What is Neo cryptocurrency: More information about Neo, a staking coin and a coin for creating other assets on its blockchain

What is Neo cryptocurrency: More information about Neo, a staking coin and a coin for creating other assets on its blockchain

By quintomudigo | cryptoforex street | 22 Jul 2019


        Neo.png  

 Neo is a   cryptocurrency created on Neo blockchain whose transaction takes place from one peer to another without involvement by the government thus is being considered to be decentralized. Neo was created to enable other assets to be created on top of its blockchain using the smart contract address as well as to enable Neo holders to get rewarded with Neo gas for holding Neo coin.

Neo transaction  

Neo transaction takes place on the Neo blockchain Explorer based on  blocks height and timestamp. To view how Neo transaction takes place on the Neo blockchain explorer, simply follow the link below;

  https://neoscan-testnet.io/blocks/1 

  Date Launched  

Neo was created in 2014 under the name Antshares with the main aim of enabling holders to stake in order to earn Neo gas as well as to enable other assets to be created on its blockchain using the smart contract address. In 2017 it fully changed its name from Antshares to Neo  

Founder Of Neo  

Neo was created by Da Hongfei who is a serial entrepreneur in blockchain technology as well as founder of onchain and Erik Zhang who is a developer with the main objective of rewarding Neo holders with Neo gas.

  Process of creating Neo

  Unlike other cryptocurrencies such as bitcoin and ethereum which are created as a proof-of-work through the mining process in the presence of electricity , for Neo , that is not the case. All Neo coins were created during the initial launched. Later on, another neo coin called gas is being created when Neo coin is being staked .Part of the gas is being used to pay for transaction coin and maintain the Neo blockchain while part of it is being used to reward Neo stakers .To know how much gas you will be rewarded when you stake Neo coin simply follow the link below;

https://neotogas.com/  

  Maximum circulation of Neo  

Unlike cryptocurrencies like bitcoin and ethereum where their reward keep on halving every year, for Neo cryptocurrency, that is not the case. Instead, Since 100,000,000 Neo coin were created during its launching, it therefore follows that this is the maximum supply that is expected to be circulating in the Neo blockchain. With 100,000,000 Neo in the Neo ecosystem, the Neo holders will be rewarded with Neo gas for holding Neo coin.

  Neo Price  

Currently, 1 Neo  is worth more than $12.74 and its price is expected to increase over the next period of time. Neo coin is being abbreviated as Neo.  

Converting my Neo to other cryptocurrencies  

To convert your Neo to other cryptocurrencies such as bitcoin , you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Neo to bitcoin  

https://www.binance.com/?ref=10776203  

Storing my Neo  

To store your Neo, you need a Neo wallet or other supported cryptocurrency wallets. You can use , coinpayment or other supported Neo wallets. For the safety of your Neo, you can use offline Neo wallet like Ledger hardware  wallet  or you can download Neo core wallet.To know which is the best Neo wallet to use, simply follow the link below;

  https://neo.org/client    

Transferring my Neo to other Users

  If you want to transfer your Neo to another user, the two of you must have trust in each other. The trust should be the Neo address provided for the receiver while the sender must have the Neo balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;

neo sender.png

  Neo Receiver.png  

Knowing more About Neo

If you feel that you need to learn more about Neo cryptocurrency, then you can follow them on their site. Here is the link redirecting you to Neo site

  https://neo.org/    

  Now that you know, i think that it is time for you to start staking some Neo in order to start earning some Neo gas based on your staking amount . If you feel that i should also own some for helping you to know more about this cryptocurrency, here is my Neo address ;  

AXLBR4ph1kmauAMcuCqdRL5G95wZRmTKwe


quintomudigo
quintomudigo

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Teacher Forex School.


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