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Cryptocurrency NEO review

What is NEO

NEO, formerly Antshares, is a cryptocurrency of the same blockchain platform. The source code for NEO is open and viewable. This platform is designed to combine digital assets, digital identification and smart contracts.
Short story

The date of origin of the project can be considered 2014. The creator of NEO, Da Hongfei, is the director of Shanghai-based OnChain. In 2014, OnChain, on the idea of Da Hongfei, launches the AntShares blockchain project. The cryptocurrency of the same name was also created on the basis of this platform.

Hongfei set the company a simple but global task. His goal was to build a fundamentally new system of financial interaction. This system should combine the sectors of the real and virtual economy into a single whole with the help of high-tech contracts. And cryptocurrency from OnChain should become the unit of payment for these contracts.

Soon, OnChain enters into a contract for cooperation with the Wings blockchain project, as well as contracts with economic giants Microsoft and Alibaba.

In August 2017, the history of NEO begins in its current form with the current name. Da Hongfei conducted a complete rebranding and technical modernization of the project. Rebranding was a huge success, and the price of cryptocurrency from OnChain soared 40 times.

But it was not without problems. In September, Chinese authorities adopt a package of sanctions laws against cryptocurrencies and ICOs. It was a heavy blow, which at the time almost 2 times brought down the course of the creature of Hongfei. However, soon the NEO cryptocurrency moved away from the blow and began to confidently regain the lost positions. At the moment, OnChain is actively modernizing the product and at the same time trying to find a compromise with the Chinese authorities for the legalization and quiet work of their offspring.

Mining

Mining NEO is not possible. There is a final value of coins equal to 100 million. 50 million are thrown to the market during the ICO. The developers keep the second half. However, GAZ mining is possible. However, it happens while holding coins in a wallet. That is, the more tokens you have, the more you can get GAZ coins to pay commissions. Today, 2,000 coins in the wallet accumulate 1 GAZ coin every twenty-four hours. Such mining is associated with the operation of the network on the Proof-Of-Stake algorithm. Coins generate themselves. Without the use of trusses from video cards and megawatts of electricity.
Where to store

You can find links to the following wallets on the official NEO website.

1. NEON-Wallet wallet from a group of independent developers “City of Zion”. Pretty good, but the third-party development factor and the presence of bugs impose their own risks.

2.NEO-CLI. This wallet is recommended only to programmers and people who know the command line well.

3.NEO-GUI. The best option for the average user. To use it, you need to download the application, synchronize blockchains and make a backup of your wallet. All. Now you can safely conduct financial transactions using Chinese crypto coins.

You can buy-sell NEO on exchanges or exchange in multi-currency wallets. The most famous exchanges: Bittrex; Binance; CoinSpot; Huobi and many others.

 
Right now you can make an exchange on our Baksman.org website. The service works around the clock and seven days a week. Exchange takes an average of 5-10 minutes. For any questions, you can contact the round-the-clock online support on our website.