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Initially called Antshares, a re-brand premiered in July / August 2017 and it became NEO — name selected because of the high terms of being “the chosen one” ( not), or even more probable, which it means “childhood” or even “new” from Greek.
ANS became neo paper wallet , and the rebranding must be followed by improved UI and normally a much better experience for everybody involved. These things take some time though so it is curious to see where it is going.
In the rebrand announcement they covered a few fairly major news:
NEO would be to partner with China certificate police
While largely focused on the Chinese market, some Western companies like Microsoft have vocalised service for your undertaking.
NEO (Antshares) Vs Ethereum
They share the exact same job of needing to enable the construction of decentralised applications (Dapps) on blockchain technology. Decentralised applications utilize smart contracts to automate tasks like sending money. The distinction and benefit NEO has, is that it enables languages like C#, Java and Python — well recognized existing programming languages. By comparison, Ethereum utilizes Solidity that’s it’s own terminology.
Another huge difference is the mechanism used to make consensus with at the system (i.e. validate what’s going on is actual, or retains it stable).
If you are considering this in more detail, then there is an excellent write up here.
But, NEO utilizes something called “Delegated Byzantine Fault Tolerance alternative” or even handilydBFT for short.
There is a more detailed draft of upward of what that is here, however, the sensible answer is that it uses less electricity so there is less wasted computational and electrical power demanded with the system.
There’s important evidence that China is implementing a change from FIAT to a digital Cryptocurrency with the Support of gas coin neo.
NEO creator Da Hongfei was recently invited to a seminar held by the Chinese Government in regard to Blockchain technology.
The event was titled the “2017 Trustworthy Blockchain convention” The conference itself promoted the Trustworthy Blockchain Alliance which intends promote real life application of their blockchain in China.
China is ahead of the rest of the countries regarding both technologies and standardizing the blockchain. They intend to use the blockchain to its whole capacity by implementing it in their own market.
News had already surfaced that China is now developing its own digital cryptocurrency and that China’s central bank is moving to become entirely digital. A research team was assembled in 2014, where the People’s Bank of China (PBOC) finished trial runs of a prototype cryptocurrency to utilize within their market.
It’s theorized that this cryptocurrency is going to be published shortly in China and also the current events concerning the banning of ICO’s and trades in China make me think this speculation.
China has fully embraced online and digital payments for all so that it is logical for the Bank of China to possess the urge to change to a more developed transparent digital money. In China taxpayers scan codes in their phones to buy soft drink drinks from vending machines instead of utilizing FIAT coins. This is simply 1 example of just how far ahead China is about possibly implementing a cryptocurrency in their economy.
China is moving exceptionally fast in standardizing, regulating and implementing a digital money entirely to its market. This digital money is going to wind up using blockchain technology. Does this mean NEO has a part to play in this change happening in China? I think so!
Remember NEO is PRO Government and has constantly said they’re pro-government. Many consider regulations will harm the crypto marketplace nonetheless, the neo wallet web staff considers that regulations are essential in order for cryptocurrencies to flourish and evolve.
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