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What Does the Future Hold for NEO?

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NEO

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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