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NEO: Everything You Need To Know About China’s Largest Coin

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NEO
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Talking about quickly rising digital coins, we can’t miss on mentioning NEO. This coin, also China’s most significant and most promising coin with massive potential, is currently taking 10th place on the global coin ranking list, making it one of the top currencies at the current moment. To help you follow up with this coin, we are listing everything there is to know about NEO, its functionality, purpose, and role on the market of digital currencies.

What is NEO?

NEO was commonly known by its first and original name “Antshares” when it was launched under that same name back in 2014. Later on, NEO developers changed the mane to NEO, a name under which this coin is now widely known and recognized by. They have particularly chosen this name because it means novelty, new and youth in Greek, that way somewhat inviting novelties into the “career” of this, now striving coin.

NEO was designed based on blockchain technology, and at the same time it represented China’s first digital coin and soon to be one of the top ten world’s digital values. China’s attitude towards the global coin market can also be easily seen through based on the nicknames this currency was given and they also call it – Ethereum killer or China’s Ethereum.

As you know, Ethereum is one of the most significant coins in the world with a decentralized community that has no borders and where almost any sort of trading and doing business is possible through blockchain technology and smart contracts. You can sell your house on Ethereum, purchase numerous services and products, make free and prompt transactions and enjoy the perks of a large and functional community supporting this decentralized network.

NEO is aiming at creating a community much like Ethereum, with a drive of potentially reaching proportions of popularity and increased interest that goes beyond the current fame and status Ethereum has as one of the biggest and most wanted coins in the market. NEO platform is as well decentralized and operating based on blockchain technology, and as well as Ethereum, NEO has more than one currency allowed into the system of trading within the community.

The second currency that can be used within NEO community is called GAS. GAS tokens are being created with each generated block in blockchain while holding the value set by the market. There is a difference though between NEO and GAS when it comes to value and hierarchy. While NEO represents the primary source of value as well as the ownership over NEO blockchains, GAS solely represents a value that allows you to participate in the system.

Based on all features and functionality of NEO and GAS, you can conclude that NEO represents a decentralized community that is designed to make doing business and performing transactions a lot easier. This resembles Ethereum and the way this network works, having NEO also using smart contracts in an utterly secured environment that guarantees safe payments and the possibility to exchange any value, including real estate, shares and anything that might be valuable.

Ethereum VS NEO

Since both of these coins are competing for the same market, we thought it would be interesting to compare these two digital assets and the way both assets work. With NEO holding the 10th place and Ethereum holding the 2nd it is without a doubt clear that Ethereum is in the lead there, being among top coins for a long time without letting go of the 2nd spot on the list.

If we ought to compare prices of these two coins, NEO is worth 141$ per one coin, while Ethereum is worth the fantastic 1318$ per one unit. Ethereum is thus leading when it comes to price as well. But then we can see that in the last 24 hours Ethereum had a slight decrease of -2.88% while NEO experienced an increase of 7% which led it to the price it is now being traded at.

Just a year ago, NEO had a long way to go to be even able to compete with the big guys like Ethereum, but now this coin has taken 10th place on the global coin ranking list and is experiencing increases that are benevolently affecting this coin’s price as well as popularity and demand. We can quickly conclude that NEO is aiming at the top, slowly but steadily going up and growing with a broader community of holders, users and investors.

Already being China’s number one coin, also making it their first and most significant coin that has a decentralized environment and its own official GAS tokens, NEO could easily replace Ethereum if it is given the opportunity. The only thing that could resolve the issue of who’s the best in technology these coins are using.

At the end holders and users will decide that whichever coin has the most functionality, the lowest fees, and better technology would be the one having the most active wallets, which is in the end what counts when it comes to experiencing decreases and increases in price. Whichever coin is less sold and more used is the one that will get the opportunity of climbing the ladder to the top spot where the best rest.  For now, the crown still belongs to Ethereum, but the time will show whether or not this situation is going to change.

We will be updating our subscribers as soon as we know more. For the latest on NEO, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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