NEO: Success and Future Strategies. A Talk With Creator of “Chinese Ethereum”
We had the joy of sitting with Da Hongfei, creator of NEO, and Zhao Chen (Johnson), head of Biz Dev for OnChain in the Shanghai Blockchain Summit for a conversation.
Da Hongfei was giving a talk to a crowded house of blockchain and crypto fans at the Shanghai International Convention Center. Bitshares, a fellow Chinese crypto was also in attendance.
NEO, which many call the “Chinese Ethereum”, on account of the simple fact that it hosts smart contracts has since been around at ear recently.
The cryptocurrency is an astonishing 3,053 percent since the start of the year and people have begun to catch on to China’s hottest cryptocurrency.
Da Hongfei talked about several facets of NEO which were of particular attention.
The Smart Economy
NEO brands itself as the Blockchain for its “Smart Economy”. This is something which actually came across from the conversation. They do not wish to only be regarded as a cryptocurrency for speculators. They think they have authentic real world use cases which may create value from the new “Smart Economy”.
Thus, what contains the smart market?
NEO would like to incorporate digital resources, digital identity, and smart contracts to its platform. After the company rebranded from Antshares and updated to neo generating gas it introduced new features, like cross-chain protocol, quantum-resistant cryptography, a distributed storage protocol and a secure communication protocol.
“We expect the platform may be used for distinct front end situations, like the Digital strength wallet, Forum, Voting, Profile management and Mobile applications. The platform also offers an open API which may be used for integration with other programs.”
The consortium edition of NEO, namely DNA (dispersed networks structure), shares the exact same architect and smart arrangement system like NEO, and can be outfitted with more tools for institutional functions. Onchain is a legal entity that supplies Blockchain services and services according to DNA.