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Coin Watch: NEO Anticipates a Reversal of Trends

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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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Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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