NEO Cryptocurrency Review – NEO’s future seems bright

NEO Cryptocurrency Review – NEO’s future seems bright! Having established itself as China’s major smart contracts platform, NEO’s future seems bright. The market has already seen massive growth over the last year, but with fewer circulating coins compared to Ethereum and a far reduced market price, the sky’s the limit for NEO if it actually demonstrates to be the “Ethereum killer” it’s occasionally billed as, or even just manages to stake out a claim to a significant share of the world’s smart contracts market.

NEO is a blockchain platform that allows for the execution of trustless smart contracts. That means that, such as Ethereum, it may be used for financial transactions, but it also can serve as a platform for much more intricate interactions along with fully-featured distributed apps (dApps).

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Though it shares the exact same basic performance as Ethereum, there are a few key differences between both projects.

First, while Ethereum needs developers to code at its Programming language (Solidity), developers who’d like to compose a dApp to NEO’s network may do so in various languages they might already know, such as C#, VB.Net, F#, Java, Python, Ruby, along with Kotlin. This makes getting started with a NEO project a lot simpler for first-time blockchain programmers coming from different platforms. NEO Cryptocurrency Review – NEO’s future seems bright

Secondly, rather than utilizing a power-hungry proof-of-work consensus algorithm like Bitcoin or Ethereum, NEO employs a proof-of-stake system using assigned Byzantine Fault Tolerance (dBFT). That means — to vastly oversimplify — would be that consensus is attained when 66% or more of these nodes around the NEO community confirm a transaction.

NEO is a China-based job that is being developed by a company called OnChain. The project is directed by Da Hongfei, and the OnChain team has worked with a number of high-profile tech firms such as Alibaba and Microsoft. The NEO project specifically has also worked with Microsoft China on some joint events.

NEO Cryptocurrency Review – NEO’s future seems bright