Blockchain technology will play a prominent role in the coming years. Different teams of developers are currently working on projects in the cryptocurrency space. A fast growing project in the blockchain industry is China’s Antshares which is soon to be known as NEO. Antshares has been touted to be the cryptocurrency of choice in China, surpassing the success of even Ethereum.
Antshares or NEO as it is now called is a 100 percent Chinese open source blockchain platform. The company’s currency, the ANS has wide acceptance in China. The transformation of the company into NEO will no doubt have a huge effect in promoting the use of digital currencies for everyday financial transactions in China.
Antshares integrates E-Contracts which can be utilized for the registration of intellectual property, contracts, and other forms of ownership. The currency also has a user-friendly user interface on its wallet app. Users who have the ANC in their wallets use them to generate antcoins for buying and selling on the platform.
Using an open source architecture provides compatibility with all existing programming languages. This will make it easier for developers as they won’t need to learn a new language for developing affiliate apps for the platform as its user base continues to grow.
The rebranding of the platform into NEO took place at an event at the Beijing Headquarters of Microsoft. The developers of the blockchain platform used the medium to showcase its new name and brand to the world. NEO in Greek translates to newness, novelty, and youth, which suggests the dynamism and energy of the promoters. Also at the event, participants were introduced to its advanced smart code technology which will help to facilitate decentralized commerce, digitized identification, and assets digitization. The rebranding effort is geared towards making digital currency in general and NEO specifically the cryptocurrency of choice in the nearest future.
The rebranding efforts have brought together the developers of the platform, affiliate developers, prospective investors and businesses that make use of digital currencies as a means of conducting financial transactions.
The CEO of the platform, Da Hongfei revealed that the new Improved NEO is already in talks with certificate authorities on how to synergize efforts towards mapping real life assets for digitization using smart contracts. He also revealed that the company had been awarded a new patent for cross-chain interoperability while also announcing the new partners of the platform.
NEW IN NEO
One of the new features NEO will be introducing is a blockchain investment fund called NEST which is similar in operation to Ethereum’s THE DAO but with a lot of improvements. The investment fund promises a worldwide bounty reward to hackers who can find bugs in their system. The investment fund will be peer review audited, after which tokens will be distributed for decentralized investments by winners.
At the event, NEO displayed it has the right team and energy to achieve its laid out objectives of becoming the industry leader both locally and internationally. With a market capitalization of $325,000,000 and a lot of prospective investors who are willing to buy into their vision, one can only wait to see the extent of growth or otherwise the platform will achieve in the nearest future.