NEO (NEO) – The bull is running loose and NEO is on the saddle. A cryptocurrency trend, fad or revolution has been happening for the past months and more people are being attracted to cryptocurrencies each day. Out of the thousands of altcoins, NEO has emerged as a top choice by many. While some traders earn profit from margins doing short term trades, a lot also hold on for the long run believing their investment will pay off greatly after a longer period of time. Many prefer NEO as their cryptocurrency choice and most probably they are right due to numerous reasons.
The world and market of cryptocurrency is relatively new and with it are the ups and downs as with any industry or business. Bitcoin still is the big leader even after undergoing a massive slide after its record peak high in December last year, 2017. Many of the altcoins in the market are actually correlated with the major coin players in more ways than one. Altcoin prices depend a lot on the volatility of the major coins and at times, even a minor trend movement could even have severe effects on altcoins. With approximately around 1800 coins in the market, it is vital that an altcoin offer unique and effective features for it to be able to compete in the market and hopeful progress for it to be tokenized and accepted as a legitimate cryptocurrency.
While most coins become irrelevant and lost in the haze of the crypto-revolution, the China developed NEO seems to be stable and standing its ground as a strong contender amongst the digital currencies. NEO is said to have a very similar blockchain technology platform to that of Ethereum and as such, NEO is popularly known to many as the “Chinese Ethereum”. Since early February of this year, NEO has had surges in its value and has become 6th in the Coinmarketcap position. Many are looking forward to NEO’s continued success and some even speculate it can perhaps be the strongest of the altcoins for 2018 given the proper partnerships and circumstances.
NEO operates on a blockchain platform which integrates Smart Contracts as well as that of digital assets development. Chinese coin developers Da Hongfei and Erik Zhang launched NEO in 2014, same year that Dash was launched. NEO was first named as AntShares, while Dash was known as Xcoin then. NEO was adpated as a name later on in 2016.
A staggering 10,000 successful transactions per second! Yes, that’s the amount of transactions NEO can successfully process in a blink of an eye. Let me say that again, “10,000 transactions per second”. Such calculative prowess is made possible by employing NEO’s Delagated Byzantine Fault Tolerance concensus system or DBFT for short. What makes this method advantageous is due to its ability to prevent any kind of splitting and does not allow forks. This makes NEO safe from the dangers and perils a controversial and unstable fork can bring about.
Another unique feature which make NEO something to look out for is its ability to be staked so that another form of cryptocurrency can be produced and utilized as fuel for the platform so that the deployment of smart contracts and other computations from within the platform are paid for. GAS Coin is that second currency. NEO also incorporates other assets from within its platform and such a feature is most likely to have a huge positive impact on NEO’s overall performance.
NEO improvements make it better then Ethereum
The founders of NEO Da Hongfei and Erik Zhang also established another company called OnChain. Although NEO and OnChain are different entities, both have similar goals and a strong partnership bond was in order. OnChain’s main purpose was to interact with the Chinese Government using a Decentralized Network Architecture or DNA. OnChain’s other mission was that companies that fall under its umbrella adopt NEO in its financial transactions.
As technology advances, many actually fear its progress, particularly that of “quantum computers”. The concern is due to unheard of calculating powers of quantum computers which will put even the fastest computers of present day to shame. Experts claim that the time is very near and some even believe quantum computers are already in existence. Such powerful computing can make present systems even that of blockchain platforms vulnerable to malicious attacks. A quantum computer can easily decipher secured encryption due to its superior system. NEO however claims that they have thought of this beforehand. They stated that NEO is set-up using a cryptography which is quantum resistant. Although how they did it remains in secrecy, the people at NEO are confident and assures stakeholders that they are ready for the threats of the next cycle of technology to come.
To date, NEO can be purchased using cryptocurrency platforms such as Binance, Bitfinex, KuCoin, Lbank, HitBTC and others more. A little downside to some would be that it still is not possible for traders and would be investors to driectly buy or acquire NEO using US Dollars. One would need to acquire Bitcoin or Ethereum first using platforms such as Coinbase, Changelly and GDAX and then buy NEO after. This is just a minor setback that many speculate would be dealt with very soon and not enough to tip the weighing scale of pros and cons to make a believer change his or her mind about NEO.
NEO set to break the $90 barrier very soon
NEO’s ranking in the cryptocurrency market is 10th as of time of writing. A recent 6.94% increase in value is a strong signal that it will break the US$90 barrier very soon and perhaps move up in ranking again.
The partnership that NEO and OnChain has along with involvement of the Chinese Government and industries are strong indicators that NEO could perhaps become 2018’s strongest altcoin. Due to Neo’s blazing transaction speed, versatility with program language, quantum ready security features and powerful alliance, NEO is destined for success.