09/10/18 09:01 UTC-4

NEO – the beginning of a modern era in the financial sector

NEO – a new era in the financial sector
NEO – a new era in the financial sector

In translation from the Greek language, NEO means young, new. The use of such a name can be associated with the beginning of the modern era in the financial sector. The primary goal of NEO project managers was to create a digital model in the economy, which was given an informal name "Chinese Ethereum".


Work principles

The smart economy is built on clever contracts, where it is quite common to use digital signatures as a reliable transaction confirmation mechanism. NEO smart-contracts are designed to regulate the business relationship between two or more parties. Thus, smart-contracts are a kind of legal protection in the digital economy, and a digital signature comes in the place of a ballpoint pen and a sheet of paper.

Interesting in the section: DragonChain: Features and Prospects

The NEO system includes such functions and services as NeoX, NeoContract, NeoFS, NeoQ. All these mechanisms create an original ecosystem that operates on the basis of Blochain. NEO positions itself as a cloud service with the architecture of distributed networks. Blockchain technology supports new applications and can be integrated with classic business projects.



The variety of codes and software algorithms is a distinctive feature of NEO, at the same time, the centralized management model leaves a mark on the highlighted limitations in working with this platform. In fact, the release and subsequent distribution of coins (crowdfunding) can lead to sharp fluctuations in the value of coins and instability of the system as a whole. To date, NEO includes OnChain, which cooperates with both the Chinese government and the Internet giant Alibaba.

Interesting in the section: Metaverse ETP cryptocurrency project: description and advantages

Whether NEO will become a future platform for the next generation economy, time will tell. NEO developers and investors are doing their best to develop Blockchain cryptographic methods in the usual life, maybe that's why the volume of investments in this cryptocurrency reached a mark of 8 billion dollars.


Further growth in the popularity of NEO is attributed to the expansion of the sphere of influence to the western part of the world, where the views on the economy remain more conservative.

Editor: Yuliya Soroka

#NEO #cryptocurrency #cloudservice #blockchain



04/04/19 03:30 UTC-4

What is USDC? Complete Starter Guide for USD Stablecoin

​Description and characteristics USD Coin (USDC) is a type of cryptocurrency that is called a stable coin. You can always buy back a coin of 1 US dollar for 1 US dollar, providing it with a stable price.

23/07/19 07:30 UTC-4

Cryptonator Wallet in 2019 disappoints its customers

​For any crypto user, the choice of a digital wallet is one of the most important moments. Today in the article we will talk about the Cryptonator wallet, which is one of the many options available. But what is a Cryptonator wallet and is it for you? Is it safe to use? In our overeview of the Cryptonator wallet, we consider its good and bad sides.

12/07/19 05:00 UTC-4

Financial geography: countries where cryptocurrency is banned

Although cryptocurrencies have become an innovative novelty of the modern financial sector, they are not accepted in all states. There is a list of countries where the possession of cryptocurrency assets is not only prohibited, but also criminally punishable.

25/06/19 10:16 UTC-4

With the CEX.IO app, Bitcoin is in your pocket

​In a very short period, many cryptocurrency applications have appeared, worth billions of dollars. Cryptocurrency trading is now entering the mainstream, and traders should check prices constantly and even on the go on their Android or iOS devices.

12/05/19 05:00 UTC-4

Buy Bitcoin in 2010: how much did those who invested in BTC earn a few years ago?

​Bitcoin is the first and most popular cryptocurrency in the world. The maximum price increase of digital gold was recorded in December 2017, when the cryptocurrency overcame a maximum of $ 20,000. However, many do not recall that at the beginning of their existence, BTC coins were worth less than one dollar.