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
- 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:
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.
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.
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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…