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Reasons Why NEO Could Be The Strongest Cryptocurrency Of 2018

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NEO
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In the current situation of the market where the bull is running loose, a lot of people are getting attracted to cryptocurrencies. They are looking to invest more in coins which are ranked under the top 10 on CoinMarketCap. Big institutional firms and companies are benefitting from the market’s uphill trend due to their early investments. In these circumstances, many traders and investors have their eyes set on NEO. Its ecosystem is currently expanding and it’s been predicted to reach a new peak if the bullish trend continues. In this article, we shall discuss more NEO, its technology and features to ascertain whether you should HODL or not.

About ‘Onchain’- The Company behind NEO

OnChain is the company established by NEO’s founders Da HongFei and Erik Zhang in 2014. The reason why we must understand OnChain is that NEO’s functionality cannot be explained without understanding OnChain. Although, both companies are different but have similar interests that resulted in a partnership between the two. OnChain’s system is known as Decentralised Network Architecture or simply, D.N.A. the company aims to work with Chinese government and businesses that would act as major NEO adoption. OnChain develops public as well as private blockchain suitable for businesses and these blockchains link up to NEO to join decentralized economy. OnChain recently developed the ICO Ontology. The experience of OnChain and its motive to bring blockchain to business is a huge component of NEO’s potential.

Unique Features of NEO:

NEO is a second generation blockchain platform which has been every investor’s attention for the past two years and dubbed as ‘Chinese Ethereum’ but there’s much to know about the features of NEO formerly known as ‘Antshares’. When it was launched in 2016, the project focussed on digital assets and it couldn’t make its presence for the first 9 months. But after a major announcement of working together with the Chinese government and its rebranding to ‘NEO’ this project made everyone’s head turn.

Some of its notable features are as follows:

  • NEO’s Flexible Development Environment

NEO’s platforms support various programming languages which include Java, VN.Net, F#, Kotlin, C#, and Python. It also plans to add support for C, C++, Javascript, and Golang in future. This makes NEO a developer-friendly platform. NEO also provides developers with compilers and plug-ins for the languages it supports. These compilers can compile high-level languages into a set of instructions supported by NEO virtual machines hence, making the platform more accessible and flexible for all kinds of developers.

  • Delegated Byzantine Fault Tolerance Algorithm

All blockchain platforms rely on consensus to prove the validity of each transaction. Some follow Proof-of-Work methods while others apply another method called ‘Proof-of-Stake’. The main difference between the two methods is that the latter requires less energy than the former and it’s more eco-friendly. But NEO uses a different consensus method which is called ‘Delegated Byzantine Fault Tolerance’ or dBFT. The major advantage of this method is that it prevents the system from splitting and doesn’t allow forks. Which means there’s no chance of NEO’s platform ever being dragged into a controversial and unstable fork.

  • Notable Transaction Speed

Both crypto giants, Bitcoin and Ethereum have an extremely low transaction speed which is expensive too. But NEO can handle up to 10,000 transactions per second. The NEO platform was designed in such a way that it can handle mainstream apps and its better equipped for future.

  • Quantum Secure

We say NEO is ready for the future of technology because it has a quantum computer proof feature that makes it secure from future of quantum computers. As technology advances, quantum computers are close to being operational and means that nearly all cryptocurrency will be vulnerable because a quantum computer is able to break the cryptography easily. Hence, many blockchain platforms are trying to become quantum resilient. But NEO already has quantum resistant cryptography.

  • Suitable Platform for ICOs

NEO is constantly advancing as a suitable platform for ICOs by allowing projects to launch their tokens on its platform. Just as Ethereum has ERC-20, NEO’s platform has an equivalent token standard called NEP-5. Some projects are choosing NEO for its functionalities and ease and there are lot more ICOs to be up and running during 2018 due to the NEX ICO smart contract template.

All about NEO Trading:

NEO is well positioned on all big-shot cryptocurrency exchanges. It can be purchased from the following exchanges:

  • Bitfinex
  • BigONE
  • Binance
  • Qryptos
  • Huobi
  • HitBTC
  • KuCoin
  • Lbank
  • Coinnest

And many more. However, it’s not currently possible to buy NEO directly with U.S dollars. Investors who want to trade NEO must buy Bitcoin/Ethereum from an exchange that deals in U.S dollars such as Coinbase, GDAX, and Changelly. Then a trader can easily buy NEO from any of the exchanges mentioned above.

  • Current Market position

At the time of writing, NEO was ranked as 10th best cryptocurrency with a positive indication of 6.94% which guarantees that the price point $69.49 will rise even more. It has a total market cap of $4.5 Billion and within the last 24-hrs around $127 Million NEO has exchanged hands. Luckily, there are no radical changes in the crypto market and despite the recent market trend; NEO is set to rise above $75 in no time.

Conclusion

Bitcoin has finally made a comeback from its lowest price point in Q1 and is currently placed above $8100. But there’s no telling whether bulls will remain in command. Although there are huge capabilities in NEO’s project and OnChain is set to reach milestones in the near future, cryptocurrency markets are still volatile and forever unstable. Considering the present state of cryptocurrencies all over the world, we can conclude that NEO is worth HODLing this year.

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

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.

Image courtesy of DVIDSHUB via Flickr

Altcoins

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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Altcoins

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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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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