Review on Neo by Temitope Babatunde
Neo, A Regulatory Compliance Platform
You may want to know the following facts about NEO:
1. Neo is a blockchain platform based in China
2. Neo coin is a native coin of NEO platform
3. Neo platform was launched by its founders Da Hongfei and Erik Zhan in 2014
4. Neo coin was formally known as Antshares
5. The maximum number of NEO coin that will ever exist is 100 million
6. Neo coin is among the first 20 coins in terms of market capitalization
7. Neo coin can be found on so many cryptocurrencies exchange
8. Neo coin is not anonymous, that is the user is traceable.
9. NEO is regulatory compliance.
10. Neo partnered with Onchain which focuses on private consortium blockchain to meet the specific needs of the industry.
11. Neo is indivisible.
NEO is technologically designed to be regulated friendly with a centralized approach, and this set it apart from majority of cryptocurrencies we have today.
NEO platform supports the development of digital assets and smart contract that is why some named it China ethereum since applications can be write on it like ethereum. It aimed at building a distributed network based smart economy.
Physical assets can be digitalized on the NEO blockchain in an open, decentralized, trustworthy, transparent but traceable way that is free of any third partie and at no cost.
You can use neo platform in as much as you have digital avatar which will serve as your means of identification. All execution of contracts on the platform is based on programming code of the network and the coding allows for traceability, transparency and irreversible of transaction.
It supports all major keys and languages in programming like Java, go, c#, python etc, this bring about many developers joining its community.
The platform supports 2 coins which are NEO and Gas.
It supports all major keys and languages in programming like Java, go, c#, python etc, this bring about many developers joining its community.
The platform supports 2 coins which are NEO and Gas.
Pros
- When transferring it to another person it is faster than bitcoin
- When transferring it out of some major exchanges like Binance ans Kucoin it is absolutely free.
- Holding it on some exchanges like Binance will entitled the hider to Gas
Cons
- Unlike some cryptos that are not traceable, neo is traceable
- It is so open that any law from governmental authority in China against cryptocurrencies will have serious adverse effects on it.
