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NEO Features Projecting a Better Future

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NEO

As a distributed network for the smart economy, NEO deploys digital identities, digital assets, and smart contracts to regulate its blockchain operations. Also known as the Ethereum Killer, NEO aims to bring a solution to a lot of issues with existing systems.

Ethereum’s whitepaper was launched by Vitalik Buterin in 2013 and the launch of its crowdsale was done in July 2015, which resulted in the raising of more than 18 million dollars USD. Almost at the same time, Onchain, a non-profit blockchain project in Shanghai launched the Chinese version of Ethereum which was termed as AntShares.

In June 2017, the project went through a phase of rebranding and is currently known as NEO. The NEO platform provides support to smart contracts. It is popularly termed as the Chinese Ethereum on account of the fact that the functionality is similar between both the platforms. NEO coin is equipped with a lot of features that resemble that of Ethereum-like support for dApps and ICOs.

The Major Difference between Ethereum and NEO Smart Contracts

Put simply, NEO operates on a blockchain technology which can enable the creation of digital assets and smart contracts just like Ethereum. Contrary to most blockchain projects which are powered by a singular cryptocurrency, NEO has two tokens – GAS and NEO. Both the tokens play distinctive roles on the NEO blockchain platform. The primary goal of the NEO blockchain project is to be a distributed, virtual and decentralized platform for non-digital assets, using the help of smart contracts. For example, instead of using banks, you can use the smart contract created by the NEO platform can be used to pay monthly rent.

While the smart contract is one of the most significant reasons behind Ethereum’s popularity, NEO has the capability to beat Ethereum with its advanced version of smart contracts, which are termed as smart contracts 2.0. The smart contracts of NEO provide programmers with an easier platform that depends on lesser resources and boots up at a faster pace. While the blockchain of Ethereum is compatible only with the largely unfamiliar Solidity language, NEO coin is compatible with several common languages like C and Java. The NEO platform’s unique feature of compatibility with several languages makes the process of deploying smart contracts and developing virtual assets on it.

NEO’s Standout Features

Not just Ethereum and Bitcoin, the NEO coin has a distinction from other cryptocurrencies as well. The major points of differences have been discussed below:

  1. Indivisibility of NEO: One of the most unique features ofNEOtoken is that it cannot be disintegrated into smaller units, contrary to most other cryptocurrencies. For example, 0.5 NEO cannot be bought by a crypto currency user, but 0.5 eth or 0.5btc can be bought. The NEO tokens are indivisible since the team behind the cryptocurrency views these tokens as shares of a company. While this feature of indivisibility became an issue with the value of NEO surpassing 160 dollars. But a solution was quickly found out by the crypto exchanges. The crypto exchanges will let a user purchase smaller fractions of NEO. However, only whole NEO token can be transferred from an exchange to a NEO wallet.
  2. Generation of GAS: Another crucial area of difference lies with the two native tokens of the NEO community. While the NEO token lends the crypto-user ownership of the NEO blockchain, the GAS token is the one actually enabling the NEOtransactions. Most users simply buy NEO, reserve it in their NEO wallet and earn GAS free of cost. This is one of the most key features that lend NEO uniqueness over other cryptocurrencies.
  3. NEO network governance: The blockchain platform of NEO is equipped with two types of nodes: consensus nodes and ordinary nodes. The function of the consensus nodes is the maintenance of the ledger and offering of accounting services. On the other hand, the ordinary nodes serve the purpose of carrying out the NEO transactions. While most other cryptocurrencies use PoS (proof- of -stake) or PoW (proof-of-work), NEO operates on a Dbft (Byzantine fault tolerance) algorithm.

The consensus nodes are solely responsible for the validation of the transactions. There are currently 7 active consensus nodes, controlled by the NEO team.

NEO Charts Divulge Signs of a Rebound

After battling the bears for some time, NEO’s price manages to stabilize in a faltering crypto market. As of June 28, NEO’s price is climbing back to its previous high, taking its price to $29.80. As per the analysts’ predictions, the price of NEO might soar as high as $32.50 in the coming weeks. The price of NEO, which witnessed a 2% gain on Wednesday, is heading towards a more stable week.

At the time of writing, i.e. 28th June 2018, NEO is trading at a price of 30.09 USD, with a market cap of 1,955,837000 USD. It is ranked 13th according to Coinmarketcap.com. Even though this is lower than the coin’s worth at the beginning of the year, most speculators believe that this rough phase will pass away soon. NEO is being considered a good investment by the crypto experts due to its support from Chinese government and technical advantages over its biggest rival Ethereum.

Conclusion:

Due to its various unique advantageous features, it has the potential to transform the economy. That is why the business community wants it to stay.  Thus it can be concluded that NEO is projected to have a bright future.

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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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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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