NEO Founder: We Aim to Be Different from Bitcoin and Ethereum
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Answer NEO Founder: We Aim to Be Different from Bitcoin and Ethereum
Bitcoin is the number one cryptocurrency that has made a huge contribution to this entire market.
But the fact that Bitcoin is the oldest currency does not mean that it is the best, as several cryptocurrencies have emerged for purposeful projects that have special advantages that differ from Bitcoin and are greatly improved, among these projects is the NEO project.
When the “NEO” project is mentioned, many observers present a stinging critic of it, saying that it is a central project in the political and administrative sense.
NEO is among the standout projects in the crypto arena despite criticism that the company is too inward-looking and too centralized.
Read:The Chinese government injects $4.7 million into a commercial blockchain platform developed by the central bank
The project white paper indicates that the founding members and their team are responsible for making strategic decisions, making technical decisions, and implementing specific applications.
Meaning that they are in control of the project and its progress.
While Mr. Da Hongfei, the founder of the project, indicated that the matter is temporary and will move from centralization to decentralization.
This is based on what he said to source:
To mitigate these neo-central flaws, we have a very clear plan to move from the current more centralized model to a more decentralized model in the future.
It would be advantageous to keep a relatively more centralized one for efficiency.
NEO is not the first blockchain project in the world, we are still tracking pioneering projects.
Mr. Da Hongfei’s statement related to both the Bitcoin and Ethereum project, and he explained this in a statement:
If we work in the same way as Bitcoin or Ethereum, we will be less efficient compared to today’s development.
We’ve seen some pioneering projects really take a hit in terms of their technological progress.”
Read:The rise in the price of Bitcoin affected the rise in transaction fees and reached record levels
The same speaker indicated that the Neo project is not trying to imitate any project on the scene
Pointing to the need for diversity, using a different governance model, and knowing who will win.
Read also:
NEO management in talks with CELR project to explore ways to expand
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