Like Ethereum, NEO has a programming language. It uses smart contracts. And it has its own cryptocurrency token.
Both NEO and Ethereum offer the equivalent of an operating system that others can build on, much like when a programmer builds an app to run on the Android operating system on your phone…
Except instead of building phone applications, developers can build blockchain applications. These applications can include smart contracts, private blockchains, crowdfunding, messaging, documentation retrieval, payment processing… the list goes on and on.
One of the things that make this company unique is that it’s the only blockchain operating system in full compliance with China’s tough Anti-Money Laundering (AML) and Know Your Customer (KYC) rules.
[AML refers to a set of procedures, laws, or regulations designed to stop the practice of generating income through illegal actions.
In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately.
KYC is the process of a business identifying and verifying the identity of its clients. KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed agents, consultants, or distributors are anti-bribery compliant.]
Companies that want to be compliant with Chinese law will want to use this operating system to build their blockchain applications.
Another key feature of NEO is its ability to interact with other blockchains.
Right now, different blockchains, such as the Bitcoin and Ethereum blockchains, cannot share data. It’s like having two computers that can’t talk to one another.
NEO is able to link different blockchains together so both parties can share data with each other in a “cross-chain protocol.”
The combination of the cross-chain protocol with NEO’s built-in compliance will make it the development tool of choice in China.
I like NEO for all these reasons and more…
I believe NEO is a bit overprice right now. This is the effect of FOMO and so called "traders". They are always late to the party. Buy on dips, but I think we will NOT see NEO trading lower the $18 any longer. #TradeSmarter