NEO Coin Review
NEO Coin Review was quick to spot the opportunity for a passive income with NEO. Cryptocurrencies often provide capital growth and sometimes unprecedented growth, but very few provide a passive income for the investor. NEO is one that does. First, What is NEO?
NEO - An Open Network For Smart Economy
NEO is a community-based project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a "smart economy" with a distributed network.
Digital Assets
Digital Assets are programmable assets that exist in the form of electronic data. With blockchain technology, the digitization of assets can be decentralized, trustful, traceable, highly transparent, and free of intermediaries. On the NEO blockchain, users are able to register, trade, and circulate multiple types of assets. Proving the connection between digital and physical assets is possible through digital identity. Assets registered through a validated digital identity are protected by law.
Digital Identity
Digital identity refers to the identity information of individuals, organizations, and other entities that exist in electronic form. The more mature digital identity system is based on the PKI (Public Key Infrastructure) X.509 standard. NEO will implement a set of X.509 compatible digital identity standards. This set of digital identity standards, in addition to a compatible X.509 level certificate issuance model, will also support the Web Of Trust point-to-point certificate issuance model.
Smart Contract
The Neo smart contract system is the biggest feature of the seamless integration of the existing developer ecosystem. The Neo smart contract system will allow millions of developers around the world to quickly carry out the development of smart contracts. With multiple-language support, more than 90% of developers can directly participate in the development of an NEO smart contract without the need to learn a new language. Existing business system code might even be directly ported to the blockchain. We envision that this will greatly increase the overall popularity of the future blockchain.
A smart contract is a set of commitments that are defined in digital form, including the agreement on how contract participants shall fulfill these commitments. Blockchain technology gives us a decentralized, non-tampering, highly reliable system in which smart contracts are extremely useful. Smart contracts is one of the most important characteristics of blockchain technologies and the reason why blockchains can be called disruptive technology. It is increasing the efficiency of our social structure by each passing day.
Additionally, traditional smart contracts are difficult to debug and test given lack of tool supports and access to clear instructions. NEO, however, provides major support for debugging at the NEO virtual machine level, allowing you to develop NEO Smart Contract 2.0 both easier and faster. If you need TestNet GAS, feel free to ask openly and it will be provided for development purposes.
Proof of Stake and Getting Paid Gas
Gas is distributed among NEO holders according to their relative amount of shares they hold. If you own 1,000 NEO, you will receive close to .5 Gas per day. A helpful NEOTOGAS calculator has been created to show exactly how much GAS the amount of NEO you own will generate per day at https://neotogas.com/
You need to transfer your NEO over to one of the wallets in order to receive GAS.
The NEO team and community have created various wallets for different platforms. They recommend you download the wallet from their website neo.org (some other wallets may not be as safe). If you are on a MAC, they recommend using the Web wallet. This version will not show any accumulation of Gas, this is due to the lack of a feature to claim them. However, they are still being generated to your private key, and the ability to claim them will soon be added.
The China Factor
NEO Coin Review repeatedly read on a crucial element of NEO - China! NEO wants to be the next generation Ethereum of China and is essentially a blockchain-based smart contract platform. What's important about Neo is that, while most cryptocurrencies have been built to be completely decentralised to remove control from governments and banks, Neo has been built to fit exactly within Chinese regulations.
China's regulations on cryptocurrencies are extremely strict, and as recently as September ordered all Shanghai based exchanges to begin to shut down operations. The country has already banned ICOs completely and wants to try and eliminate digital currencies.
NEO Coin Review - Conclusion
The China factor is what gives Neo its biggest potential – it's possibly one of the only cryptocurrencies that could work in China with its almost 1.4 billion people. Forbes published a story that claimed that Neo was one of several altcoins that were likely to at least double their value throughout 2018.
Another article on Rados ranked Neo as one of the best investments of 2017, adding to its perceived credibility from trusted sources in the industry.
Another important factor is that NEO does not have a complex staking process. They make it easy to hold money in your wallet and according to all investors we have been able to contact, GAS is received regularly in a timely manner. This sort of security is increasingly valued in the volatile altcoin market.
In light of everything mentioned, this NEO Coin Review finds NEO is likely to remain a star performer in the months and years to come.
- This is my opinion based on my research. I am not a financial adviser and always encourage people to do their own independent research before investing.
Thanks for the info hoping it turns around soon
I agree @robpyne. Neo is a sleeping giant.
Yea i totally belive your idea great work @robpyne
Just like BTC, ETH, LTC, and Dash, Neo is a long term play.
Want me to resteem and upvote you post? If you do then send me 0.01 steem and it will be done. Thank you.
I love this post right now... Neo is such a sleeper, and at this price.... BUY THIS PUPPY!!!
You sumed it up great with gas, the reason I love gas is that it is a consumable... many of the whitepapers I have been reading lately point to switching to neo off ether for number of reasons. Well when large projects make the move, the consumable gets used and thus more demand.
Another thing i love about neo is look this past month or so when everything got smoked at first... neo shot from 120 to 170ish.... only just now is it so low.
I have always thought neo is one of my favorite and i love seeing people share this...
Excellent write up @robpyne!
Couldn't be farther from the truth the all eyes are on what China does, and for the future of crypto in SEA.
Followed here and on twitter 😁 hope for the same.
Look forward to your continued contributions.
@captboatface
So informative, I just bookmarked this for my collection of research sources. Thanks Rob!
https://steemit.com/@keivincabreros
A negative point of the NEO would be its divisibility?
The cryptographic native of the NEO block chain is not divisible. It only exists in whole numbers (1, 10 ,50,1000 etc.).
NEO is awesome Rob, what other coins pay Gas like NEO?