NEP-5

NEP-5 is an addition that was introduced into the code of the NEO platform in order to implement the function of creating own tokens for users. According to the developers, when creating such functionality, they focused on the standards of ERC-20 and ERC-223.

Contents

Advantages

  • Speed and Commission. The NEO network allows up to 1000 transactions per second. At the same time, there is no commission for such operations in the network. In turn, all transactions in Ethereum are paid and fees can reach quite high amounts.
  • Flexibility for developers. The NEO platform supports multiple programming languages. This allows users to start developing without retraining. Ethereum uses only the internal language of Solidity.
  • Resistance to forks. The NEO is based on the dBFT consensus algorithm, which eliminates unplanned forks, and makes it easier to update the entire system in the future.

Disadvantages

  • Limitation. NEO is considered a fairly young project, so it can not provide such wide capabilities and functionality as Ethereum.
  • Undeveloped ecosystem. The number of wallets and exchanges that work with NEO tokens is much less than with Ethereum.
  • Dearness. In fact, to run own token on NEO, users have to pay gas, the size of which can reach several tens of thousands of dollars.

NEP-5 coins

  • Qlink
  • Switcheo
  • Concerge.io
  • Moonlight
  • NEX
  • TheKey

Where to store

There are several proven wallets that are suitable for NEO and NEP-5 tokens. These include:

  • NeonWallet.
  • O3 (mobile).
  • Neotracker.
  • MorpheusWallet.

See Also on BitcoinWiki