4 facts you should know about the NEO network
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Answer 4 facts you should know about the NEO network
NEO, formerly known as Antshares, was created by Onchain founders Da Hongfei and Eric Zhang in 2016.
The coin has been able to offer a high return to investors after it started rising and has been able to maintain a stable ranking according to CoinMarketCap for some time now. Indicative of the success of the “Neo Network” it is often referred to as “Chinese Ethereum”.
Here are 4 important facts about NEO that you may not know.
The four facts about NEO include:
1) Neo Network supports many programming languages
It is rare to see any blockchain platform that supports as many programming languages as we can find in the NEO Blockchain.
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Some of the programming languages it supports are Python, C#, F-Sharp, Kotlin, Java, and Visual Basic.
This gives developers the opportunity to use the various software of their choice in creating their own ICO.
The Neo Network also wants to add other programming languages such as Golang, Javascript and C++ for developers to use in its blockchain.
2) “NEO” offers a special codename for new currencies
Not many are aware that the initial coin offerings of different coins created on the NEO blockchain are known as NEP-5, just like those created on the Ethereum (ETH) blockchain are called ERC 20 tokens or ERC23 tokens.
3) “Neo” is based on a quantum computer proof.
Very soon, most computers will advance to the use of a quantum computer, and since most cryptocurrency systems use computer-based rather than quantum systems, this is expected to change at some point in the future, forcing projects to rewrite their code. However, NEO has put itself at an advanced stage of technology by making its technology system ready for a quantum computer that ensures that the cipher is secured from being changed.
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4) Neo uses dBFT algorithms instead of Proof of Work and Proof of Stake
It is known that the main advantages of Proof of Stake (PoS), which is used by most cryptocurrencies nowadays, is that it allows mining to be performed with lower power requirements and is also friendly to the crypto ecosystem.
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However, in both techniques, splits can be created and forks are allowed. However, the dBFT technology on which the Neo Network is based ensures that no splits can be created and no forks are allowed.
Perhaps now you can see, why many consider NEO to be “Chinese Ethereum”. Some may see it thanks to the forward thinking and unique design of its creators, or its ability to incubate many projects and launch decentralized applications (dApps) on its network.
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