What Is NEO (Antshares)? Should I Buy Antshares? Where to Buy Antshares?
The price of Antsharesaka NEO has skyrocketed recently and everyone is talking about it. If you have been in the game of cryptocurrency, you probably knew about its potential and bought some of them when it was cheap. There are already some people making a few ten of thousand from the recent price hike. If you are still new to this coin, read on and find out what is Antshares and should you buy Antshares as part of your investment portfolio.
Disclaimer: The content below should not be taken and viewed as investment advice, but only information and opinions. This article is for information and illustrative purposes only.
What Is Antshares (Now Known as NEO)?
Antshare is one of the highest funded coins in an ICO. It is one of the earliest Chinese Blockchain projects and the first ever original and open source public chain project serves as a smart assets platform. Smart assets are the combination of Blockchain smart contracts and digital assets. Antshares creates new ways for assets to be registered, issued and circulated.
The source codes of Antshares VM are also available via GitHub now. The White Paper introduces a lightweight universal blockchain VM, which can be utilized by users on the Antshares Blockchain to deploy and execute smart contracts, upgrading digital assets into programmable smart digital assets.
AntShares keeps records of the transfers of digital assets with e-contracts. In AntShares digital tokens generated by e-contracts function as general underlying data and could be used for recording titles and assets, including equities, creditor’s claims, securities, financial contracts, credit points, bills, and currencies.
Antshares integrates E-Contracts, a way to register intellectual property, actual contracts, and other forms of ownership. Since China’s laws on patents and intellectual property have been loose. This system may give Chinese businesses the opportunity to better register ownership of the intellectual material.
Virtual Machine is the key technology to realize a smart contract system. Smart Contract is the vehicle of business logics that exist on the layer of technological implementation. The execution of smart contracts requires a runtime environment, i.e. a virtual machine.
On different blockchains, the expression capacity of smart contracts on business rules is limited by the capacity of virtual machines. The developers of blockchain applications should not only master the characters of the technologies of the blockchain but also functionalities of corresponding smart contract virtual machines.
When comparing VMs of Bitcoin, Ethereum, and Fabric, you can tell that Antshares VM has a faster execution speed, better performance, a more complete logic control (Turing-complete) and supports to advanced languages. The ledger data interaction and status maintenance can be more flexible, while the off chain data interoperability and integration can be expanded, empowering the Antshares VM to be a universal VM for multiple blockchain.
Antshares employs Delegated Byzantine Fault Tolerance (dBFT). It features two blockchain participants: professional node operators, called bookkeeping nodes, who run nodes to make money, and users. Proponents claim dBTF offers better security in blockchains. dBFT’s on-chain voting process dynamically votes in/out transaction validators and allows for universal consensus mechanism on public/permissionless and private/permissioned blockchains.
There is a White Paper published by AntShares where you can learn more about the system’s model and its open-source code, distributed under the MIT license.
Distribution of Antshares Coin
A total of 100 million ANS were created. 17.5million were distributed in the first ICO. 22.5million were distributed in the second ICO. 10million were distributed for early contributors, including the development team. 50million were held in reserve for bounties and other strategic investments, to be distributed within a year at a maximum rate of 15 million per year and they shall not be used in any circulation but only for the maintenance of small ant blockchain network security.
In October of 2016, Jack Ma from Alibaba announced that it would use a blockchain called the Law Chain, with development partners Microsoft and China’s open-source blockchain Antshares, as an email repository for its Ali Cloud platform. By backing up its email and cloud services on the Law Chain, Alibaba will enable large scale adoption of digital evidence and emails in Chinese courts.
This has significant implications for Chinese society. Ali Cloud is one of China’s top providers of computing services, domain services, emails, network security and big data analysis. With its data and emails preserved for judicial departments as courtroom evidence, this may be the first instance of blockchain being utilized by a state judiciary.
The Antshares team has teamed-up with Microsoft to work on R&D, specifically with their Azure PaaS. The team will be working on ‘The Legal Chain’, a consortium chain developed by Fadada (China’s leading online legal service firm), Onchain (a for-profit entity created by the Antshares team), and Microsoft Azure that provides a blockchain-powered digital legal evidence repository.
The team is also working with Microsoft in several other confidential initiatives like direct utilization of the Antshares blockchain. According to Da Hongfei, the creator of Antshares, their blockchain project will enable interoperability in the future that is increasingly heading towards a multi-chain environment.
Not only that, Antshares has also partnered with WINGS, a decentralized platform to create, join and manage decentralized autonomous organizations (DAO).
WINGS combines the ideas of crowdfunding with swarm intelligence decision-making through decentralized forecast markets into a project funding and governance platform easily accessible to anyone with a smartphone.
Antshares is a decentralized network protocol based on blockchain technology to digitalize assets or shares, and consummate financial business transactions such as registration, issuance, exchange, settlement, and payment through the Antshares peer-to-peer network. The partnership will advance the cryptocurrency ecosystem and establish new standards for safe funding of projects and companies.
Should I Buy Antshares as Part of My Investment Portfolio?
(+) Chinese product, Chinese is very patriotic on their own projects, so they will more likely support their own Ethereum version than the original one.
(+) Partnership with big brands such as Alibaba, WINGS and Microsoft. That boost the confidence of the public and attract more collaborations with other companies.
(+) Antshares Introduces Beta Smart Contracts 2.0 in May 2017. The concept of smart contracts has been well received by developers all over the world. Since the underlying technology of smart contracts has not been seen by the general public, Antshares wants to change all of that moving forward.
How and Where to Buy Antshares?
At the time of writing, Antshares (ANS) is available for Bitcoin through major exchanges in China and but only available in Bittrex outside of China. Users interested in purchasing Antshares with USD on an exchange may visit Bittrex.
If you would like to buy Antshares through Bittrex, follow their instructions for setting up an account and depositing funds. As Bittrex offers a different environment for acquiring Antshares in that you must buy it by fulfilling other traders’ sell orders. This means that prices may vary, sometimes widely.
There are very few direct fiat gateways into Antshares (ANS), for those who reside in countries that don’t have direct access to Antshares. That means the vast majority of people who buy Antshares did it with Bitcoin. Bitcoin is the first coin that most people buy so it’s hard for a different crypto to overtake the value.
STEP 1: Create A Bittrex Account
The registration process in Bittrex is super fast & easy. Less can be said about interpreting their dashboard, but it’s not the worst. Once, you’re approved here, we’ll get to the good stuff.
STEP 2: Buy Bitcoin
Registration is pretty straightforward, requiring things like your name, email, and a verification of your identity (eg: pictures of your driver’s license, etc). Once your account is created and verified, you’ll need to add a funding source like a bank account and/or a debit card. Once this is set up, you can buy some Bitcoin.
The reason I encourage my readers to buy BTC from Coinbase because you will get $10 free BTC once you trade your first $100 through Coinbase.
STEP 3: Transfer Bitcoin to Bittrex
Go to Bittrex “Wallets” from on the top right menu.
Here, you’ll see a list of currencies and you need for “Bitcoin.” When you find Bitcoin, click the + icon to open a lightbox in which you will generate a Bitcoin wallet address. Once you’ve done this, copy that long string of letters & number.
Now, go back to Coinbase. Here, you’ll navigate to the Send/Request tab. Now paste the Bitcoin deposit address you got from Bittrex into the “Destination” box and type in the amount of Bitcoin you want to send. You can opt to either move all of your Bitcoin or some fraction.
Just one click and your funds should be on their way to Bittrex. It will take a bit of time, perhaps 15 minutes or more, for your Bitcoin transfer to complete.
Step 4: Trade Bitcoin for ANS on Bittrex
To trade your Bitcoin (BTC) for Antshares (ANS):
- Check the price of ANS in real time (1-minute), and when you are happy with the price, say 0.0037 (BTC/AND) as shown in the below figure.
- Click the “Price” next to “Bid” and click “Last”. This means you are calling the platform to generate the latest bid price.
- Then, key in the number of ANS you want to buy next to the “Units”
- Click “Buy”.
You just exchanged Bitcoin for ANS. Be aware that there often isn’t much ANS for sale at the very lowest price, so you may need to repeat steps 1-3 a few times until all your Bitcoin is exchanged.
You then can check your wallet again and see the amount of ANS you have just purchased.