Cryptocurrency itself is a revolution and now it is being taken forward by more trailblazing products. NEO is the newest addition in the list token protocols and it has gained quite a traction in a very short period of time. It has been introduced as a development platform which also makes the deployment of coins through its network. The features of this network has drawn attention of developers and experts all around the world.
The most innovative network
NEP stands for NEO Enhancement Proposals and 5 is number of times it has been created on the network. Therefore, NEP5 became the ideal name for the token produced by this network. Within a year of its launch, this standard became a preferred choice of many project owners because it allows the tokens to be generated at a much faster pace with a better mechanism.
The ecosystem of this protocol makes the documentation very easy and it related with every guideline of blockchain. This makes the production of tokens very easy and feasible at all the stages and enables them with many features. And the standard can be implemented to all the tokens generated in past, present and future. It is also very easy to change the root structure of any other token and make it an NEP5 with all features and attributes.
With many productive features
Though the basic mechanism is different, you can still compare NEP5 with ERC20 as they are best products of their ecosystems. However, when it comes to functionality the former is definitely better than the latter. The compatibility of NEO’s ecosystem with all the latest technology makes it much better than any other token standard. There are many things that make the development very easy and bring innovation into the entire community.
With this ecosystem, the developers are better equipped with resources and the process gets much more conducive for business. The transactions are faster even with more volume and their storage is also much easier than before. The distribution of public address gets much better tokens with wallets that are developed with the NEO framework. The amount which gets credited in the wallet is shown automatically and it supports all the major altcoins.
Adaptable to every business
Exchanges like Binance have also put their trust into the this token standard. It has inducted a far better structure for designing maximum number of tokens with top-notch functionality. In terms of functions, this new standard gives a chance to every business to regulate its norms and make them better with smart contract implementation. The consumption of gas is much lesser than any of the Ethereum tokens which also makes it much more affordable.
The overall cost of developing NEP5 token is very economical and that is also a reason why it is being adapted by most businesses. Blockchain projects can be easily developed on this architecture and it enhances the members of the network. There are many NEP5 token development companies that you hire for your own project. Coin Developer India is one of the experts in this domain who can empower your business with nothing but the best.
