Review on Neo by Danh Huỳnh Ngọc Công
NEO for the smart economies
NEO is the tool for our modern world to build a smart economy. It attracts many technology advance and excellent developers to work on it. Although the NEO is a good coin, there are still some things to keep in mind. For example, it is not decentralized, mainly supported by the Chinese, and it has many competitors. Overall, NEO has the potential to develop as properly as Tencent, Alibaba or Baidu.
Updated 5 years ago
Rating has not been changed
UPDATE 2019: NEO has partnered with ONT to build a crosschain platform which is eco-friendly, more secure, and accessible than other existing solutions
Pros
- - NEO utilizes an consensus algorithm called Delegated Byzantine Fault Tolerance System or dBFT which is said to be better than Proof of Work and very environment-friendly (it consumes less energy)
- - It is easy for developers who want to develop on NEO as popular programming languages like C++, Java, Python, or Go are used to build most of the smart contracts on this platform
- - It can handle 1000 transactions per second which solves the problem of scalability
- - Transaction fee is low compared to the other blockchain like Bitcoin
- - Holders get paid with Devidends (GAS token) (Good engagement incentivization)
- - It survived the government ban on cryptocurrency in 2017. This fact shows that NEO won't be dead easily
- - The Chinese give so much support to their domestic product and NEO is not an exception. It is loved by the citizens of China.
- - It is listed on a lot of exchanges and the volume show that its liquidity is very healthy
- - They focus heavily on public interaction. Their Facebook, Twitter, Wechat or Telegram is very active, responding making post about the recent development of the project
- - NEO Foundation is a partner of many other famous foundation in China and other countries
Cons
- - It's hard for NEO to be competent in its sector. There are a lot of mighty competitors such as Ethereum, Cardano, EOS or Tronix
- - It is not decentralized as it is run by a company and partly by Chinese government
- - Investors and developers outside China don't really support NEO. They need to gain the support of the world community to get their projects go advance
