Skip to content
Home » News » Neo smart economy: Revolutionizing the future of finance

Neo smart economy: Revolutionizing the future of finance

  • by

Contract Developer: Axlabs

The FungibleToken contract in the Neo smart economy was developed by AxLabs, a renowned blockchain development company known for their expertise in decentralized applications. With their extensive knowledge and experience in smart contract development, AxLabs has created a robust and secure contract that supports the NEP-17 standard.

AxLabs’ contribution to the Neo smart economy has been instrumental in driving innovation and facilitating the seamless integration of blockchain technology into various industries. Their commitment to excellence is evident in the design and functionality of the FungibleToken contract.

Nep-17 Standard Support

The FungibleToken contract is designed to support the NEP-17 standard, which is a specification for fungible token contracts on the Neo blockchain. This standard ensures compatibility and interoperability between different token contracts, making integration and interaction within the Neo ecosystem simple.

By following the NEP-17 standard, the FungibleToken contract allows for smooth token transfer and management, providing users with a consistent and dependable experience when dealing with Neo-based tokens. This standardization improves efficiency and promotes wider adoption and usability of tokens within the Neo smart economy.

Contract Authorization: Contractmanagement Contract (Hash: Fffdc93764Dbaddd97C48F252A53Ea4643Faa3Fd)

The FungibleToken contract is permissioned by the ContractManagement contract, identified by its unique hash: fffdc93764dbaddd97c48f252a53ea4643faa3fd. This authorization mechanism ensures that only authorized entities can interact with and execute functions within the FungibleToken contract.

By implementing contract authorization, the FungibleToken contract enhances security and mitigates the risk of unauthorized access or malicious activities. This safeguards user assets and promotes trust within the Neo smart economy ecosystem.

  • The FungibleToken contract is permissioned by the ContractManagement contract
  • The unique hash for the ContractManagement contract is fffdc93764dbaddd97c48f252a53ea4643faa3fd
  • Contract authorization enhances security and mitigates unauthorized access or malicious activities
  • It safeguards user assets and promotes trust within the Neo smart economy ecosystem.

Contract Owner’s Address: “Nm7Aky765Fg8Nhhwtxjxrx7Jel1Cnw7Pbp”

The FungibleToken contract is owned by the address “NM7Aky765FG8NhhwtxjXRx7jEL1cnw7PBP” in script hash format. The contract owner possesses administrative rights and has complete authority over specific contract functions, enabling them to effectively manage and regulate the token supply.

The contract owner’s address functions as a unique identifier and serves as a means of referencing the ownership of the FungibleToken contract. This approach promotes transparency and accountability within the Neo smart economy. By implementing this ownership structure, the integrity and functionality of the contract are upheld.

Please note the following changes:

  • Emphasized “FungibleToken” using bold markdown.
  • Made minor refinements to sentence structure and word choice.
  • Altered the order of some sentences to enhance readability.
  • Deleted unnecessary references to blockquote and headings, as specified.

Transfer Method

The FungibleToken contract includes a transfer method that allows users to transfer tokens from one address to another. This method enables smooth and secure token transactions within the Neo smart economy, facilitating the movement and exchange of value between users.

By utilizing the transfer method:

  • Users can seamlessly send tokens to recipients.
  • This fosters a vibrant token economy.
  • It promotes the growth of decentralized applications within the Neo ecosystem.

“The transfer method of the FungibleToken contract is an essential feature in enabling smooth and secure token transactions within the Neo smart economy.”

Initial Supply And Decimal Places

The FungibleToken contract has an initial supply of 200,000,000 tokens, representing the total number of tokens available at the contract’s inception. This initial supply sets the foundation for the token economy, providing a starting point for token distribution and utilization within the Neo smart economy.

In addition, the contract supports 8 decimal places, allowing for precision in token calculations and ensuring flexibility in token value representation. This decimal place configuration enables users to perform accurate and granular token transactions, enhancing the overall usability and functionality of the FungibleToken contract.

  • The FungibleToken contract has an initial supply of 200,000,000 tokens.
  • The contract supports 8 decimal places for precise token calculations.
  • It provides flexibility in token value representation.
  • Users can perform accurate and granular token transactions.

“The initial supply sets the foundation for the token economy, providing a starting point for token distribution and utilization within the Neo smart economy.”

Storage Map For Token Balances

To maintain accurate records of token ownership, the FungibleToken contract utilizes a storage map. This storage structure ensures efficient retrieval and management of token balances for each address within the Neo smart economy.

By using a storage map, the contract optimizes the storage and retrieval of token balances, improving performance and responsiveness. This data organization method plays a critical role in enabling seamless token transactions and maintaining an accurate representation of the token economy.

Symbol, Decimals, And Total Supply Retrieval Methods

The FungibleToken contract offers methods for retrieving the symbol, decimals, and total supply of tokens. These methods allow users and applications to gather essential information about the token, enabling them to interact with it effectively.

The symbol retrieval method provides the token symbol, which serves as a shorthand representation for the token in user interfaces and applications. The decimals retrieval method specifies the number of decimal places configured for the token, enabling users to accurately calculate and represent token values. Lastly, the total supply retrieval method provides the total number of tokens available in circulation.

Token Transfer Between Addresses

With the FungibleToken contract, users can transfer tokens from one address to another. This functionality enables seamless peer-to-peer token transactions within the Neo smart economy.

The contract’s transfer method ensures that tokens are securely transferred from the sender’s address to the recipient’s address, updating the token balances accordingly. By facilitating token transfer, the FungibleToken contract promotes the circulation of tokens and drives economic activity within the Neo ecosystem.

Token Balance Retrieval Method

The FungibleToken contract includes a balanceOf method that enables users to retrieve the token balance of a particular address. This feature is essential for users to monitor their token holdings and track their financial positions within the Neo smart economy.

By utilizing the balanceOf method, users can effortlessly query the token balance associated with a specific address. This information is valuable for financial planning and decision-making. The transparency provided by this method enhances user engagement and fosters trust within the Neo smart economy.

Deployment Method For Initialization And Allocation

The FungibleToken contract has a deploy method that initializes the total supply of tokens and allocates them to the contract owner. This method ensures the correct setup of the contract for token distribution within the Neo smart economy.

During deployment, the deploy method is called to set the initial token supply and allocate all tokens to the contract owner’s address. This step is crucial in establishing the token economy and granting the contract owner the ability to manage and distribute tokens as required.

The FungibleToken contract includes a deploy method for initialization and allocation of tokens.
Deployment sets the initial token supply and allocates tokens to the contract owner.
This step is critical for establishing the token economy and enabling token management and distribution.

“The deploy method in the FungibleToken contract is responsible for initializing the total token supply and allocating tokens to the contract owner. It ensures the correct setup of the contract for token distribution within the Neo smart economy.”

Update Method For Script And Manifest

The FungibleToken contract includes an update method that enables seamless and secure updates to its script and manifest. This method allows the contract to be upgraded or modified as necessary, giving the contract owner the power to enhance and refine its capabilities.

The update method ensures that improvements and bug fixes can be implemented without interrupting the overall operation of the contract. This flexibility makes the FungibleToken contract adaptable and future-proof within the dynamic landscape of the Neo smart economy.

This feature is crucial for maintaining the contract’s functionality and adapting to evolving requirements. It empowers the contract owner to keep the contract up to date and aligned with changing needs.

Bullet points:

  • The FungibleToken contract includes an update method
  • The update method allows for seamless and secure updates to the contract’s script and manifest
  • Upgrades and modifications can be made as necessary
  • The contract owner has the power to enhance and refine the contract’s capabilities
  • Improvements and bug fixes can be implemented without interrupting the contract’s operation
  • The flexibility of the update method ensures the contract remains adaptable and future-proof in the Neo smart economy.

Contract Destruction Method

In certain scenarios, it may be necessary to terminate a contract within the Neo smart economy. To facilitate this, the FungibleToken contract includes a destroy method that allows the contract to be destroyed.

The destroy method ensures that all associated resources and data within the FungibleToken contract are properly cleared and removed from the blockchain. This method is designed to ensure the secure and permanent removal of the contract, providing a mechanism for contract termination when required.

  • Key points:
  • FungibleToken contract includes a destroy method for contract termination.
  • The destroy method clears and removes associated resources and data.
  • It ensures the secure and permanent removal of the contract.

Quote:
“The destroy method ensures the secure and permanent removal of the contract, providing a mechanism for contract termination when required.”

Caller Verification Method

The FungibleToken contract includes a verify method that checks if the caller is the owner of the contract. This verification mechanism ensures that only authorized entities can execute certain functions within the contract, preventing unauthorized access to critical contract functionalities.

By implementing caller verification, the FungibleToken contract strengthens security and mitigates the risk of unauthorized activities or tampering. This safeguard protects user assets and upholds the integrity and trustworthiness of the Neo smart economy.

Contract Owner Address Retrieval Method

To enhance transparency and accountability, the FungibleToken contract includes a contractOwner method. This method enables easy identification of the contract owner by allowing users and applications to retrieve their address. By providing a clear reference for contract ownership within the Neo smart economy, it ensures transparency.

The contractOwner method plays a crucial role in maintaining the integrity and stability of the Neo smart economy. Users and applications can use this method to verify if the contract owner remains unchanged, ensuring that the contract operates as expected.

Improvements:

  • The FungibleToken contract includes a contractOwner method for easy identification of the contract owner.
  • This method allows users and applications to retrieve the address of the contract owner.
  • The contractOwner method enhances transparency and accountability within the Neo smart economy.
  • Users and applications can ensure the stability and integrity of the contract by verifying the contract owner remains the same.

Private Helper Methods For Balance Manipulation

The FungibleToken contract incorporates private helper methods for adding to and deducting from token balances. These methods are essential for maintaining accurate and up-to-date token balances within the contract.

By utilizing private helper methods, the contract ensures that token balances are properly manipulated and adjusted during token transfers or other balance-altering operations. These methods play a crucial role in maintaining the accuracy and consistency of token balances within the Neo smart economy.

In conclusion, the FungibleToken contract in the Neo smart economy represents a significant leap forward in the evolution of financial systems.

  • Provides a robust infrastructure for tokenization.
  • Facilitates seamless token transactions within the Neo ecosystem.

With AxLabs’ expertise and the adherence to the NEP-17 standard, the Neo smart economy is poised to revolutionize the future of finance, offering:

  • Unrivaled efficiency
  • Security
  • Transparency

List of pertinent information about the FungibleToken contract in the Neo smart economy:

– The contract is developed by AxLabs.
– The contract supports the NEP-17 standard.
– The contract is permissioned by the ContractManagement contract (hash: fffdc93764dbaddd97c48f252a53ea4643faa3fd).
– The contract has an owner with the address “NM7Aky765FG8NhhwtxjXRx7jEL1cnw7PBP” in script hash format.
– The contract has a transfer method.
– The contract has an initial supply of 200,000,000 tokens and 8 decimal places.
– The contract uses a storage map to store token balances.
– The contract has methods for retrieving the symbol, decimals, and total supply of tokens.
– The contract has a method for transferring tokens from one address to another.
– The contract has a balanceOf method for retrieving the token balance of an address.
– The contract has a deploy method that initializes the total supply and allocates all tokens to the contract owner.
– The contract has an update method for updating the contract script and manifest.
– The contract has a destroy method for destroying the contract.
– The contract has a verify method that checks if the caller is the owner of the contract.
– The contract has a contractOwner method for retrieving the address of the contract owner.
– The contract has private helper methods for adding to and deducting from token balances.
1. In the Neo smart economy, gas fees for transactions are significantly lower compared to traditional blockchain networks like Ethereum. This makes the Neo network more cost-effective for users and businesses alike.

2. Neo’s consensus mechanism, known as Delegated Byzantine Fault Tolerance (dBFT), ensures fast block confirmation times of just 15 seconds. This enhances the speed and efficiency of transactions within the Neo smart economy.

3. Neo’s token, called GAS, is designed to fuel the ecosystem by providing access to various services and functionalities. Additionally, holders of NEO, the platform’s main token, are entitled to regular dividends in the form of GAS, making it an attractive investment option.

4. The Neo smart economy promotes digital identity solutions, which enable individuals and organizations to have complete control over their personal data. This helps to enhance privacy and security in an increasingly digital world.

5. Neo has established partnerships with several prominent companies and organizations, including Microsoft China, Alibaba, and the Chinese government’s Internet Information Office. These collaborations demonstrate the platform’s credibility and commitment to facilitating the integration of blockchain technology into real-world applications.

Is NEO crypto a good investment?
NEO crypto presents an intriguing investment opportunity with its promising potential for long-term growth. Its recent release of N3 serves as a catalyst for the NEO price, raising the anticipation of future value. Renowned crypto traders and trusted publications have provided positive predictions, further bolstering the case for considering NEO as a worthwhile investment. With these factors in mind, it appears that NEO crypto holds substantial promise for those looking to invest in the burgeoning cryptocurrency market.
Is NEO a dead coin?
While some crypto experts have expressed pessimism about NEO’s future, declaring it a dead coin, there is still optimism among investors that its value could potentially recover in the next bull run. It is worth noting that in the recent crypto craze of 2021, the blockchain experienced a significant increase in price, reaching a peak of over $117, which suggests there may be potential for future growth. Consequently, whether NEO is truly dead or has the potential for resurgence remains a subject of debate among market observers and investors.
What is the NEO cryptocurrency?
NEO is a dynamic cryptocurrency and platform built on blockchain technology, offering the ability to execute smart contracts and support decentralized applications. Born in 2014 as Antshares, Neo underwent a rebranding in 2017 under the guidance of founders Da HongFei and Erik Zhang. With its innovative approach to the blockchain, Neo provides a versatile ecosystem for developers and users alike, enabling them to leverage its capabilities in running decentralized applications and executing smart contracts securely and efficiently. Through its evolution, Neo has emerged as an intriguing option in the world of cryptocurrencies, opening up exciting possibilities for the future of blockchain-based platforms.
Is NEO a Chinese cryptocurrency?
While NEO does have its origin in China, it is essential to note that it is not exclusively a Chinese cryptocurrency. Although often referred to as “The Chinese Ethereum” due to its Chinese roots, NEO is a global cryptocurrency and platform for decentralized applications. It shares similarities with Ethereum but aims to expand the potential of blockchain technology beyond traditional payment systems. Thus, NEO should be seen as a worldwide contender rather than solely a product of China’s cryptocurrency market.