NEO is a distributed network for the Smart Economy. It was produced to establish a scalable network of decentralized applications. The blockchain network supports a lot of high-level programming languages, thus, making it possess unique features that are capable of enabling it to become one of the best blockchain networks in a smart economy.
Nevertheless, even though NEO is decentralized and a very scalable network, its price has dipped in the market. Last month (July) its price decreased considerably to $42 per coin. More so, at the time of writing (as of August 2nd), the price has further dipped down to $28.21.
NEO, however, occupies the NO. 13TH position due to its market capitalization ($1,834,648,975). It is important to know that it is one of the most traded altcoins in the crypto market today. Even though NEO is at the price mark of $28.33 at the moment, the team behind it is working tirelessly to make sure it becomes a notable altcoin.
NEO Upcoming Changes and Developments
Recently, NEO stated that it would start an AMA on August 2nd. The two men behind NEO, Da Hongfei, and Erik Zhang, stated that the start of the new Reddit AMA is the beginning of a new era for the blockchain network since its community is growing really fast. NEO users can come up with their questions during the AMA session, this undoubtedly is a step that shows the NEO team has confidence and vision for their product. NEO team will start answering the questions starting tomorrow, 3 August.
Moreover, questions are rising about the NeonExchange – a decentralized exchange network that is powered by NEO. The exchange hasn’t been entirely active as a result of the regulations surrounding it, and most Dapps developers want this to be cleared before the ICO of NEX coins is launched.
Many individuals have voiced their opinion about this, but adequate measures are being planned at the moment, and the community would be briefed on this very soon.
Furthermore, other upcoming developments include the launch of NEO Name Service, which was produced by the NEO’s largest community in China, NEL. The NEO Name Service will help in the production of NEO’s addresses that are compatible with real-life.
NEL is also making plans to develop an NEO-based hardware wallet known as NEODUN. Another accomplishment of this NEO’s Chinese community is its collaboration with Trueblocks (a South Korea-based accelerator and market development team dedicated to Korea’s crypto market) to help foster NEO blockchain in the Korean cryptocurrency markets.
Additionally, NEO aims to foster a smart economy, and in doing so, it recently partnered with Certik (an official verification platform for smart contracts and blockchain ecosystem). This partnership aims to boost security and verify NEO’s digital assets and identity.
NEO recorded an increase in the number of transactions which were seen as spams. The blockchain network has highlighted its community the two parameters: MaxTransactionsPerBlock and MaxFreeTransactionsperblock. These parameters are measures recently created to protect NEO from too many transactions that may be malicious to it.
Also, the platform has advised that,
“Sending transaction with fee will be recommended. It’s easy and effective. The amount of transaction fee depends on how fast you need to get transactions confirmed by blockchain. In general, one satoshi gas will be enough.”
Some last words
NEO is also considering supporting an upcoming hackathon event in Latin America. The blockchain network has said in a Twitter post that the event will be held 3rd and 4th of August in Santiago, Chile. These and many more are coming up on NEO’S platform, but will these events reflect on its price? Well, as things stand, it seems these will. Let’s hope for the greenish NEO run ahead.
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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
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…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
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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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.
Calculate your total gains…
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