Antshares Wallet - NEO Wallet

Anisa Batabyal
| 30 March, 2020 | 2 min

NEO is one of the recent blockchain spaces that is currently making waves in the cryptocurrency world. Although developed in China and initially known as Antshares, NEO is also known by “Ethereum killer" and “Ethereum of China". Many consider NEO to be an upgrade or at least a competitor to the Ethereum blockchain.

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With this technology that allows building decentralized apps with many programming languages, NEO holds a number one position in Cryptocurrency of the Year. At the beginning of 2017, the price of each NEO was $0.14, and within a period of 8 months, it rocketed up to $51. However, now after the correction, it has settled back to its current price of around $37. 

Although there has been a phenomenal market growth of NEO in 2017, NEO's project development hasn’t grown at the same pace and is still lagging in basic infrastructures like a wallet that deals with GAS cryptocurrency. Also, there are some scam NEO wallets bringing more confusion to the speculative market. 

Challenges NEO Holders Face:

  • Users are unaware of which NEO wallets are scam and which are legit.
  • The users are unaware of which NEO wallet generates GAS and which do not.
  • Users do not know which NEO wallets support the sending and receiving of NEO and GAS.
  • Also, holders are not sure which NEO wallet to use.

Since NEO is a newly created project, it doesn’t have enough wallet options available yet, unlike Ethereum, which has many reliable wallets. 

Top NEO AntShares Wallets

  • NEON Wallet (Desktop Wallet)

Developed by the City of Zion, NEON Wallet proves to be one of the best NEO wallets available in the market. They are not developed by any official NEO team, but the NEO developed have confirmed it to be 100% safe and authentic. Being a lightweight NEO desktop wallet, it allows one to store, receive, and send both NEO and GAS. This is a great wallet for beginners, and something awesome about this is that If you hold NEO cryptocurrency in NEON wallet, you can claim your automatically generated GAS.

  • Ledger Nano S

If the holder is planning to use NEO for a mid-term or long term, then a hardware wallet is best to keep, safe and secure. Ledger Nano S also supports other cryptocurrencies. 

  • NEO Tracker (Web Wallet)

This is a web-based wallet that has been created independently from NEO. Written in JavaScript, it allows the users to explore and interact with the NEO blockchain via the web. This web wallet uses some best practices to ensure the safety of your funds. When a NEO wallet is generated using this method, it gives you a key store file to download.

  • Ansy (Paper Wallet)

NEO paper wallets are best for those holders who are planning to use wallets for the long term. It is just a piece of paper with your public and private address printed on it. As the private keys are stored offline, there is no chance of any theft. Users can send any amount of NEO to your wallet using the QR code. Ansy paper wallets are easily available for download through Chrome or Edge browsers.

  • Atomic Wallet

It is a new multi-asset custody- free solution Edge management and secure storage of BTC, NEO, XRP, ETH, and over other coins and tokens. One has full control over their funds as the private keys are securely encrypted on the user’s device. Atomic wallet offers a wide range of features such as a built-in option to buy crypto with a bank card, decentralized storage for private keys, instant exchange, Atomic swaps, and an interface for custom tokens. 

These wallets are the best options currently available for storing NEO and GAS. The holders must make sure to have a fully researched the background and development of the wallet while choosing in order to ensure that it is legitimate. 

Mainnet and Testnet

The NEO node runs on the main net by default. The main net is an independent blockchain that has been launched officially. NEO also provides the test net where the developers can debug, develop and test their programs. A network fee of the test GAS is incurred for testing programs on the test net. On official websites, test net NEO and GAS can be applied free of charge. 

Testnet Features

  • Transactions, blocks, and other information in the test net can be easily viewed in the blockchain browser.
  • It provides a globalized network that is deployed on the internet.
  • Asset distribution, asset registration, contract execution, etc. 
  • Testnet cannot be used as a real environment for commercial applications.

 Thus, NEO is an open-source, non-profit Blockchain platform for decentralized applications. This helps to create a smart economy using the benefits of cryptocurrencies and blockchain technology.

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