NEO - The Chinese Ethereum?!

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Hi and welcome to today’s video, where we will be looking at the blockchain that has earned the reputation of Ethereum of China.

Make sure you stay until the end, where we take a look at how NEO’s tokenomics work.
NEO is a Chinese-based open-source blockchain that focuses on building a digital economy.
NEO does this by focusing on three aspects: digital assets, digital identities, and smart contracts.

NEO enables the creation of digital assets by allowing people to create digital identities for real-world assets like a car, a house, a painting, etc. This makes trading real-world assets very easy on the NEO blockchain.

The next area NEO focuses on is creating digital identities for people. NEO uses all the latest technology, including fingerprint scanning, facial recognition, etc., as part of its digital identity system.

The next area NEO places a big focus on is Smart contracts. NEO’s smart contracts can be built using some of the most common programming languages out there, including Python, Java, C#, etc

So how does NEO’s tokenomics work?
Well, NEO has two native coins: NEO coins and GAS coins
NEO coins are used for voting on validator nodes. They are also used for voting on important decisions that will affect how the network will run. They are also used for regular transactions like lending and borrowing etc
On the other hand, GAS coins are used for carrying out activities on the platform. People can earn GAS coins on their NEO coins just for holding them.
However, that won’t be available on the NEO N3 update.