smart contracts, called “China’s Ethereum” because it provides similar functionality, including support for dApps and ICOs. Although it is similar to Ethereum in some ways, it can be encoded in many languages ​​such as JAVA, C / C # and GO, but it is necessary to use its own Solidity language with Ethereum.

Similar to Ethereum’s Ether, “NEO” token is the currency used by applications in the system and has a rewarding system called “GAS”. Owners of NEO receive rewards in the form of GAS and can be purchased separately.

Neo Coin’s advantages!

Neo is completely different from those offered by other crypto currencies, especially Ethereum, and has some advantages. Smart economy; It consists of digital assets, digital identities and smart contracts. It is thought that using the smart economy, it will be possible to digitize physical assets on the blockchain. Once digitized, they can stay on the blockchain and enjoy benefits such as decentralized, transparent, reliable and traceable. Anyone can record an asset.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

Related Posts

Leave a Comment