“…blockchain technology and digital identity to digitize assets, to automate the management of digital assets by using smart contracts, and to realize a “smart economy” with a distributed network.”
Digital Assets + Digital Identity + Smart Contract = Smart Economy.
That is the NEO way.
NEO, formerly known as Antshares, is frequently called the ‘Chinese Ethereum’.
While being similar, the NEO blockchain supports many additional code bases like C#, F# and Java, unlike Ethereum, that solely uses a proprietary coding language called Solidity. The idea behind is offering lower barriers of entry and making it accessible to more emerging crypto companies.
Just like Ethereum, NEO needs ‘fuel’ to operate its ecosystem, that is where GAS comes into play. The distinction here is that GAS was given its own special status as a token, similar to Steemit tokens, but more effective. The token is traded at $63, after being issued at less than two dollars just six months ago. This is a good indication of a healthy NEO based ecosystem.
For the time being, the total market cap of NEO has crossed the $10B mark, placing it amongst the top ten most significant crypto projects, but the company comes from relatively humble beginnings. The project was funded by two ICOs. The first, on October 2015 lasting for 10 days during which 17.5 million NEO tokens were sold for $550,000. During the second round, the remaining 22.5 million NEO tokens were sold for $4.5 million. Considering the amount of ICOs and use cases that NEO brings to the table, its relatively modest amount in an industry where Bancor and Tezor raise hundreds of millions of dollars, without having too much to show for.
All signs point to a solid company, with good prospects, a healthy economy and vast reach in the Asian markets, so why shouldn’t NEO follow Ethereum? Is there room in the industry for the both of them?
who knows, only time will give us the answer. In the meanwhile, keep an eye on NEO, as it slowly spreads its reach across the globe.