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LATOKEN Review: NEO Token

LATOKEN team regularly reviews tokens in order to keep aspiring crypto traders up to date with current and upcoming trends in blockchain technology. This time, we are going to review NEO (NEO).

Currently, NEO token is #33 on CoinGecko based on its market capitalization of $3,581,390,746. The circulating supply is 70,530,000, out of 100M available. NEO is also known as “Ethereum of China” because it was China’s first open source blockchain. But some experts think that it is even better than Ethereum because of how easy and safe it is to make smart contracts on NEO, plus how it is a greener option in comparison.

NEO token is part of the bigger namesake project NEO, and according to their website, its mission is to “To make any asset, digital or physical, accessible by human beings and programs with minimized trust and permission.” In order to bring this vision to life, NEO aims to create a “smart economy.” This means the right combination of digital assets, digital identity, and smart contracts. On the NEO platform, any real-world asset such as shares, real estate, or even fiat money can be digitized and traded. This creates an entirely new economy. 

NEO platform includes a multi-layered authentication process that consists of facial and voice recognition as well as fingerprints. There are digital certificates on NEO public blockchain, and it enables all digital assets on the platform to have legal protection. 

In addition, NEO was the first public blockchain platform to adopt a dual token mechanism. This allows NEO to separate the rights of governance from the rights of using the network. NEO holders have two main rights, to vote to determine the NEO Council and to claim GAS tokens that are used for charges associated with operation and storage of tokens and smart contracts, preventing the abuse of node resources on the platform. Also, NEO rewards holders with GAS when they play an active role in token’s governance. 

Overall, NEO is a blockchains system with features that encourage mass adoption of decentralized finance. While we can’t make clear cut predictions, NEO is most likely to remain in top positions in crypto based on the NEO platform’s position in the blockchain ecosystem. As of today, what is sure is that NEO tokens are among the leading tokens. Interested individuals can trade NEO tokens on the LATOKEN platform.

LATOKEN does not provide investment advice; this article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.