NEO Software Development
AllCode has performed NEO software development for a veritable cornucopia of clients. This software development has ranged from writing smart contracts to infrastructure pieces like neo-flux. We’ve even modified the NEO-GUI to manage offerings and provide refund functionality as you can see in some of the images to your right.
NEO is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to:
- Digitize assets
- Automate the management of digital assets using smart contracts
- Realize a “smart economy” with a distributed network
In combining digital assets, digital identity, and smart contracts, NEO plans to build a secure blockchain that is recognized by enterprises and governments.
NEO is the first platform to offer a feature set focused on enabling a regulatory compliant smart economy. NEO is different from other blockchain smart contract competitors as it provides the following features:
- Aims for Regulatory Compliance - For large companies and governments to operate on the blockchain, these institutions require the ability to audit digital assets and transactions. Digital identities will need to be known and verifiable. NEO is committed to making use of the Public Key Infrastructure (PKI) X.509 standard for identity, which means that NEO will have the ability to issue and confirm digital identities. NEO is building this digital identify mechanism into their ecosystem.
- Utilizes a Superior Consensus Mechanism - NEO uses an improvement to the Proof of Work (e.g. Bitcoin) and Proof of Stake (e.g.NXT) consensus mechanisms entitled, Delegated Byzantine Fault Tolerance (dBFT). The dBFT is a modification of the Proof of Stake protocol in which holders of NEO tokens vote for delegates, and the delegates must reach a consensus on acceptable transactions.
- Processes Transactions Faster - NEO’s use of dBFT means that its architecture does not require thousands of machines mining to complete a resource expensive algorithm to verify transactions. NEO’s consensus mechanism enables the blockchain to process in excess of 10,000 transactions a second without transaction costs.
These attributes, regulatory compliance, consensus mechanism, and the speed at which transactions can be made, make NEO the ideal platform for a secure wallet utility token.