After cryptocurrencies became prominent in the last few years, so did their numbers, and we currently have almost 2000 different digital coins to choose our favorites from. While this is a good thing from one angle, it can also be a bad thing for another.
The rise in many cryptos shows that the interest in them is big. Different coins and blockchains are dedicated to solving different issues, which is seen by many as a step in the right direction.
However, this also makes it harder for investors to focus on a single coin, with so many others being there to distract them. Furthermore, it often happens that the true potential of one coin gets unnoticed due to the fact that the crypto is buried in the sea of other digital assets.
NEO is one such coin, and many believe that it is hugely undervalued. While NEO does have its own loving community, it would appear that the majority of investors are not aware of NEO coin true potential. Because of this, the investors are missing out on a great opportunity, while NEO’s way to greatness receives even more obstacles than the crypto would usually have to face.
With that in mind, we believe that NEO deserves more attention, especially when it comes to its finest aspects. It is a high-quality coin with a real chance to be a moonshot, and it just needs to be recognized as such.
NEO Coin was founded back in 2014 and was created by Da Hongfei under the name of Antshares. After a while, it changed its name to NEO, and it upgraded its smart contracts to a much better quality. Its goal is to create a fully-functional smart economy which would integrate digital assets, smart contracts, digital identities, and more. This smart economy would be functioning as a P2P network, with no need for a middleman in any sort of transactions.
Since its creation, NEO has gathered an excellent team, great technology, numerous unique features, and has become very developer-friendly. Its community of programmers has grown a lot over the years, and the coin has supporters all around the world.
Now that we know the basics, let’s take a look at some aspects of NEO that actually make it a potential moonshot. In the end, you may start sharing this opinion as well, especially after reviewing some of this project’s best features.
NEO’s top features
1) Numerous high-quality dApps
Most blockchains are developed with the creation of dApps in mind, and NEO is no different. Its dApps cover many different sectors such as gaming, IoT, music, WiFi sharing, advertising, and more.
And while the launch of a smart contract is a bit more expensive on NEO than on Ethereum, this will likely help maintain only the best-quality projects on the network. Ethereum has far more dApps developed so far, but a lot of them are not of high quality and are only clogging the system.
2) Gaming on the blockchain
It should be noted that NEO has a special domain NEO.Game, which is an exceptional platform from game development on the blockchain. So far, the coin’s team has assigned more than $30,000 in rewards for gamers on the blockchain. Right now, there are more than 30 games that NEO blockchain is creating.
We should make a point that blockchain gaming is not the same as gaming as most of us know it since it mostly focuses on earning virtual assets. These assets can then be sold or traded, and many believe that gaming is the easiest way for cryptos to enter the mainstream.
3) Easy creation of smart contracts
Smart contracts are one of the biggest aspects of any blockchain, and as such, they need to be as easy to make as possible. Otherwise, they will not be available to a lot of people, and the blockchain will lose in terms of popularity. This is something that NEO understands, and its blockchain supports several programming languages, like Java, C#, F#, Kotlin, and VB.Net. The team is even planning on introducing more languages, which will make NEO smart contracts even easier to create.
4) The developer community
With a blockchain that is focusing so hard on development, as well as on creating excellent and easy-to-use development tools, it is not surprising that its developer community is so vast and supportive. NEO organizes meetups, creates new tools all the time, and even provides tutorials for aspiring developers.
It is all done with a goal of creating the best open-source community out there. This is one of NEO’s ultimate goals, and so far, it has done pretty well in this field.
5) NEO’s Cross-chain interoperability
Cross-chain interoperability is a very much desired function in the blockchain. This is, basically, a feature that allows cross-blockchain contracts within a single smart contract. In NEO’s cases, the feature was brought by NeoX protocol.
This protocol also makes NEO compatible with numerous other blockchains, with the only condition being that they support a simple smart contract functionality. For now, the feature is still in development, with the release date still pending.
NeoFS is a distributed storage protocol for NEO, and it utilizes DHT technology. This technology is allowing smart contracts to break up data files into smaller groups, and store it in the network’s nodes. When the user proves their identity, they can access these files with no issues.
Next, we have governance, which is one of the most significant aspects for a cryptocurrency, since it shows whether or not it is decentralized. NEO has received some criticism that claims that its nodes are centralized, especially since the project’s developers control the majority of them. NEO has, however, made efforts to decentralize them since.
With nodes being decentralized, the coin holders will be in charge of the blockchain, with decisions being brought via voting.
The speed of transactions is yet another big thing in the world of the blockchain, and NEO can reach between 1,000 and 10,000 Transactions Per Second (TPS). This makes it much, much faster than Ethereum, which can only handle around 15 TPS.
Because NEO does pretty much the same things as Ethereum, only much better, many have speculated that it is only a matter of time before NEO replaces ETH. However, this has yet to happen, and even though NEO is stronger and more modern, ETH manages to stay relevant.
9) NEO VM
Next, we have NEO VM or NEO Virtual Machine. It is similar to Java VM, as well as Windows .NET Runtime. It can use smart contracts in several programming languages and port them to different systems, even those with no connection to a blockchain.
Finally, there is the matter of partnerships. NEO coin has done pretty well for itself even here, partnering up with large venture capital funds, like its own NEO Global Capital, or Fenbushi Capital.
Most recently, NEO has been looking for partners in the gaming industry, which has le it to Parasec Frontiers. This is a company that is creating MMO games on the blockchain, and NEO has decided to join in on this project.
It also entered an agreement with a firm called Elastos. The deal is to explore common apps and technologies so that the smart economy can be developed even better.
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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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Top 3 Cryptos to Serve as an Alternative to Bitcoin
The crypto market continues to struggle on its way of reaching mass adoption, with most people focusing on Bitcoin. However, Bitcoin still has its fair share of problems, a few of which are quite challenging, with no guarantee that they will ever be fully solved.
While Bitcoin is, and has been the largest cryptocurrency from the moment it was created, there is no guarantee that it will remain at the number one spot forever. While this is mostly what skeptics tend to say, it is still a possibility that cannot be ignored. With that in mind, here are top 3 cryptos that might serve as an alternative to Bitcoin in the future, or maybe even now, considering how high its fees are, and how long its waiting periods tend to be.
XRP has become known as a ‘remittance coin’ due to its goal of providing better, faster, and cheaper international transactions. It was created by a company called Ripple Labs, and so far, it has been one of the best ways for sending money cross-border. It works in combination with Ripple’s products such as xRapid, fueling it and allowing for near-instant transactions at low fees.
The company has decided to offer its products to banks around the world, and most of the financial institutions decided to accept the offer. This is their way of trying to…
Why HODLing XRP, BAT, and EOS is a Smart Idea
The crypto market continues to grow, even though the prices of its many coins were severely damaged during the so-called ‘crypto winter’ of 2018. Even so, the market has grown a lot, and it currently features over 2,100 digital currencies, all parts of their own projects, with a goal of making an impact and entering the mainstream.
Of course, it goes without saying that not a lot of these coins have real potential. Many of them came to be during the ICO craze of 2017 and early 2018 when investors were willing to buy just about any coin. As a result, new startups emerged, each offering its own cryptocurrency. Most of these coins are believed to be bad projects with no future, with only a matter of time before they are declared ‘dead.’
Let’s start with XRP. This is a coin created by a company called Ripple Labs. As a result, the coin has a strong connection to the company, which many have taken as proof that it is not a real cryptocurrency, that it is centralized, and that it will eventually fade away as a bad project.…
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The crypto world is currently facing an uncertain situation as a result of XRP value. Many fans of the digital currency are arguing that the worth should be higher than what it now. A poll taken by Twitter this year showed that 80% of the participants want XRP to be higher than Ethereum. The participant preferred the digital currency to occupy the second largest position against what experts thought. Since XRP has not offered much to improve its reputation, the participant’s reaction was surprising indeed.
From what we have seen so far, one question to ask is, why does the cryptocurrency have many supporters? The simple answer is that Ripple focuses on offering remittance services to its fans more than other digital currency. The company offers many products of which one known as xRapid a cross-border payment service impress many supporters.
Why Fans expect an increase in value
Weiss Ratings did not hide the fact that their agency is not supporting Ripple. However, they admitted that the global payment platforms which the cryptocurrency created are commendable. This commendation proves that Ripple has been impactful in that area of blockchain tech application. Also, the players in the community have seen these achievements as well. Therefore, it is not a surprise that they expect an improvement in the market cap and price of XRP
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