What started as a race to become the only supercomputer in the world to host DAapps and smartcontracts has led to the mushrooming of a number of cryptocurrencies, from NTY, NEO to Ethereum classic and Straits, all these have different features which are why this world is almost booming out of proportion.
Recently a new contender NEO (formerly dubbed as Antshares) has been on the rise and for those following the altcoin trends, NEO is already a contender in the race. It’s not surprising that there is a fair amount of uncertainty surrounding the cryptocurrency on account of its complicated history. NEO has been closely associated with the NTY cryptocurrencies due to one major reason, they both have dual cryptocurrencies.
What is NEO cryptocurrency?
NEO was founded by two Chinese investors Erik and Da Hongfei in 2014 and has been referred to as China’s first blockchain platform. Basically, NEO which started out as Antshares (ANS) is a cryptocurrency as well as a blockchain. In 2016, the platform needed to accommodate the growing interest in ANS for both private sector and government, to that response Erick and Da Hongfei came up with OnChain which was supposed to handle blockchain financial services. Antshares was then rebranded as NEO in 2017, Like every blockchain, NEO has a base asset, the base asset for NEO is the non-divisible token which produces GAS.
What is NTY cryptocurrency?
The nexty platform is a Fintech ecosystem which aids the community to raise funds for e-commerce and technology start-ups. The platform has its own cryptocurrency dubbed NTY and possesses its own features that make it stand out from the rest.
Comparison between NTY and NEO.
NEO
While NEO comprises two tokens GAS and NEO (both capped at 100 million each), NTY has a duo cryptocurrency confirmation system that is discussed below in this article. The NEO represents the shares in the market and cannot be divided. NEO holders have a right to vote in the ecosystem and get the dividends in form of GAS tokens. The initial crowdfunding managed to distribute 50 million NEO. The other 50 million tokens were fixed in a lockout period of one year.
The locked tokens are managed by a group of project founders (NEO council) to maintain the ecosystem and support its development. Generally, 10 million tokens are awarded to NEO council and developers, another 10 million is directed at stimulating the maintenance of NEO ecosystem, 15 million is allocated to contingency and the remnant is invested to the blockchain supporting the ecosystem.
The alternate token, GAS, is generated at eight GAS per block in respect to the construction of the blockchain. The rate is decreased by one token for every two million tokes generated. Unlike NEO, GAS tokens can be divided.
NTY
Some of the significant features that make NTY cryptocurrency stand out include zero transaction fee, dual cryptocurrency, and instant transfer. The dual cryptocurrency works such that the main currency used for the daily transactions is the NTY while the NTF is used for the transactions authentication system. The two work in parallel, therefore the transaction authentication system and daily transaction systems are designed to work on a peer to peer system within a specified criteria to meet the functional requirements.
The vantage here is, the holders with NTF cryptocurrency will be awarded a substantial amount of cryptocurrency at a relatively lower rate at the end of the month. This means that the fee charged will be zero while at the same time holders who contributed to the transaction confirmation system gets some benefits. The benefits are calculated by POF algorithm. The NTF holder doesn't have the right to vote for decisions concerning NTY’s future, mining speeds, transaction rates or block size upgrades.
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