Many times, Neo (NEO) has been described as the Ethereum of China without dwelling deep on what this means and why it is relevant to the Crypto-verse. Many, if not all, crypto-traders know what Ethereum (ETH) is but the same cannot be said about NEO. This might be because the project and coin do not make headlines as much as the King of Smart contracts: Ethereum.
But let us try and summarize the NEO project in one go and get a feel as to why the platform is working towards building a better smart future.
NEO plans on digitizing assets on its blockchain platform. It also aims at automating the management of digital assets using smart contracts and to realize a smart economy with a distributed network. Once the assets have been digitized, they will be decentralized, trustful, traceable, transparent and free from any middlemen. NEO provides the connection between digital and physical assets through a digital identity.
The genius of this project is that developers do not need to learn any new programming language as is the case with Solidity on the Ethereum platform. Developers can program using C#, Java and other known programming languages thus making it attractive for the traditional developer like you and me.
With a budding list of partnerships to back NEO, it is only a matter of time before it becomes a force to reckon with in terms of blockchain technology and adoption.
With respect to market performance, the past has been really good to NEO. Back in January, NEO achieved some amazing values that peaked at $194. This means that this is a coin to invest in at an early stage before all hell breaks loose once again in the crypto-markets as anticipated by many traders and crypto-analysts.
Current market analysis indicates that NEO is currently trading at $53.60 and down 6.55% in 24 hours due to what can only be referred to as a retracement in the crypto-markets after a slight rally last week. Bitcoin, being the King of Crypto, is finding a difficult time maintaining levels above $7,500. All fingers are currently crossed hoping that BTC will not reach the predicted values of $5,500 to $5,700 for this might drag down the entire crypto-market.
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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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