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NEO Features Projecting a Better Future

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NEO
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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

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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