What is NEO Coin?
NEO is a network that uses Blockchain technology to create an infrastructure framework. NEO Coin is dubbed the “Ethereum of China,” It is also China’s first open-source code. NEO’s mission is to reinvent and change the way commerce is done. NEO has been created to transform the traditional economy into the new era of the smart economy.
History of formation and development of NEO
NEO (formerly known as Antshares) was launched in June 2014. The founder of NEO is Da Hongfei – CEO of Onchain.
By June 2017, Antshares was renamed NEO. The name NEO is derived from the Greek word.
NEO’s partners include WINGS platform crowdfunding organization and Microsoft corporation. In particular, NEO is Alibaba’s partner to provide blockchain technical support for Ali Cloud.
Da Hongfei has drawn the future of blockchain technology whereby every asset will be digitized and programmed with smart contracts after announcing NEO’s new brand and strategy.
The consensus mechanism of some popular coins like Bitcoin Ethereum is “One Man Bookkeeping,” meaning that one node can perform all the “bookkeeping” jobs under certain conditions. of a block. The historical version that receives the most votes when a fork occurs becomes the new consensus.
In contrast to “One Man bookkeeping,” Join Bookkeeping” is an election before the event. Accordingly, NEO uses this form of Join Booking.
The nodes that perform “bookkeeping” are at the heart of the NEO blockchain, gaining the trust of NEO in reaching consensus and generating new blocks.
In addition, “Joint bookkeeping” requires confirmation of the identity information of each node to be able to assess its credibility and technical ability, as well as to serve the investigation when necessary.
Therefore, it can be seen that NEO has a higher “concentration” than many other cryptocurrencies. This is not very appealing from the cryptographic aspect, but this makes it possible for NEO to build a more stable, simple, and normative system. That is also why NEO is readily accepted for use and avoids strict legal troubles with the Chinese government.
NEO Achievements NEO has made
significant achievements since launch:
- NEO is working with certification authorities in China to map physical assets using smart contracts.
- Receive new patents for interoperability distribution chain regularly
- Partners NEOincreasing, including Bancor, Agrello, Coindash, Nest Fund, Binance, etc.
The storage type for best NEO
Kienthuccoin will introduce the seven most popular NEO wallets:
NEON Wallet is the most secure NEO wallet that allows you to store NEO and receive GAS. Users will not need to worry about their private key because the wallet software does not keep it on the NEON Wallet server.
NEON Wallet is compatible with Windows, Mac, and Linux operating systems.
Hardware Wallet with Ledger Nano S
Ledger Nano S is the perfect choice if you want to hold NEO in the medium or long term. This is a personal computer wallet software developed by the NEO team. This wallet type works with the NEON Wallet. Users can also get GAS by combining Ledger Nano S and NEON Wallet.
To use the Ledger Nano S wallet for NEO, do the following:
- Connect the Ledger to your computer.
- Install NEO app on chrome app
- Click on the NEO icon on the Ledger wallet, showing “Wake up NEO.”
- Open NEON wallet and choose to login with Ledger.
- The display shows “Found UBS Ledger Nano S Success”. NEO App Found on a Hardware Device. Click Button Above to Login”.
- Click “Use Ledger Nano S” to log in to the NEON wallet.
- When you receive GAS or make any transaction sending NEO or GAS, authorization is required through Ledger Nano S. This feature is used to ensure the safety of your NEO and GAS.
Desktop Wallet with NEO GUI
It takes some time for the NEO GUI to sync with NEO blockchain data. Once this process is complete, you can create a new wallet with password protection and back up the wallet by encrypting the private key in WIF or HEX format.
The software is currently compatible with Windows 7 SP1 and later.
Web Wallet with NEO Tracker
NEO Tracker wallet is compatible with the Chrome/Edge browser.
NEO Wallet is a lightweight wallet maintained and developed by the NEO community. Developed as a web wallet but does not collect any information about the NEO Wallet server. In addition, this type of wallet allows backups to control private keys.
Users can send/receive both NEO and GAS and request for GAS corresponding to the amount of NEO holding.
NEO Wallet is compatible with the Chrome/Edge browser.
Desktop Wallet with NEO CLI
NEO CLI is the official NEO wallet maintained and developed by the NEO team. With this type of wallet, users will not control through an interface like GUI but through commands. This wallet is suitable for those who specialize in Command language. At NEO CLI, you can send/receive both NEO and GAS to confirm GAS token generation if you hold NEO.
Paper Wallet with Ansy
Ansy is a paper wallet with public key and private key information printed on it. Users can use the public key/private key to send/receive NEO. You can store and use NEO and GAS but not receive GAS with this wallet.
Above is the article “What is NEO coin? Complete set of NEO token project” by Kienthuccoin. I hope you get a lot of helpful information about this project.
What are some frequently asked questions about the NEO coin?
Where to buy, sell, trade NEO Coin?
NEO coin has been listed on seven major cryptocurrency exchanges worldwide, such as Binance, Bittrex, Okex, Bitfinex, etc. Binance has the most significant trading volume supported by the community. Most used by traders and investors. This shows that NEO has a great attraction with investors.
To buy, sell or trade NEO Coin, you just need to buy Bitcoin (BTC) and deposit it on exchanges, then use BTC to buy NEO or buy BNB first and then buy NEO to get 50% off transaction fees.
How to invest in NEO Coin?
Investing in 1 token/coin is as simple as buying NEO Coin price is low and selling at a higher price to profit. Users need to observe the buying and selling needs of that coin, then know when is the right time to buy and sell NEO Coin.
Should you invest in NEO?
NEO cryptocurrency is a young coin, but thanks to its outstanding features, it has won the hearts of many investors, causing many users to start focusing and paying attention to this coin. Therefore, it can be predicted that NEO will go even further in the future, becoming a good value and reputable cryptocurrency in the market.
The most important thing for the NEO coin is that the Chinese government has accepted the platform. It is also separating itself from other digital cryptocurrencies like Ethereum and Bitcoin. This legalizes the NEO platform and keeps it out of the Western market.