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The NEO digital asset platform was previously called Antshares. But in recent times, a complete rebranding has been made. In addition to the name change, the startup updated blockchain nodes and technical documentation, as well as the stock Ticker. In addition, the official website and social media were redesigned. The transition to a new version of the smart contract system, called NEO-2.0, was carried out.
The NEO cryptocurrency has been showing stable and non-stopping growth for a long time. Very quickly, the Chinese creation took seventh place in the top of Coinmarketcap. This, without a doubt, is a serious bid for prospects, given the high competition in the cryptocurrency market. And Ether confidently holds the second line after the famous Bitcoin. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line.
At the moment, the price fluctuates around $45. The cost for three months has increased 20 times.
The volumes of neo cryptocurrency reserves are clearly defined and limited to 100 million tokens. So far, only half of the available potential — 50 million tokens-is available on the market. So the crypto currency NEO clearly has all the chances to rise much higher than the seventh line.
The project is actively developing. OnChain cooperates with other players in the field of cryptocurrency and blockchain technologies. At the moment, there are connections with blockchain startups Coindash, Bancor, Agrello and others. The Chinese project Red Pulse has announced the creation of a financial research platform based on the NEO-2.0 smart contract system. Also, in cooperation with NEO, there is an intensive development of The Elastos operating system based on blockchain technologies.
THE history of the emergence and development of neo cryptocurrencyhttps://preview.redd.it/2f7c6ryop1v31.png?width=1280&format=png&auto=webp&s=300b03be2a471d857d7d22d5659f2a4ef74c5e8b
The date of origin of the project can be considered 2014. NEO Creator Da Hongfei is a Director of Shanghai-based OnChain. In 2014, onchain, according to Da Hongfei's idea, launches the AntShares blockchain project. On the basis of this platform, a cryptocurrency of the same name was also created.
Yes Junpei put to the company is simple, but a global problem. His goal was to build a fundamentally new system of financial interaction. This system should unite the sectors of the real and virtual economy into a single whole with the help of high-tech contracts. And cryptocurrency from OnChain should become a unit of payment for these contracts.
Soon OnChain enters into a contract for cooperation with the Wings blockchain project, as well as contracts with economic giants Microsoft and Alibaba.
In August 2017 begins the story of NEO already in its current form with the current name. Da Hongfei carried out a complete rebranding and technical modernization of the project. The rebranding was a huge success, and the price of cryptocurrency from OnChain soared 40 times.
But not without problems. On the fourth of September, the Chinese authorities adopt a package of sanctions laws against cryptocurrencies and ICO. It was a heavy blow, which at the time almost 2 times brought down the course of the brainchild of Hongfei. However, soon the NEO cryptocurrency moved away from the blow and began to confidently win back the lost positions. At the moment, OnChain is actively upgrading the product and simultaneously trying to find a compromise with the Chinese authorities for the legalization and quiet operation of its offspring.
Features and principle of operation NEOhttps://preview.redd.it/tj1goppoq1v31.png?width=800&format=png&auto=webp&s=0c39d14754ba9dd99e2c6bfb692f0f7bdd6c1838
From a technical point of view, the Chinese cryptocurrency is very similar to Ethereum. The basis of the platform is the construction of smart contracts and their subsequent payment with tokens. Also an important part of the project is the ability to create new technologies based on the platform, as well as easy integration with other services.
Despite the fact that NEO is often called "Chinese Ether" and the fact that the Ether still occupies a higher position in the ratings, the product from OnChain has advantages that the Ether lacks. NEO is much more practical and functional. This, no doubt, opens up the potential to move the Airwaves in the ratings in the near future.
Let's see in detail how everything works. Transactions within the system are possible when paying a Commission. The Commission is paid in-system currency. That is, for the transaction you have to throw in the system additional "fuel". The developers of OnChain decided to create an additional in-system currency, called GAS, as a fuel (a means of paying commissions).
NEO mining is impossible. There is a final coin value of 100 million. 50 million thrown on the market during the ICO. The second half of the developers keep at home. However, GAS mining is possible. However, it occurs when holding coins in a purse. That is, the more tokens you have, the more GAS coins you can get to pay commissions. Today, 2000 coins in the wallet accumulate 1 coin GAS every twenty-four hours. Such mining is associated with the work of the network on the Proof-Of-Stake algorithm. Coins generate themselves. Without the use of farms of video cards and megawatts of electricity.
Like any cryptocurrency, NEO has advantages and disadvantages.
The benefits of NEO:
Difference between NEO and Bitcoinhttps://preview.redd.it/qm9q0kmft1v31.png?width=1024&format=png&auto=webp&s=81bc03a4521b12f6e517b9ef8f905d8271041355
The main points that distinguish NEO from Bitcoin:
NEO storage walletsOn the official NEO website you can find links to the following wallets.
NEO: buying and sharinghttps://preview.redd.it/5ovlowr3v1v31.png?width=750&format=png&auto=webp&s=ea4c20d0be463cbaaf14846db2355b77975cd296
NEO can be bought and sold on exchanges or exchanged in multi-currency wallets. The most famous exchanges:
Ways to get NEOUnfortunately, at the moment there is no way FOR direct NEO mining in the manner of Bitcoins and Ether.
However, there is a way out. NEO cranes can be used. Cranes are resources where the user receives a cryptocurrency reward for performing certain tasks or participating in lotteries.
There is a high probability that if successful in the legalization negotiations, OneChain will provide additional ways to get their tokens.
As you can see, NEO is a very promising and rapidly developing cryptocurrency. And although the Chinese government has created some difficulties, on the example of Bitcoin, we see how high the rate of the crypto currency can rise if the factors interfering with the development disappear. So, the prospects of NEO are optimistic and you can risk investing in them.
What many people forget is that common nodes can enforce a (strictly) looser rule set than mining nodes, and still be guaranteed to track consensus. We use this often-overlooked fact to our advantage when rolling out soft forks: after the miners begin enforcing a new rule, non-upgraded common nodes will be enforcing a looser rule set until they upgrade. We know from experience that this situation—where some nodes enforce less rules than the mining majority—is both safe and a practical way to reduce the coordination required to implement protocol upgrades.Incidentally, I've tried to post on this topic twice before and both emails were also rejected. See here and here.
Classic (and Unlimited) are using this fact that common nodes can enforce a looser rule set to reduce the coordination required for a future increase in MAX_BLOCK_SIZE. It is a commitment strategy that allows node operators to signal their preferences to the network. As more and more node operators stop enforcing the 1 MB limit, it will gradually become much less risky for miners to try mining a block larger than 1 MB to see if it is accepted into the Blockchain.
For the market for consensus to function properly and allow Bitcoin to grow, node operators are encouraged to stop enforcing any rule they believe is hindering Bitcoin. They don’t need to ask for permission or wait for “consensus." If enough node operators feel the same way, then that rule will no longer be a rule.
Best regards, Peter
@3:00 "So anybody that thinks that high fees, and slow confirmations and full blocks are a good thing for bitcoin, they are plain and simple wrong and they don't understand the things that make bitcoin useful as money."
@3:14 "And people talk about, well bitcoin is a store of value. Well the only reason people want to save money is so they can spend it later and if bitcoin becomes not usable as a means of exchange so people won't want to save their wealth in it either...If bitcoin can't be used a medium of exchange, it won't be used as a store of value"
@6:30 "Either they can mine an empty block during that time period while the block is being propagated and validated or they don't mine at all so as a miner its very very clear it would be better to mine an empty block and get the 12.5 coins from that than to not mine at all during that period and have no chance of getting a block..."
[continued] "...Its actually a nice way of slowing the network down from getting ahead of itself, if the blocks are too big and they are propagating around and its taking too long for people to get a whole copy of them the fact that a pool is mining an empty block, it lets rest of the network catch back up because the empty block propagates very quickly and it can be validated very quickly so it lets the whole bitcoin network catch back up to where things are supposed to be. So its actually kind of a nice safety valve for slowing the down the speed of the transaction rate on the bitcoin network if needed."
"@8:30 So right now the block size is set by a couple dozen core dev who decided who have decided the maximum size is 1MB"
@9:30 "Also, all the mining pool operators are running nodes as well and those are the ones that actually secure the network and validate the blocks and do that"
@9:47 "That's probably why this whole debate hasn't been settled already because there is not any one specific place you can point too and say this is who is in charge of solving this issue."
@10:40 "as were seeing from this current scaling debate there is this huge huge huge motivation for everybody to stay on the same chain and be part of the same bitcoin network, so even once the users are able to configure this themselves, I think 99% are still gonna stay on the same chain"
@12:55 "The developers at bu come up with an amazing technology called extreme thin blocks"
@15:20 "I think bitcoin mining is more decentralized than ever"
@18:02 "The things segwit solves/the issues it addresses aren't things that need to be fixed urgently"
@20:02 "If you're hard forking for a good reason, it's not contentious"
@20:58 "Lets say it somehow splits at 50/50 .... blocks will take 20 minutes to confirm. The transaction capacity will be half."
@23:14 "And if you have an opinion like i do on this as to which version of bitcoin is the better one. I will sell my coins on the slow expensive core chain...bitcoin unlimited coins will be so much more useful because you actually be able to send and receive them with people unlike the bitcoin core coins on this congested network that cost a fortune and take for ever to move the bitcoins"
@30:52 "And the miners, the majority if their income is from the block reward and not from the fees on the network and the will continue to be the case for like the next 100 years."
@31:02 "And its worth pointing out that the bitcoin unlimited guys they are not opposed to layer 2 technologies at all, we're excited about layer 2 tech...but our point is don't strangle bitcoins layer that brought us from nothing to where are today"
@32:12 "Whereas a lot of the core developers today are actively saying that they want to damage the bitcoin that brought to where we are today"
@33:16 "People that are part of bitcoin core are part of bitcoin core are openly and intentionally advocating for high fees and full blocks, thats kryptonite for bitcoin"
@38:12 "So for me I think its time to switch to BU, A dev team that understands why bitcoin is useful as money"
@40:23 "the bitcoin core camp seem to think that bitcoin will only be used as a store of value, so they are undermining its usefulness in commerce"-huh?
@44:40 [Regarding BU Bug Fix removed from /bitcoin] "I think everyone involved with bitcoin should condemn that sort of activity"
@49:06 Right now you can run bitcoin on a raspi for $25
@49:12 "My understanding of their side is...I guess they have 2 [concerns]...One concern they have is that they think that bitcoin network is going to become centralized."
(paraphrased) Bigger blocks = more people = more decentralization
"As soon as the user experiences started to decline (slow confirmation, high fees), adoption has started to decline"
@51:50 "bu will have bitcoin.com"
Bitcoin-Mining ist ein Geschäft mit einer sehr grossen Konkurrenz. Mining macht nur Sinn, wenn Sie es aus Spass machen und es Ihnen nicht so wichtig ist, ob Sie Profit daraus schlagen. Es ist aber auch möglich, dass Sie es sehr effektiv betreiben und davon profitieren. Um Bitcoin Mining zu betreiben, müssen Sie einem Miningpool beitreten, was zusätzliche Kosten verursacht. Für das Mining benötigen Sie entsprechende Hardware. Auch hier kommen Kosten auf Sie zu. Je nachdem, wie leistungsfähig Ihr Bitcoin Miner sein soll, zahlen Sie bis zu 2.000 Euro. Es ist nicht bekannt, ob sich Mining auch in Zukunft noch lohnen wird. Wenn Sie nicht genau wissen, was ... Bitcoin Mining ist ein Prozess, bei dem Rechenleistung zur Transaktionsverarbeitung, Absicherung und Synchronisierung aller Nutzer im Netzwerk zur Verfügung gestellt wird. Das Mining ist eine Art dezentrales Bitcoin-Rechenzentrum mit Minern auf der ganzen Welt. Dieser Prozess wird analog zum ... Crypto skeptics have always hailed quantum computing to be a Kryptonite for Bitcoin. But the world still hasn’t seen a fully-operational quantum computer with commercial implications to truly challenge Bitcoin’s dominance as a digital currency. As per Anastasia Marchenkova, a quantum physicist, the... In Bitcoin and other altcoins where the full blockchain is required to synchronize with the network, small value transactions and transaction messages tend to be discouraged because they cause “blockchain bloat”. The scalable nature of the mini-blockchain scheme relieves us from the concern of blockchain bloat and we can have full support for transaction messages and micro-transactions ...
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