What is NEO?
NEO is a blockchain platform and cryptocurrency designed to build and scalable network of decentralized applications. The base asset of the NEO blockchain is non-divisible NEO token which generates GAS tokens it can be used to pay for transaction fees generated by applications on the network.
NEO is often called Ethereum of China
The reason behind is NEO is positioned as a “public cloud” and it’s a part of a bigger strategy by the Chinese government in establishing of pre-eminence as a Blockchain platform industry leader. They want developers should use their tools and platform and develop the ecosystem.
Features of NEO
Delegated Byzantine Fault Tolerance (DBFT) algorithm
This is a consensus mechanism (instead of the traditional proof of work/stake) that allows the system to resist and maintains consensus even if some nodes bare malicious intentions.
This system is to create the ability and to execute and operate across various blockchain.
It is for creating the mechanism with smart contracts seamlessly in scalable, high-performance environments and that integrates pre-existing codebases.
This is a service which allows decentralized storage (like peer-to-peer Dropbox).
A matrix-based cryptographic mechanism, which create problems and that cannot be solved by quantum computers to ensuring being quantum proof.
Reasons why NEO has no future:
1. NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.
2. NEO distributed coins through a crowdfunding event which allowed people to invest but NEO still made money from the sale and this is not the right thing to do.
3. NEO is divided into two batches of 50-50 million and somewhere somehow it is going to affect its future in the crypto market.
4. NEOs fund releasing is in multiple forms and this cause market dumping with some of it affects price & morality.
5. It has seen NEO attract criticism from those who consider it not to be a true cryptocurrency as its lack of decentralization.
6. NEO was built on the very badly written code exposing the network to major vulnerabilities and that its consensus mechanism was not properly implemented.
7. There is a bug ‘deep in NEO’s peer-to-peer protocol.
8. Every blockchain has its technical problem to solve, and there is no reason why NEO can’t overcome its teething troubles and alleviate over-centralization concerns given time.
9. Communication is one of the strong points for any team, but in NEO, it muddles on silence, the dissenting voices are getting louder.
10. The other major issue affecting NEO is its main use, in present springboard for ICOs. These type of projects need to prove themselves by adding some real values and more usability for NEO ecosystem.
The article represents the opinion of the author and is not an investment advise. You are required to do your own research and analysis before taking any decision.