NEO Review

NEO is a cryptocurrency and blockchain project that began in 2014. The project shares similarities with Ethereum, such as being a smart contract platform and ecosystem capable of hosting many cryptocurrencies. The blockchain itself is highly proficient, and scalable. The infrastructure allows for several thousand transactions per second, which make it an ideal platform for high volume use cases. That being said, its infrastructure is fundamentally different than Bitcoin or Ethereum creating room for critique from a security standpoint. NEO Is focusing on a number of areas, one of which is creating a simple development experience for developers.

According to the NEO ecosystem page, the developer community is spread across 20 cities in 7 countries. Sending transactions with NEO  is similar to sending transactions with Ethereum. Both networks make use of the concept of gas. Gas is the transaction fee that needs to be paid to the miners in order for the network to include your transaction in a block. With Ethereum, gas is paid in ETH. With NEO, GAS is a totally separate asset. Fortunately, simply by holding onto NEO, you receive GAS as a reward from the network.

Neo Pros & Cons

The Benefits PRO's
  • Highly scalable
  • Easy to build on
  • Strong academic backing
The Downside CON's
  • Two token system is complicated for newcomers

Our Favorite Cryptocurrency Exchange for Buying NEO

Coinbase Logo

Coinbase

  • User-friendly
  • Great customer service
  • Low services fees
  • Diverse and consistently updated choice of coins

Price:

All Time Low : 0.072287

All Time High : 196.85

Market Capitalization:

All Time High : 7.480 Billion

Current : 841~ Million

Supply:

Current : 70,538,831

Max : 100,000,000

Network Speed:

High: (3000 tx/s)

Disbursement:

Rating: Low

Reason: NEO is in its early stages. The project administrators have allocated half (50 million) of all NEO to funding development efforts. The remaining half is yet to be completely released into circulation. The top 10 addresses on NEO have more than 50% of the NEO in existence.

Developer Engagement:

Rating: High

Reason: NEO has one of the best development communities in the world. This is reasonable, as they also have a massive budget for furthering the development of the ecosystem. NEO is able to be built upon using the majority of the most popular programming languages. This is an ideal setup for the growth of NEO.

Liquidity:

Rating: High

Reason: NEO is a top 25 coin that has been on the markets for long enough to reach a degree of maturity in terms of liquidity. NEO consistently has hundreds of millions of dollars worth of liquidity on its markets, making it a highly liquid asset.

History of NEO

NEO was first conceptualized in 2014 as Antshares. Antshares garnered the support of major funders in the Eastern Asian region in the early days, which enabled it to build strong fundamentals into the technology. The Antshares testnet launched in 2015, significant testing was completed in order to make the entire infrastructure more robust. The mainnet was formally launched in October of 2016. It was in 2017 that Antshare rebranded to what the project is known to be today, NEO.

NEO then followed Ethereum in establishing a standard for creating tokens on the network. That standard is known as NEP-5. NEP-5 is the ERC20 of NEO. At the peak of the cryptocurrency bubble in 2017, NEO rose to a value of $196. It was around this time that NEO became a top 10 cryptocurrency in terms of market capitalization. During crypto winter, the NEO community used the time to work on improving the technology, and growing the community. Development and business conferences were held in 2018 and 2019 to invigorate the NEO community at large. The third version of the NEO blockchain is set to be previewed in September of 2020, and launched in October of the same year.

NEO Frequently Asked Questions

About the Author

Mrugakshee Palwe, CryptoVantage

Mrugakshee Palwe

Mrugakshee Palwe is a cryptocurrency investor and consultant. Her experience in knowledge delivery allows her to curate information in the most comprehensible way. Her passion for education led her to start the Atlantic Blockchain Company which consults on blockchain technology and cryptocurrency know-how.