The world of cryptocurrency continued evolving since its inception. The need for new, different, and better systems remains crucial, and developers and users alike consistently rise to the challenge.
The Antshares platform, now called Neo, is no different.
This cryptocurrency has taken many forms since its inception in 2014. Antshares remains relevant, noteworthy, and successful.
What is Antshares?
Antshares, now NEO, is an open-source cryptocurrency platform with a decentralized blockchain organization architecture. This structure means there’s no governing body that regulates or verifies transactions or commodity transfers.
A vital feature of this platform is that it allows users to transfer a variety of assets, not just the NEO currency. This system includes physical products and other cryptocurrencies. To do this, users link their other item of value with a digital avatar on the NEO network. Once connected to the system, assets are then considered digital, legal entities and, as a result, are protected by law.
It is also possible to create products or assets using NEO. In other cryptocurrencies, the only form of value growth comes from the increased value of the currency itself. With Antshares, there are more financial opportunities.
How was Antshares developed?
Da Hongfei and Erik Zhang founded Antshares in 2014. They published their first white paper in September 2015. The early versions of the system were released that same year on the open-source platform GitHub.
Antshares runs on a computing setup called a decentralized Byzantine fault-tolerant consensus mechanism (dBFT). It can handle up to 10,000 transfers per second without crashing.
Another notable element is the creation of GAS tokens. These tokens are separate from the NEO tokens that create the primary value in the network. GAS tokens primarily serve to pay transaction fees.
When did Antshares become NEO?
In June 2017, Antshares became NEO. The name is based on the ancient Greek word meaning “new, modern and young.” With the renaming came a transition in vision.
NEO hopes to use its blockchain platform to bring a “smart economy” to life. So far, it has remained unbeaten in remaining relevant and ahead of the curve in the ever-evolving cryptocurrency market.
Where is NEO located?
Originally, Antshares was headquartered in China. There was no physical office until after the transition to NEO. Now, there are NEO foundation offices in both Shanghai and Seattle.
What makes NEO unique?
Many of the intentional design features that were built into the Antshares network from the start help to keep NEO at the forefront of current digital currency networks.
NEO is collaborative.
Unlike other currency networks, NEO allows for the use of other cryptocurrencies and a variety of programming languages inside their system. This setup makes it desirable for users across the world and in a variety of fields to participate in NEO.
This set of features entices developers to use the NEO blockchain. It’s one of the most accessible cryptocurrency platforms to use for real-world applications.
Antshares and NEO are inherently regulator-friendly.
Other platforms that grew out of anarchist movements work to maintain privacy and autonomy. Not NEO. NEO’s Onchain system was designed with increasing governmental regulations and oversights in mind. The centralization keeps transactions easy to trace by regulators.
As a result of all of these features, Antshares remains one of the most stable cryptocurrencies around today.