A Simple Explanation Of Neo CryptoCurrency In Under Ten Minutes

A Simple Explanation Of Neo CryptoCurrency In Under Ten Minutes
<a href="https://pixabay.com/users/designwebjae/">designwebjae</a> / Pixabay

A nine minute and nine second video primer on one of the largest cryptocurrencies Neo from one of our favorite Youtube channels – Aimstone below – first some text explaining the video from Aimstone followed by the video and a computer transcript below that -tell us your thoughts in the comments section below! Some investment managers and pundits are less bullish than Aimstone.. what do you think?

Aimstone on the video:

NEO Cryptocurrency platform offers a stable and secure blockchain for independent projects to utilize for their own purposes, be it data transfers, smart contracts, digitizing of assets, or creating their own altcoins for start-up ICO funds. In this last area, it has proven a tremendous success with ICO values reaching as high as 800% growth, a smart investment for speculators, and a sound way for enterprises to fund their business.

Here’s what Charlie Munger had to say at the Daily Journal meeting

Charlie MungerCharlie Munger spoke at the Daily Journal Corporation's Annual Meeting of Shareholders today. Although Warren Buffett is the more well-known Berkshire Hathaway chief, Munger has been at his side through much of his investing career. Q4 2020 hedge fund letters, conferences and more Charlie Munger's speech at the Daily Journal meeting was live-streamed on Yahoo Read More

00:00 hey guys hope everything is going well a 00:02 neo cryptocurrencies platform wants to 00:06 build a smart economy well this could be 00:09 the reason behind when neo searched the 00:12 all-time high of more than $160 per 00:15 token in this video I will explain what 00:19 is neo 00:20

how does neo platform functions and of 00:22 course what does the future holds for 00:25 neo the race to make the next killer 00:32 cryptocurrency and blockchain 00:33 applications continues the theorem is a 00:37 pioneered of this trend and still aims 00:40 to be the world’s major platform by 00:43 hosting number of smart contracts and 00:45 decentralized applications following in 00:48 the footsteps of ether many new 00:51 cryptocurrencies and blockchain projects 00:53 have gained some attention some of which 00:56 I have discussed in my previous video 00:58 such as Cardinal

all those projects 01:01 offer something different and that’s why 01:04 this is booming and the world is excited 01:06 in July 2017 a new contender has joined 01:11 the race in New York formerly known as 01:13 and shares what is neo neo is often 01:19 referred as a Chinese  ether or 01:21 aetherium killer by many people but in 01:25 this video I will not call it anything 01:27 like that

I think many cryptocurrency 01:30 projects have great future because of 01:32 the reasons for being built neo is no 01:35 exceptions neo is the first 01:38 decentralized open-source cryptocurrency 01:41 a blockchain platform launched in China 01:44 apart from the neo cryptocurrency neo 01:47 has one more crypto tokens called gas or 01:50 GA s I will discussed both later on in 01:54 this video 01:55 the Neo attacks itself as distributed 01:58 network for smart economy and

Neos gol 02:02 speaks volume above the smart economy 02:05 concept and quote goal to be a vanguard 02:09 in effort of building a smart economy 02:12 smart economy equals digital assets plus 02:17 digital identity plus smart contracts 02:21 the team of meal first let me apologize 02:25 in advance because I’m not sure how to 02:28 pronounce their names correctly but let 02:31 me try the main community members 02:33 included the founder donc fier 02:36 co-founder and co-developer zenki’s Inc 02:39

when Secretary General tell orangie and 02:43 other community developers operators and 02:46 contributors in EO of that form use 02:50 cases 02:51 digital assets neo aims to convert 02:54 traditional assets into digital by using 02:58 smart contracts those digital assets 03:01 will be decentralized and will be 03:03 protected by law using digital 03:05 certifications on the blockchain 03:08 implication of this will guarantee trust 03:11 digital identity a neo will enable the 03:15 creation of identity information of 03:18 organizations and individuals in 03:21 electronic form those identities will be 03:24 usable via …

multi-factor authentication 03:26 mechanism such as facial recognition 03:30 fingerprints voice recognition and SMS 03:34 smart contracts the name smart contracts 03:38 was first coined by cryptologist and 03:40 computer scientist Nick Zeebo 03:43 in 1990s the smart contracts platform 03:46 developed by neo is truly revolutionary 03:48 in neo 03:50 unlike other smart contracts platform

03:52  you do not need to learn any other 03:54 coding languages if you are developer 03:57 you can use C++ or Java or any other 04:00 mainstream programming language you can 04:03 get started right down to code your 04:05 smart contracts the Neos Universal 04:08 lightweight virtual mechanism has the 04:11 advantage of high certainty and high 04:13 scalability for smart contracts based on 04:16

This blockchain neo will support the 04:19 development of decentralized 04:21 applications by continuously supporting 04:24 and developing more 04:25 development tools and techniques some of 04:29 the examples of the central applications 04:31 are smartphones assisted legal smart 04:34 contracts and decentralized exchanges as 04:38 I told you early in the introduction neo 04:40 has two crypto tokens neo formerly known 04:44 as n chairs and gasps formerly known as 04:48 end coins the neo tokens act as an 04:52 investment tokens or the neo blockchain 04:54 it has hard cap of total of 100 million 04:58 tokens which will be used in the block

05:00 creation network management network 05:03 changes and other consensus requirements 05:06 those hundred million tokens were all 05:09 premised during the Genesis block 05:10 creation one unique thing to note is 05:13 that neo is unlike other 05:15 cryptocurrencies in the fact that it’s 05:18 not divisible the smallest unit will 05:20 always be one if the gas tokens also has 05:24 100 million hard cap but it acts as a 05:28 fuel for the neo blockchain unlike neo 05:31 tokens gas is divisible by the factor of 05:34 1 divided by 10 to the eighth power 05:36 which equivalent to 0.7 zeros and one 05:41 which is eighth decimal place 100 05:44 million gas tokens will ultimately be 05:47 generated through an algorithm

in about 05:50 22 years gas will be used for resources 05:54 allocation and network changes for 05:57 operations such as running decentralized 06:00 applications smart contracts and 06:03 providing incentive for maintaining the 06:06 blockchain market cap of neo the total 06:10 circulation supply of neo is 65 million 06:14 tokens the current price of each unit is 06:17 around 120 dollars at the time of this 06:20 video the current market cap is seven 06:23 point seven billion dollars and neo 06:26 currently takes eighth place among other 06:29 cryptocurrencies in terms of the market 06:31

capitalization how to buy New York 06:34 cryptocurrency a bind neo directly from 06:38 the fiat currency 06:39 is a little bit difficult but you can 06:42 always exchange your other coins such as 06:44 the bitcoins light coins or etherium 06:47 coins in the exchange of neo tokens the 06:51 procedure is very simple if you are 06:54 interesting you can buy neil from 06:56 finance exchange i will leave a link in 06:58 the description box below if you use 07:00 that link you will get free ten dollars 07:03 w

orth of Bitcoin best neo wallets neo 07:07 does not help many wallet options but 07:10 for early users there are definitely 07:13 options out there 07:14 hardware wallet such as ledger dan OS 07:17 it supports neo desktop wallet such as a 07:22 neo wallet web wallet such as neo 07:25 tracker and neo wallet and of course 07:29 paper wallet the future of neo neo is a 07:34 great project with the potential 07:36 equivalent or possibly even greater than 07:38 ethereum the neo iran’s are specifically 07:41 developed proof of state Constance’s 07:43 mechanism which is arguably the best 07:46 proof of stake mechanism available

Neos 07:49 blockchain is also quantum computer 07:51 proof which gives a huge advantage to 07:54 this platform in comparison to other 07:56 blockchain projects 07:58 additionally the ability to program 08:01 smart contracts and decentralized 08:03 applications in mainstream programming 08:06 languages such as C++ and Java is a 08:09 major advantage point this is positive 08:12 thing for developers because it lowers 08:15 the entry barrier for them to reduce the 08:17 time cost factors for learning the whole 08:20 news part contracts language this one 08:23 single point alone makes it a strong 08:26 competitor to ether because with 08:28 more common languages available to neo 08:31 more smart contracts and decentralized 08:34 applications will be deployed on this 08:36 platform which means price of neo tokens 08:40 may go to the moon


From technological 08:43 point of view neo looks much better than 08:45 many other projects out there so let me 08:49 know what you guys like or dislike about 08:51 this 08:52 platform share your opinions with me in 08:55 the comment section below if you guys 08:57 enjoyed this video hit that like button 08:59 and of course if you’re new to this 09:01 channel don’t forget subscribe for more 09:03 videos like this and thank you so much 09:06 for watching

No posts to display