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The Recent Global Developments of NEO: What Future Awaits for This Coin and Its Holders

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NEO
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When NEO was first introduced about two years ago, it didn’t have much luck in the competition against the big guns like Bitcoin or Ethereum. The market capitalization of both of these coins adumbrated the advantageous features of this coin. However, when Bitcoin and Ethereum started to exhibit their flaws in the form instability, lack of scalability and in some cases security, investors around the world started to look beyond these two while taking interest in slightly unfamiliar coins at the same time. Right in the beginning of this year, Bitcoin’s price plummeted drastically leading to a massive upheaval in the entire market. NEO, on the other hand, took full advantage of this situation and acquired the trust of a significant number of crypto-traders eventually gaining a formidable position on Coinmarketcap.

NEO is designed to provide a highly scalable network of various decentralized applications (DApps) to traders which is a significant advantage over Bitcoin’s slow transaction process. Also, unlike many other coins, NEO development team posts updates on a monthly basis to make their users conversant with the latest upgrades in the blockchain system. On 6th June of this year, the major NEO developments occurred in May were published. Here, a few of those updates would be discussed along with their probable impact on NEO’s future by the end of this year.

Technical Updates:

As far as the technical updates are concerned, NEO published an updated version of their roadmap where each of the technical developments that are about to occur in the next quarter of this year is unequivocally mentioned. According to this R&D roadmap, the Q3 of this year which would cover the months of July, August, and September, would undergo various upgrades including NeoFS research updates, NEP-8 stack isolation of NeoVM, joint development sprints of NGD and CoZ, NEP-9 URI scheme. The developments during the last quarter of this year would majorly include NEP-10 composite smart contracts along with initial tests of NeoX. This currency is currently on its Q2 phase NeoQS research update in progress.

As far as the decentralization property is concerned, the NEO development team has mentioned completing the API for acquiring nominee data and the frame for nominee application site. These two are likely to be launched and open sourced by the end of this month.

Community Updates and Partnerships in May:

On the 14th of May, NEO engaged in a strategic partnership with Ontology Foundation (ONT), another efficient cryptocurrency that was recently tokenized. Both of these tokens announced a MoU on technology as well as strategy integration. The purpose of the MoU is to allow NEO DApps to create a bridge between the blockchains with and without permission. The obvious results of this partnership would include:

  • Jointly running NeoVM to allow cross-chain invocations and transfer. This way, smart contracts on NEO ecosystem would be able to invoke smart contracts on Ontology and vice versa.
  • Jointly supporting the NeoX protocol and
  • Sharing APIs and SDKs

The NEO global community also went to South America during the previous month in order to extend their reach to more potential investors.

Updates in June:

The monthly report for May was released on the 6th of June. NEO has gone through several notable updates after that as well. Some of them include:

  • Release of Version 1.3.1: NEO Ledger Application version 1.3.1 became available on the Ledger Manager of Switcheo on the 8th of June. As a result, now users would be able to upgrade their ledger app and trade directly from the Ledger Nano S on the Switcheo Exchange. Switcheo also announced the launch of an upgraded version 2 shortly.
  • Partnership with Blockchaingamer: On June 13th, Blockchaingamer became the media partner of NEO blockchain ecosystem. As the online gaming industry is currently at large across the world, this partnership is likely to boost NEO’s popularity among the investors.

Current Scenario of NEO:

NEO currently holds the 11th position on Coinmarketcap with a price nearly equivalent to nearly $40 and a market capitalization of circa $2.6 billion (as of June 14th, 2018). Although the recent price trends do not exhibit any upsurge in price, the updates and partnerships mentioned above are likely to change this trend.

Final Thoughts:

Crypto-traders are well aware of the capricious nature of the market by now. So it is quite impossible to accurately predict a coin’s future. However, new technical developments and partnerships are always likely to create new opportunities and attract new potential investors. According to some speculators, this coin has even the potential to outperform Ethereum by the end of this year. Hence, the recent developments of NEO should make a positive impact on this coin’s 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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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