NEO was called Antshares before. It has been treated as the Chinese version of "Ethereum", and is also an early public chain project in China. NEO is a distributed network whose value lies in the use of blockchain technology and digital identity to digitize assets and automate the management of digital assets through smart contracts, thereby achieving a "smart economy".
Generally speaking, it can be understood that NEO aims to transfer the digitization of real-world assets to the blockchain. The main purposes include the registration management and transfer transactions of company equity. In addition, it can also be used for equity registration and equity incentives, equity crowdfunding, debt transfer, and securities trading. It is an equity transfer and trading system based on blockchain technology.
The bottom layer of Antshares is based on blockchain technology. Its equity database is not controlled and maintained by a centralized company. On the contrary, it is managed by all the corresponding users. The behaviours of equity issuance and trading in Antshares directly happen between households and users without going through a third party.
How NEO works
The consensus mechanism adopted by NEO is DBFT, which is a consensus mechanism similar to DPOS. The bookkeeper is selected by the rights and interests, and then the bookkeeper reaches a consensus through the Byzantine fault-tolerant algorithm.
As for the DBFT consensus mechanism, let’s see an example to better understand it: if any citizen in China (about 1.4 billion) has the right to directly participate in government decision-making, it is conceivable that the whole process will be very chaotic, and because everyone has different levels of ability, it may end up being counterproductive; however, people can actually elect people who can represent their interests, speak on their behalf, and make decisions later.
NEO adopts such a governance method. The consensus nodes voted under the DBFT consensus mechanism can range from 7-1024. With the gradual stabilization of the NEO core protocol, the number of consensus nodes will gradually increase in the later stage
Compared with Ethereum, NEO is more friendly to smart contract developers. Its users don’t have to learn new programming languages which are highly operable. At the same time, NEO smart contracts have stronger scalability.
What is NEO?
NEO's 100 million management tokens are divided into two parts. The first part, 50 million NEO, is used to distribute to supporters of NEO development funding crowdfunding in rounds and proportions. This part has been distributed. The second part, 50 million copies, is managed by the NEO Council to support the long-term development, operation and maintenance and ecological development of the NEO network. This part of NEO is in the lock-up period and can be unlocked and used only when the NEO network has been running for one year on October 16, 2017. This part of NEO will not be traded on the exchange and is only used to support the NEO project for a long time. It is planned to be allocated and used in the following proportions:
※10 million copies (10% of the total) are used to motivate NEO developers and NEO council members
※10 million copies (10% of the total) will be used to motivate ecological developers around NEO
※15 million copies (15% of the total) are used for cross-investment in other blockchain projects, and the obtained tokens belong to the NEO Council and are only used for NEO projects
※15 million copies (15% of the total) for backup
In principle, no more than 15 million copies of NEO will be used each year.
NEO Crypto Wallet
In addition to placing NEO in the Gate.io exchange for easy trading, users can also save NEO in a crypto wallet.
The development team of the Neo community has developed a variety of wallets for different users and applications to choose from, including Neo-GUI, Neo-CLI, OneGate, NeoLine, O3 Wallet, ONTO Wallet, and Neon Wallet.
Taking Neon Wallet as an example, it is an easy-to-use multi-chain digital wallet app. It belongs to light wallets in terms of functional attributes. It helps users manage virtual assets offline. Security encryption mechanisms such as private keys and mnemonics can be used free of charge to ensure that Users can independently control assets.
NeoLine is the NeoLine plug-in wallet developed by the NeoNEXT community! This integration will further lower the threshold for users’ access to Switcheo, and users can trade on Switcheo by connecting to NeoLine's Chrome plug-in wallet.
In the actual scenarios, users can choose wallet products that are more suitable for them according to their own needs.
There are two schools of thought in determining the price of Fantom.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Fantom, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Fantom from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Fantom on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Fantom as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Fantom and the cryptocurrency market as a whole.
2. What is the highest price of Fantom in history?
Fantom achieved the all-time high of $3.46 in 2021-10-28, and is currently trading at $0.24.
3. What is the lowest price of Fantom in history?
In 2020-03-13, Fantom reached the all-time low of $0.0019.
4. Should I buy Fantom now?
It is important to remember that Fantom, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.