Neo bills itself as a “rapidly growing and developing” ecosystem that has the goal of becoming the foundation for the next generation of the internet — a new economy where digitized payments, identities and assets come together. Initially known as Antshares, this project was believed to be China’s first-ever public blockchain when it was launched in February 2014. The open-source platform subsequently rebranded to Neo three years later. As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operate an EcoBoost initiative that’s designed to encourage people to build decentralized apps and smart contracts on its blockchain. It’s often been likened to the Chinese version of the Ethereum network.
Ledger Nano S and Ledger Nano X are two popular hardware wallets that support Neo (NEO) cryptocurrency. These wallets provide a high level of security by storing your private keys offline and allowing you to sign transactions securely without exposing your private keys to the internet.
Additionally, the O3 wallet is another option for storing and managing your Neo (NEO) coins. While it’s not a hardware wallet, the O3 wallet is a desktop and mobile wallet that supports Neo (NEO) and other cryptocurrencies. It also offers features such as staking, dApps, and more.
Other hardware wallets that support Neo (NEO) include Trezor Model T, KeepKey, and Ellipal Titan. It’s important to choose a reputable wallet provider and follow the instructions carefully to ensure the safe storage of your Neo (NEO) coins.
The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.
Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.
If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.
There are several software wallets available that support Neo (NEO) cryptocurrency. Here are some popular options:
Neo Wallet – The official wallet for Neo (NEO), available for download on the Neo website. It’s desktop wallet that supports Neo (NEO) and GAS tokens, and allows you to manage your funds and interact with dApps.
O3 Wallet – A popular desktop and mobile wallet that supports Neo (NEO) and other cryptocurrencies. It’s user-friendly and offers features such as staking, dApps, and more.
Atomic Wallet – A multi-cryptocurrency wallet that supports Neo (NEO) and other popular coins. It offers a simple and intuitive interface, and allows you to manage your assets securely.
Neon Wallet – A desktop wallet that supports Neo (NEO) and GAS tokens. It offers a user-friendly interface and allows you to interact with dApps and manage your assets securely.
Exodus Wallet – A popular desktop and mobile wallet that supports Neo (NEO) and other popular cryptocurrencies. It offers a sleek interface and allows you to manage your assets securely.
It’s important to do your own research and choose a reputable wallet provider that meets your needs and preferences. It’s also recommended to keep your private keys safe and secure, and to regularly backup your wallet to prevent any loss of funds.
Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.
A software wallet is a free program that lets you store your coins on your computer or mobile phone.
The easiest Neo software wallets to get started with are undoubtedly Exodus, Atomic Wallet and Guarda . All wallets are very intuitive. Exodus, Atomic Wallet and Guarda is available on desktop for Windows, Mac and Linux, as well as on mobile for both iOS and Android. If you want more information you can read my Exodus, AtomicWallet and Guarda review.
Once you decide on an exchange, open an account and buy your Neo . Make sure to withdraw the Neo from the exchange to your personal wallet. Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .
The Neo (NEO) blockchain platform was founded by a group of individuals in China. The main founders of Neo are:
Da Hongfei: Da Hongfei is a blockchain entrepreneur and the co-founder of Neo. He is also the founder of Onchain, a blockchain technology company that provides blockchain solutions to enterprises.
Erik Zhang: Erik Zhang is the co-founder and core developer of Neo. He is responsible for developing the technical architecture and codebase of the Neo blockchain.
Together, Da Hongfei and Erik Zhang have been instrumental in the development and growth of Neo, which has become one of the most popular blockchain platforms in the world.
Neo (NEO) is a cryptocurrency and blockchain platform that has several unique features that distinguish it from other blockchain platforms. Here are some key aspects that make Neo unique:
Smart Economy: Neo is known for its concept of a “smart economy”, which combines digital assets, digital identity, and smart contracts to create a digital economy that’s more efficient and transparent.
Dual Token System: Neo has a dual token system that includes the NEO token and GAS token. The NEO token represents ownership of the Neo blockchain and can be used for voting on network upgrades, while the GAS token is used for paying transaction fees on the network.
High Transaction Speeds: Neo has a high transaction speed of up to 1,000 transactions per second, which makes it one of the fastest blockchain platforms in the industry.
Multiple Programming Languages: Neo supports multiple programming languages, including C#, Java, and Python, which makes it more accessible to developers with different backgrounds and skill levels.
Strong Community Support: Neo has a strong community of developers and supporters, who have contributed to the development of the platform and its ecosystem of dApps, wallets, and other tools.
Overall, Neo’s smart economy concept, dual token system, high transaction speeds, support for multiple programming languages, and strong community support make it a unique and promising blockchain platform with potential for widespread adoption in the future.
At the time of writing, there are 70.5 million NEO in circulation — and a total supply of 100 million. NEO tokens aren’t mined, and indeed, all 100 million of them were generated when the blockchain launched.
These tokens were distributed on a 50/50 basis — with half going to participants in a token sale, and the other half being split among developers and the NEO Council. At the time, it was confirmed that these funds would be used to invest in other blockchain protocol that the organization supports.
Meanwhile, GAS is generated every 20 seconds or so, whenever a new block is created. The number of tokens created gradually reduces every year, and it’s estimated that it’ll take 22 years for the total supply of 100 million to enter circulation.
The Neo (NEO) network is secured through a combination of consensus mechanisms, cryptography, and other security measures. Here are some key aspects that contribute to the security of the Neo network:
Delegated Byzantine Fault Tolerance (dBFT) consensus: Neo uses a consensus mechanism called dBFT, which is a variation of the Byzantine Fault Tolerance (BFT) consensus algorithm. dBFT ensures that all nodes on the network agree on the state of the blockchain by allowing nodes to vote on proposed transactions and blocks. This consensus mechanism ensures that the network is resistant to malicious attacks and ensures the integrity of the blockchain.
Cryptography: Neo uses advanced cryptography techniques such as elliptic curve cryptography (ECC) to secure transactions and user data. ECC provides a high level of security by using complex mathematical algorithms to encrypt and decrypt data.
NEO and GAS Tokens: The NEO and GAS tokens are used as incentives to encourage network participants to act in the best interest of the network. NEO holders can participate in the governance of the network by voting on important decisions, while GAS is used to pay transaction fees and incentivize node operators to maintain the network.
Consensus Nodes: Neo relies on a network of consensus nodes to maintain the blockchain and ensure its security. Consensus nodes are responsible for validating transactions and adding them to the blockchain. These nodes are chosen through a process of community voting and are required to meet certain technical and security requirements.
Audits and Penetration Testing: Neo undergoes regular security audits and penetration testing to identify and fix any vulnerabilities in the network. This ensures that the network is constantly monitored and updated to protect against potential security threats.
Overall, the combination of dBFT consensus, cryptography, incentives, consensus nodes, and regular security audits makes the Neo network highly secure and resistant to attacks.