NEO has Potential to Rule Asian Markets
The support which it received from the Chinese Government & regulators due to which is called “Chinese Ethereum”.
“NEO” is one of the top cryptocurrencies in the world. This coin has captured the major part of Asian markets even in desperate times due to arising of its regulatory issues. Currently, The NEO ecosystem has more vibrant due to the hard work of its developers and the participating community.
What is NEO?
NEO is a non-profit community blockchain project that comes into the market to provide the Dapp developers an easy-to-utilize platform. It is an open-source blockchain & cryptocurrency. According to the Company "It Functions as Distributed Network for Smart Economy”.The platform is seen by the latest & younger version of Ethereum. It was China’s First Blockchain project. The firm is allowed to trade in China in these desperate times. The support which it received from the Chinese Government & regulators due to which is called “Chinese Ethereum”.
Functioning of NEO
The Blockchain of NEO is capable enough to accommodate a wide variety of digital assets. The platform supports Blockchain assets, Digital identity & Smart contracts. It can also assist all types of Decentralized apps.
1. Two Heads: As we know NEO is a public platform that also leverages the Onchain network for the aim of creating an adequate governance scenario. Its features like interoperability have the potential to keep the platform at new heights.
2. Onchain: ONCHAIN, Founded in 2014 it is a private blockchain company that generally focuses on Government & Large Enterprisers. This is well known for its Decentralized Network Architecture.
3. Two Tokens: NEO comprises a two-tier system to help the users & developers in facilitating smoother transactions. The whole ecosystem relies on NEO & Gas tokens. There are 70,538,831 NEO in circulation.
Analyzing NEO Tokens
NEO is the cryptocurrency of the NEO blockchain. The crypto has a share in the blockchain of NEO.This crypto also plays a crucial role in governance.
One thing that is interesting about NEO that it has indivisible units and each has an appropriate share in the NEO blockchain. Like other cryptocurrencies like Ethereum, it cannot be divided.
It is the utility token for the network and was previously known as ANC- Altcoins.It is similar to Ether in the Ethereum network. Developers of the blockchain use it as transactions and users received it as a reward. Gas can also be exchanged for other cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc.
NEO has made its first appearance in the West and came as name “Antshartes” in 2016. NEO uses DOFT(Delegated Byzantine Fault Tolerant) system for blockchain consensus. 50% of the tokens were sold under ICOs and the remaining have been distributed to the NEO council.
NEO is on the list of the top 20 cryptocurrencies of the world and it has achieved a market capitalization of $5 billion in 2017. It uses easy programmable smart contracts which facilitates smoother transactions.
What Drives the Prices?
Like most cryptocurrencies, NEO is also volatile and we have seen many ups and downs in the prices. If you see the fall in the prices of Bitcoins then you should expect the increase in NEO and other Altcoins due to the creation of panic in the markets and traders, sell-off their assets before they make loss.
NEO is the new and emerging crypto that is gaining momentum in the Asian markets due to its backup of china. It is fully supported by China and also known as “Chinese Ethereum”.It has many features like other cryptos and it is on the way to coming with the latest specifications to serve the developer & participants.
Edited By Team CLIQTAX
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