Antshares, that’s where it all started at the Chinese company Onchain in 2016. In July 2017, the name was renamed to NEO, making it the first public open source blockchain in China. Also called the Chinese Ethereum, because it also uses a blockchain where smart contracts are possible. As a result, just like Ethereum with Ether, there is also a currency with which the transactions are paid for on the network, called GAS. Due to the ‘Great Firewall of China’, bitcoin has difficulty getting off the ground, like any other Western multinational, and was even banned from using bitcoin. Where bitcoin is struggling in China, NEO has received support from the government to position itself as a cryptocurrency. Because the economy in China is growing explosively, they could benefit from this, provided that it keeps up with all the developments in the crypto world. Unlike other crypto it is not subdivided into decimals. Meaning, you will always have to buy or sell an entire coin.
