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What Does the Future Hold for NEO?

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So far, NEO has demonstrated that the crypto doesn’t have to be within the top 10 in order to be successful. In fact, it has been one of the fastest-growing crypto platforms around. Still, this is a difficult time for all cryptos, and both new, and experienced investors have been wondering about this crypto, whether it has a future, and if so, what is in store for NEO. Experts believe that it does, and a very bright one, at that. Let us see why.

About NEO

NEO is a cryptocurrency that has yet to become big in the western part of the world. However, the East has seen its potential a long time ago. In fact, NEO is one of the most beloved cryptos in the East Asia, which is why it is often called ‘Chinese Ethereum’. It currently holds the 12th place on CoinMarketCap‘s list, but there are indications that this crypto might rise far above it, and reach the top 10 once more, or maybe even top 5.

Despite the fact that China is among the countries that are not that friendly to cryptos, they still made an exception when it comes to NEO. This is one of the first, and biggest reasons why the experts believe that NEO will go big sooner or later. It is based on its own blockchain and offers the creation of smart contracts and dApps.

We have already mentioned that it is called ‘Chinese Ethereum’, and this is no coincidence. In fact, NEO is a lot like Ethereum, but it aims to do things better, and eventually surpass ETH, which is no small feat. One of the biggest advantages that NEO has over Ethereum is the ability to allow developers to code in various programming languages, where ETH only allows for one, and it is the one of its own creation.

Some things that make NEO specific include the fact that it cannot be divided, which led to the creation of another crypto in its community – GAS. GAS basically serves as a smaller version of NEO and acts as a cent to its dollar. NEO’s platform actually has yet another crypto, which is a relatively new addition and is called Trinity (TCN). TCN is nowhere near as successful as NEO, of course, and not even as GAS. Still, it was listed on BCEX, which may only be a start for this coin.

NEO criticism

Of course, just like other cryptos, NEO is not perfect. One of the biggest issues that the investors have with this crypto is its centralization. NEO is still being controlled by NEO Foundation, which means that they are the ones calling the shots, which goes against the very point of cryptos. The crypto enthusiasts believe that the decision-making should be left to token holders so that the crypto would ‘do’ what the people want it to do. So far, it has not yet been centralized, although there are plans to decentralize it.

What will happen to NEO’s price?

At the time of writing, according to CoinMarketCap, the value of NEO token is at $31.43. This is significantly lower than what the coin used to be worth at the beginning of the year when it exceeded $160 per coin. Still, many believe that this is a rough patch, but the one that will blow over eventually, and that NEO will be able to return to the glory days.

There are many reasons why this may be true, and why NEO ultimately is a pretty good investment. The support from the Chinese government was already mentioned previously, but it is still a good one to start with. Additionally, NEO’s biggest adversary right now is  Ethereum, and despite its size, age, and many advantages when compared to BTC, Ethereum still has technical disadvantages when it comes to NEO.

Next, NEO is known for its concept of smart economy. This is maybe one of the most important reasons why this crypto is not going away since it allows for digitizing almost any of the real-world assets. The concept of smart economy involves even more, and it can be seen as a combination of digital assets, digital identity, and smart contracts. Thanks to the blockchain, traders will be able to get in contact with one another directly and conduct their businesses in a safe, transparent environment.

Conclusion

So, what does the future hold for NEO? According to everything mentioned earlier, this crypto has a reason to stay, and the business world has a reason to want it to stay. NEO brings a lot of various advantages, which will change the way that the economy works forever.

It still has a long way to go before it reaches the heights that it is expected to reach, but if one thing is certain, it is that this crypto is here to stay.

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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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Altcoins

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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Altcoins

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

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SonicX
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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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