Neo is the first ever Chinese open source cryptocurrency that was released in 2014 to re-invent how commerce is done in the commercial capital of the world, China. It was created to shift our traditional economy into the new era of Smart Economy. It is a blockchain based cryptocurrency designed to create a new ecosystem for smart contracts.
NEO rocketed into the top five cryptocurrencies based on coin market capitalization, charging past other cryptocurrencies it met in the market. Formerly known as Antshares, it was designed as a close copy of Ethereum blockchain although uses a unique blockchain algorithm that improves on the Ethereum’s model. Ethereum, however, still remains the foundation on which NEO is built. NEO supports decentralized commerce, identification and digitization of different assets. NEO has strengthened and secured the blockchain from loopholes that left some of Ethereum’s contracts vulnerable to hackers.
NEO boasts an expert team of programmers While many new ICOs (initial coin offerings) have teams that advance on the pre-sale of its coin and its potential value, NEO takes another stance, that its team is accessible to the public, to discuss and develop the real-world applications of the cryptocurrency.