Review on Neo by francis fernandez
NEO AND ITS PURPOSE OF CONSENSUS
Neo is a cryptocurrency, which, like those existing in the market, seeks to innovate in the world of block chain networks. Its objective is to generate consolidation protocols for existing blockchains in order to carry out interactions between Neo and the rest of the public or private digital services, through its distributed network architecture, better known as DNA. This NEO strategy is oriented so that each digital platform, regardless of its profile, can make use of the potential of its network, and at the same time provide security and transparency in its transactions to users. All this under the premise that NEO manages to become the fundamental pillar in the construction of these services.
NEO's advancements in blockchain consensus protocols also include the design of the DBFT (Denied Byzantine Fault Tolerance) algorithm, which acts as a voting system where you must select the block that will validate the transactions and then generate the blocks. , repeatedly following this process during each cycle. In this way, we can conclude that Neo is a cryptocurrency impossible to be mined.
The success of this ecosystem lies in the fact that it can produce blocks faster and at a low prior, reaching a production cap of 2400 transactions per second.
Pros
- Its premise of consensus of protocols of digital services orients towards the globalization of the same, avoiding losses of time between the validation of the transactions between the platforms of the different cryptocurrencies.
- It is known as the platform with the fastest transactions.
- It offers transparency and reliability in its operations, by sending encrypted and signed mail to its users. Represents an innovation technology within the design of blockchain algorithms.
- Its cryptographic system offers a high level of security that is proof of quantum computing.
Cons
- Confirmation of its premises is still under development.
