The NEO cryptocurrency is among the many being traded in this new and exciting money market. The blockchain platform was intended to provide a network which is scalable through applications that are decentralized. NEO has good history of gaining more than 20% in a day.
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NEO was the brainchild of Da HongFei and Erik Zhang who founded the AntShares back in 2014. Developed using C#, NEO has a block time of between 15 and 25 seconds. This cryptocurrency was designed to be a non-divisible token that can pay for fees imposed by the network’s applications. What makes NEO so unique is that it can support many programming languages like:
How this works is that it uses NeoVM where the code is compiled to be used in an environment which is secure for execution.
How NEO came about?
It all started with AntShares that came with resources for development by the founders. These visionaries would later establish Onchain that offers consultation on blockchains. In 2017, it as rebranded as NEO and a year later, the first ONT was distributed. Among the features of NEW are:
- The Genesis Block created 100 million NEO half of which were sold and 50 million kept safely
- NEO can support 10,000 transactions every second as it uses a delegate BFT or Byzantine Fault Tolerance consensus mechanism
- Its core is formed through its NEP5 Communications Standard which is part of the philosophy behind NEO that allows developers to scale and grow the network