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NEO Might Slay Ethereum in 2018, Here’s Why

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While big cryptocurrencies like Bitcoin and Ethereum are all the rage, smaller coins like NEO are rapidly gaining popularity among investors who are looking beyond the big market players. Ethereum, the smart contract-based blockchain, which went live on 30 July 2015, has grown over the years to become one of the largest blockchain networks. Although the Ethereum Enterprise Alliance (EEA) is collaborating with thousands of influential enterprises in various domains from banking to healthcare, the cryptocurrency has its own set of limitations. From the lack of documentation to frequent security breaches, Ethereum has been slammed by critics for its inefficiencies. NEO, on the other hand, is a renowned Chinese blockchain platform that anticipates resolving the challenges of Ethereum-based smart contracts solutions. Often recognized as” the One”, or simply “the Ethereum killer”, the digital platform deploys digital assets, DApps and smart contracts to provide users with smart blockchain solutions.

NEO, the Ethereum Killer

As a dynamic blockchain project, NEO resolves to mitigate the key challenges of the existing systems, which include scalability and regulatory issues. Due to some strategic partnerships and constant support from the Asian crypto community, NEO has scaled up appreciably and is widely accepted as a promising altcoin in the crypto space.

Functional since 2014, NEO was initially called Antshares. Subsequently, after two major crowd sales in 2015, NEO gained great momentums in the market. Going by the figures, on these two occasions, over 17.5 million and 22.5 million NEO were distributed for $550.000 and $4.5 million respectively.  Over the years, the popularity of NEO has witnessed a steady rise, wherein it is labeled as the Chinese Ethereum or the Ethereum Killer.

NEO’s Competitive Advantages over Ethereum 

Looking at the noise in the market, there has been a boom in the cryptocurrency market with many ambitious projects making groundbreaking moves to eliminate the challenges of the big blockchains. When compared to Ethereum, NEO, which is also regarded as the nemesis of Ethereum, boasts a number of competitive advantages over its competitor. The following points summarise the top advantages of this ambitious blockchain network:

  • NEO, which leverages smart contracts to power its decentralized applications, is inching towards a smart economy by being regulatory compliant. As evident from the mass reception, the vigilance from regulators has become strict, so it is natural to expect more scrutiny from the regulatory bodies in 2018. By prioritizing regulatory compliance, NEO has strategically placed itself ahead of the competitors.
  • Also, NEO capitalizes on DApps language, one of the most critical languages available in the market. While users need to rely on solidity in case of Ethereum, DApps offers a smarter alternative.
  • As per the latest updates, Binance is working closely with NEO to expand the list of NEP-5 tokens. Now that NEO has joined hands with Binance, NEO is one step closer to actualizing its goal.
  • Going forward, NEO can yield up to 10,000 transactions per second, which is impossible to imagine with ETH. Besides, NEO has recorded fewer scalability issues than its peers. Technically speaking, NEO’s technology is more forward-looking, which places him ahead of its competitors.
  • The big names like BTC and ETH are often criticised for its high transaction fees. In this regard, NEO comes across as an economical solution, as it charges no transaction charges.
  • The Quantum Computer Resistance offers a great degree of security, as it vows to protect users from security challenges.

NEO and the Market

NEO, a blockchain project developed for ICOs and DApps, stands for Smart-Economy solutions, whereby users can expect leading-edge applications like digital identity registration and digitization of financial assets. For its unique approaches to decentralized applications, NEO has generated a lot of noise in the crypto community and owing to the successful marketing campaign, its growth has been meteoric, to say the least. When compared to the first listed price of $0.172 in November, it has come a long way, rising by a striking 30,870%.

As per the price records of the last few weeks, NEO has experienced a drop in its value. While NEO is struggling to overturn the bearish sentiment, the big players, which include Ethereum, are trading in the red.  As of 13th June 2018, NEO is trading at $39.40. Ranking 11 by market capitalization, the altcoin records a market capitalization of $2,560,993,500 at the time of writing.

Final Thoughts

Bitcoin, which uses proof of work algorithm to run its functions, has been challenged by the more recent blockchain projects. When Ethereum was first introduced back in 2015, it was a game changer in many ways, challenging the way the blockchain technology was perceived. By introducing smart contracts and Proof of Concept protocol, Ethereum has brought new approaches to decentralization. In the meantime, many advanced blockchain projects have sprouted to challenge the ascendancy of ETH, and among the top challengers, NEO emerges as a potential threat. Unlike Ethereum, which uses smart Solidity to write its smart contracts, NEO enables programmers to use a variety of languages, offering unprecedented flexibility to the users. In any case, reviewing the prospects of NEO, it is not difficult to imagine this formidable blockchain platform as a potential Ethereum killer.

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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