Formerly known as Antshares, NEO coin was launched during June of 2017 by Da Hongfei. NEO is a cryptocurrency/blockchain platform which was established to digitize assets using smart contracts which is essentially a smart economy and withhold a philosophy of exploring a blockchain based future. NEO coin also aimed to become the number one blockchain project by year of 2020. The word NEO comes from an ancient Greek Prefix which bears the meaning of new, modern and youth. To some veterans in the crypto community, they might discover that the philosophy of NEO is awfully similar to Ethereum. In fact, NEO was most known for its monumental growth and being identified as The “Chinese Ethereum” among the crypto community. Both Ethereum and NEO are platform of smart contract development which are devoted to popularize blockchain technology and achieve mass adoption. NEO supports common general purpose programming languages such as Javascript and C++ , making it less susceptible and vulnerable to hackers unlike Ethereum.
With all the hype around NEO, it boils down to a simple yet extremely significant question, what is the competitive advantages of NEO which make it stood out among all the other competitors ? Firstly, Neo allows the conversion of traditional assets into decentralized digital assets with the help of smart contracts. Secondly, the presence of digital identity on the NEO platform allows individuals and businesses to create their own digital identity information. The security of these digital identities are greatly enhanced by the fact that they can be integrated with multi factor authentication system including but not limited to sms and biometrics such as fingerprint and voice recognition. Thirdly, the revolutionary smart contract system provided by NEO platform support common programming languages. This is a huge deal for majority of the programmers out there as they would not have to pick up a new programming language to use NEO. This is a major pulling factor which could potentially draw in lots of programmers. Furthermore, more mature tools and useful techniques can be developed through the continuous development of Dapps (decentralized applications) on the NEO platform, which is crucial for the mass adoption of Blockchain technology.
To gain a deeper and more comprehensive understanding on NEO, the PDF of NEO Whitepaper is included here for reading and download purpose.
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