Cryptocurrencies are the talk of the town these days, and investors and programmers around the world are searching for systems that will provide the greatest level of support and return. One such currency, NEO, has the makings of the largest and most important cryptocurrency in the world.
Bitcoin and Ethereum
The cryptocurrencies that most people are familiar with are Bitcoin and Ethereum. Bitcoin has been in the news because of the recent ‘fork’ in the currency, resulting in Bitcoin Cash. However, the blockchain that Bitcoin is supported by is limited in its effectiveness for creating and running programs. In fact, only currencies and not programs are not possible on the Bitcoin blockchain.
Ethereum was invented four years ago as a way to both monetize the blockchain and allow for programmers to build apps and programs on the chain itself. Ethereum is both a cryptocurrency (ETH) and a blockchain that allows for smart contracts and some programming languages. Built by Vitalik Buterin, Ethereum still retains the anti-establishmentarianism of Bitcoin, while allowing for more programming and transaction applications.
NEO is the new name for the upgraded version of Antshares, a digital platform developed in China. NEO is a radically different and more powerful version of Antshares and presents massive opportunity for investors and programmers alike.
To begin with, NEO creates a unique digital economy around it’s token. NEO is a full integration of digital assets, digital identity, and smart contracts, creating a fully digitized economy that will be transparent and safe, and make money laundering and underground dealings difficult or impossible. Because of the ability of the new NEO blockchain system, companies and developers will be seeking to use NEO for various applications. The proliferation of smart contracts will make investment on the NEO platform simple and safe.
Second, NEO is unique among blockchain cryptocurrencies because of the versatility of the blockchain it is based on. Unlike Bitcoin, which only allows for the cryptocurrencies and no programming, NEO is very simple to learn and understand (unlike Ethereum), and has the ability to work with nearly every (90%) programming language available. NEO uses compilers compatible with Java, C#, and .NET, and will support Python, Go, and others in the near future. Unlike Ethereum, this diversity allows for a far more complex array of programs and apps that can be run on the NEO blockchain, and opens doors for extensive partnerships. With ease of learning and robust compatibility, NEO is poised to overtake Ethereum and others as the blockchain of choice.
Third, NEO is different philosophically. Rather than seeking simple rejection of the overall control of governments, NEO is designed to work within the framework of existing government control, while still providing freedom and autonomy to its users. This is a far more realistic perspective than the anti-government rhetoric of other blockchains, and will result in far greater investment and acceptance.
Fourth, NEO is not based on a proof-of-work mechanism, and so there is no mining necessary. This has been a huge detriment to both Bitcoin and ETH, as mining is so energy intensive and public opinion is turning against miners and the blockchain systems they support. NEO utilizes an ether-gas system for production and continuation, but protects the environment against over consumption of energy.
NEO, though relatively new, has already entered the top ten list of cryptocurrencies based on overall market cap. While this may seem like a small feat, a newer coin that has been recently released never enters the top ten in this way. NEO has had an explosive beginning as a cryptocurrency.
The future for NEO is bright, as the world begins to understand the complexity and simple elegance that is built into the NEO blockchain system. NEO will continue to gain market share (as already evidenced), and may surpass even Bitcoin in terms of its market share. As companies, investment firms, programmers and others realize the power and versatility of NEO, it may well grow to be the largest cryptocurrency in the world. It’s design and features have positioned NEO to be massively successful in the coming years.