What is Neo Coin?
It’s a blockchain project launched in China in 2014 under the name Antshares. Following a revamp, the cryptocurrency took the name Neo Coin, precisely to mark the element of novelty inherent in the rebranding. Since 2017, it has been possible to perform transactions, create tokens and develop Dapps or smart contracts on its network. In terms of features and functionality, the Neo system is directly inspired by Ethereum and has – just like Vitalik Buterin‘s network – a Virtual Machine, called NeoVM. Today, Neo also offers native oracles, storage, domains and decentralised identities. The reference standard is NEP, and it is nowadays exploited by numerous tokens and gaming applications, exchanges and DeFi projects.
Why follow Neo Coin?
If Neo’s price follows crypto market trends, its technical developments are constant and incremental. The roadmap on the official website clearly shows the planned evolution of its blockchain system. The latest version of the protocol, for example, was launched in September 2021 (N3) and involves a migration of the native NEO crypto to the new standard. Why follow the Neo Coin project? First of all, there are two native tokens: NEO and GAS. The first one is the project’s coin, needed to participate in governance by electing members of the Neo Council. The second one is used to pay network fees and can only be redeemed by those who own NEO.
How was it created?
The founders of the Neo blockchain are the software developer Erik Zhang and the entrepreneur Da Hongfei. Both are at the helm of the Neo Foundation, which looks after the project together with Neo Global Development, a team of developers and the project-funded community. The operational headquarters are in Shanghai, but people from all over the world now work there, including former employees of Microsoft, Facebook, Amazon, Samsung, Dell and others.
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