NEO is a Chinese cryptocurrency similar to Ethereum in that it is a decentralized platform where applications can be built on. What differentiates NEO to Ethereum is that it uses a proof-of-stake system and supports more programming languages on its platform than Ethereum. It is also supported by the Chinese government. NEO not only plans to become the blockchain platform for China, but also aims to globalize. Today I'll be talking about NEO's current developments and future plans.
NEO will be hosting an Improved Blockchain Mutual fund called NEST. Its primary aim is to invite hackers to hack the network and spot vulnerabilities in its security. If hackers manage to do this, they will be rewarded in NEO.NEST itself is a recently developed Smart Fund programmed in NEO smart contracts with the goal of removing difficulties such as excessive risk, unreasonable threshold, moral risks and inferior efficiency. NEO's blockchain enables anyone to join NEST with a hundred percent transparency and no threshold, accompanied by a safe and free exit choice at whatever point in time.
NEO has also guaranteed a patent for cross-chain allocated interoperability. The patent enables NEO to turn into China's primary blockchain in which third-party sidechains are required to connect through, fundamentally turning NEO into a quasi-centralized platform.
In response to the recent ICO ban in China, Da HongFei (NEO's CEO) has mentioned that regulations are beneficial in the cryptocurrency world in the sense that it will help rid the market of bad money while allowing good money to flourish. In addition to that, he stated that NEO's design principles are compatible for compliance. He is confident that NEO will thrive along with regulations. This is true due to the fact that since the announcement of the bans, NEO has still been making advancements within the company and has been adding more members to its workforce.
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Please note that I am not a financial expert. I am simply sharing my opinions on the topic. Do not take my words as financial advice. Always do your own research.