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NEO is known as a Chinese version of Ethereum. Just like Ethereum, NEO strives to create an entire network, not just a cryptocoin. NEO offers smart contracts and plans to develop a decentralizing algorithm for mainstream applications and serve as a root chain for them. The main idea of this project is to solve current issues of smart economy and make it more trustful.
NEO is a real revolution on the Chinese market, because it makes an attempt to create an entire system for smart economy, more transparent and verifiable.
NEO’s developers work closely with digital assets, offering to record their ownership on the blockchain, connecting them to digital personalities by means of smart contracts. These self-executable contracts are based on the blockchain technology and function only if particular terms are met. The company had significant progress in developing digital assets since 2016.
NEO is an open source for smart economy, not just a smart-contracts platform. The developers claim that their goal is to take part in large and ambitious global projects, like serving smart economy to make it less programmable and digitalized.
Experts claim, that all of NEO’s features are efficient, not only the smart contracts and asset development. Due to the advanced technologies, created by NEO’s developers, the platform can scale thousands of transactions per second and this is another reason why this currency is a great investment.
NEO was launched in 2014 under the other name – Antshares. Project’s founder has already had a similar company called Onchain and used the resources he earned there to develop NEO. In 2018, Onchain distributed one token for five NEOs in users’ balances, so they could use these coins to vote on upgrades, security and other fundamental issues of the NEO system.
The unique case of recognition of NEO is an A grade from the very reputable source Weiss Cryptocurrency Ratings. The reason for flawless reputation and respect users and experts have for NEO is platform’s sophisticated functioning and stability. For example, BTC has lower grade for these features because of less advanced technology, slow functioning and high risks for speculations.
Also, NEO collaborates with corporations and governmental institutions, which may be beneficial in case government tries to take cryptocurrencies under control. This is a very important nuance, considering the fact that NEO is located in China. China is known for having rough governmental regulations as well as the largest crypto market in the world. However, experts say that legislative representatives will warn users to approach NEO with caution, like any other currency created in China, a country with powerful governmental structures. It is obvious that every initiative able to cut legislative control is going to be erased.
Still, crypto community willingly accepts NEO. Today, NEO is one of the largest currencies on the market with $3 billion capitalization rate. Obviously, the popularity of NEO coin makes its price grow.
NEO is not the only project that eagers to become a root chain for apps. We believe, that there will be more than one root chain in the future and a great number of companies will adopt this technology for sure. Considering the potential competition level, NEO should try hard to stay afloat.
NEO’s developers do understand that only efficient partnerships can place them ahead the competitors and this is exactly what they do. Also, NEO’s location makes it a really good investment, because Chinese crypto market supports NEO more than Ethereum. Comparing to the Ethereum’s price, NEO is still cheap, however we believe that this coin has a potential to become a strong ETH’s competitor in the nearest future.