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Coin Watch: NEO Anticipates a Reversal of Trends - Global Coin Report
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Coin Watch: NEO Anticipates a Reversal of Trends

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NEO
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When Ethereum was first released in 2014, it revolutionized decentralized applications with its innovations like smart contracts. But the market has come a long way from its initial days, witnessing a tremendous boom in currencies. Given the faltering state of the crypto market, choosing an investment option has become a neck-breaking job. NEO, which was previously called AntShares, is regulated by smart contracts, but it stands out from other smart contract-based ecosystems in terms of its approaches. As the next-generation cryptocurrency network, it enables users to automate the storage and exchange of financial assets on the blockchain. Widely recognized as “the Chinese Ethereum” or “the one”, NEO can be regarded as the Ethereum killer for its competitive advantages over the ETH.

NEO, the Strongest Cryptocurrency of 2018

Representing the third generation of cryptocurrency, NEO is much more than a decentralized network, as NEO can be looked upon as a smart economy. Although the blockchain resembles Ethereum in many ways, it stands for a link between the real economy and the digital economy. Such a link is difficult to imagine with other forms of digital assets and can initiate great changes in the digital finance world.

To achieve “smart economy” with a distributed network, NEO strategically deploys the blockchain technology and digital identity to digitize financial instruments. As evident from its name, digital assets are programmable financial assets that are present in the form of electronic data. The digitization of these assets is done using the blockchain, wherein users can expect a decentralized, reliable, traceable, and transparent solution. The best part of NEO blockchain is perhaps the fact that users can register, trade, and exchange various kinds of assets, proving the link between digital asset and the physical asset is possible through digital identity.   Besides the digital assets, the blockchain also uses digital identity to create a smart economy. Digital identity refers to the identity of individuals, organizations, and other electronic entities. NEO implements a system based on X.509, which complies with the highest standards of digital identity.

An Inside Look at the Rapidly Expanding NEO Blockchain Network

Although big names like Ethereum are grabbing all the attention from the investors, new smart contract-based cryptocurrency networks are gaining quite a momentum in the market. Ranking 12 by market capitalization, NEO comes with a range of beneficial features. One of the most interesting aspects of NEO that makes it stand out from the rest is the lightning fast transaction speed. While it is executing 1,000 transactions per second, the NEO team anticipates pushing the speed to 10,000 transactions per second. At this rate, the transaction speed can exceed 100,000 transactions per second by 2020.   The expansion plan is not limited to transaction speed only, and the team is working on making the system fully decentralized, besides implementing hyper v-m to upgrade its features.

As a promising cryptocurrency, it always strives to expand its user experience with new innovations. Besides implementing frequent upgrades, the blockchain attempts to stay connected to its users, releasing developments updates and technical reports as and when necessary. An inside look at the developments on the NEO blockchain reveals quite a number of influential updates. From MyWish CEO announcing that NEO crowdsale contracts are ready, Blockchaingamer.net becoming a media partner of NEO blockchain game development to NewEconoLabs hosting NEO game competitions, NEO is lighting things up in the crypto market.

NEO Charts Reveal Signs of a Reversal of Trends

Primarily designed for ICOs and Dapps, NEO also focuses on smart economy solutions, which include digital identity, registration, and asset digitization. Owing to the relentless efforts of the NEO development team and strategic marketing campaigns, NEO has seen a steady rise in the recent times.  While NEO’s reception has been phenomenal in the market, it was not entirely free from volatility. Looking at the price charts of the last few weeks, the bear run has sent currency in a temporary limbo. The most actively traded currency on Bitfinex, NEO has dropped by a striking 3.44% from its earlier position. With a market capitalization of $2,483,734,500, NEO is available for trading at $38.21 as of June 20, 2018. Although bearish sentiments are on the cards, the price charts reveal signs of a reversal. With NEO gearing up with interesting upgrades, the bull is likely to make a comeback in the coming days.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Jeff Bezos
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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

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