If you are into investing in crypto, you might have heard of the NEON wallet. It is one of the top-quality digital wallets that stores only NEO blockchain-based coins. Although not popular among entry-level investors, the NEO blockchain is actually a large crypto project that is similar to Ethereum. In this article, we will discuss the NEO blockchain and how to update your NEON wallet.
Key Takeaways
- NEO blockchain is described as China's Ethereum
- It has similar features and capabilities as the Ethereum network
- NEON wallet is a free light wallet
- To update your NEON wallet, download the latest version from GitHub
The NEO Blockchain
Also referred to as China’s Ethereum, the NEO blockchain has similar features and capabilities as the Ethereum network, including Smart Contracts, and allows programmers to develop decentralized applications.
Launched in 2014 initially as AntShares, the platform changed its name to NEO three years later and started a rapid development path. NEO blockchain introduced many features that were first developed by Ethereum, but at a significantly lower price.
Its main goal is to become a global smart economy network. You might have heard of the term “Smart Economy System”, which refers to the integration of DeFi tools and applications that make usual financial operations, such as payments and loans, much faster and simpler.
NEO blockchain has a vibrant community that cares about the project and frequently updates it to prevent loopholes and potential bugs. That’s why you should always update your NEON wallet to its latest version.
The NEON Wallet
NEON is a light wallet that does not require users to download the whole blockchain. According to its developers known as the City of Zion, the NEON wallet was developed to tackle three main issues that most digital wallets face: ease of use, safety, and speed of transaction.
NEON is a free wallet that lets you manage GAS and NEP-5 coins along with the NEO currency. You can receive bonus coins for holding NEO and NEP-5 coins in your wallet, but there is also a possibility to participate in NEO ICOs.
The wallet is supported by most operating systems and, thanks to the Ledger support, you can also integrate it with Ledger Nano hardware wallet devices. It is a great way to increase the safety of your data, but note that you will need to have enough space to install the NEO app on a Ledger device.
How to Update NEON Wallet?
The wallet is frequently updated by the City of Zion, so you should always have the newest version installed. To update your NEON wallet, simply download the newest version from this GitHub link and copy the downloaded files to the same folder where your NEON wallet is installed. On that link, you can also see which features have been added, as well as the full changelog for each version.
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