What is NEO? Easily explained

In this article we explain in a few words what NEO is. The successful cryptocurrency comes from China and is Ethereum's biggest rival there.

NEO - that's behind the cryptocurrency

• NEO is a cryptocurrency, just like Bitcoin or Ethereum. With her, the focus is on the so-called smart contracts. With these, the cryptocurrency can be used as a base for applications.
• NEO was founded in 2014 by Da Hongfei in China. He is considered one of the largest experts in the field of cryptocurrency worldwide. He should be very familiar with the Chinese market in particular.
• The way NEO works is very similar to that of Ethereum. It enables the currency to be integrated into applications, to carry out transactions and to fulfill smart contracts.
• One of the biggest differences between NEO and other cryptocurrencies is that NEO does not support mining. Instead, you will be rewarded for owning NEO in the form of GAS tokens.
• This functionality is intended to reward the long-term holding of NEO. The value of the currency thus remains more stable since users do not use it as speculation and buy and sell constantly.

In the next practical tips, we will show you how to make money online with cryptocurrency and compare Bitcoin with Ethereum.