Trade Neo to BTC on Beaxy

The NEO token is the native currency for the NEO blockchain, a platform built to host and maintain decentralized applications and smart contracts. Neo aims to provide a scalable, dynamic platform that supports a variety of programming languages. The NEO network uses proof-of-stake as a consensus algorithm and can support up to 10,000 transactions per second. It also contains an oracle component that enables smart contracts to access data from external sources. NEO's plan to institute cross-chain interoperability features come from NeoX, a platform that manages cross-chain asset transfers and decentralized transactions. The additional technology used by the Neo platform includes dBFT2.0 (A consensus algorithm with high stability, high TPS and single block finality), NeoVM (A lightweight, cross-platform and scalable virtual machine), NeoID (A customizable decentralized self-sovereign identity protocol), NeoFS (A distributed object storage solution for on-chain data applications), Dual Token (An innovative dual token economic model that optimizes on-chain governance and utility), Oracle (A built-in oracle component enabling smart contracts to access external resources), Voting Mechanism (A voting mechanism that enables participation of on-chain governance), and Smart Contract (A cross-platform, multi-language supported smart contract system).

You can leverage DApp technology on the Neo network. To develop A DApp on the Neo platform, start by setting up a network environment. This can be a private Neo Chain, a Neo-local chain, or a Neo test net. When your environment is set up, starting running your Neo node. You will be working with a command line and user interface node. Now that your environment is set and your node is running, you can develop a smart contract. After building your contract you are all set to integrate and deploy your decentralized application to the Neo network.

There are two native assets of the Neo protocol, Neo and Gas. The Neo blockchain does not use a consensus algorithm that is based on mining to create new coins. Instead, those that want to extract additional value from the Neo platform have to do so by staking their Neo tokens in exchange for additional Gas tokens.
The first step toward earning Gas tokens for staked Neo tokens is to set up a Neo compatible wallet that has staking features configured. Once you have installed your wallet and ensured that staking features are enabled, you can send Neo tokens to the wallet and begin staking them for Gas tokens. This is not an exchange of Neo for Gas, once your stacking period is over your initial Neo tokens will be returned to you and you will also get to keep the Gas tokens that you generated from staking. Neo staking is beneficial to the masses because it does not require any expense of electricity costs. You won’t need expensive hardware like a Graphical Processing Unit (GPU) or Application-Specific Integrated Circuit (ASIC).

Investment Risk Neo is a popular digital currency and it can experience very volatile price swings. The price of Neo regularly moves a lot in very short periods of time. This means that Neo is a very volatile asset. Increasing volatility is generally seen as an increase in the overall risk. Digital assets don’t have the liquidity of the stock market, whenever there is a large buy or sell order the price will reliably make a significant move. Security Risk Neo’s security risks stem from its purely digital nature. It is important to reduce your attack surface as much as possible when you are taking ownership of Neo tokens.. You can do so by holding your Neo in a wallet that is not connected to the internet. This requires a hacker to get your private key before they could gain access to your wallet. When using a wallet that is connected to the internet, a hacker may only need your password to a website in order to steal your Neo. When using an offline wallet with a properly recorded and stored private key, you have significantly reduced your attack surface. Regulatory Risk Neo is a digital asset that has not yet received official regulatory guidance from authorities. Governments believe that Neo can be used to launder money and they have a general lack of incentives to help Neo and other digital assets as they see them as a competitor to their national FIAT currency. Because of this, there is a possibility that governments could apply unusually harsh regulations for owning or spending Neo. This is a major risk as any such action taken by a powerful nation could negatively affect the value of the Neo blockchain.