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Can Antshares become Chinas immutable Ethereum? [TheMerkle.com]

Blockchain technology will make a big impact on our society as a whole. How these changes will be introduced is still uncertain. Various projects in the cryptocurrency space are working toward a similar goal. One of those projects is called Antshares, soon to rebrand to NEO. According to many people, Antshares is China’s Ethereum, but can it live up to the expectations?

What Makes Antshares Even Worth Considering?

NEO, or AntShares as most people still know it as, is an open-source blockchain platform fully developed within China’s borders. The company has its own currency, which is found on most exchanges as ANS -the switch to NEO will happen later this year- and seems to be doing well. This upcoming rebrand from Antshares to NEO is part of a bigger move to put blockchain technology in China’s spotlight.

There is an underlying ecosystem powering the entire Antshares project. Everyone who holds the native currency itself can generate “gas” to be used on the platform. This is quite similar as to how Ethereum works, with the exception of users being unable to use anything but ETH as a way to pay for gas. Right now, the generation takes place under the ANS banner, which is the native token of this entire project. Users generate ANC -Antcoins- to pay for transaction gas.

While all of this sounds great, Antshares will need to announce some big projects if it wants to become China’s Ethereum. However, that may be more likely than not. The Antshares team is working together with Chinese certificate authorities to map real-world asset using the platform’s smart contract technology. Additionally, they have successfully patented cross-chain interoperability, which will be quite significant for the future. The Antshares team welcomed some new startup partners last month, with more names to be announced throughout the year.

Antshare’s contract system is internally known as Smart Contracts 2.0 There are some big diff...

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