NEO Analysis - Basic Guide for Newbies

jaimewilliam (53)in #cryptocurrency • 6 years ago

NEO is a cryptocurrency platform developed by Onchain, a company based in Shanghai, which started in the cryptoactive market with the name of AntShares, the platform is based on the creation of intelligent contracts and has achieved so much popularity to the point that some already call it the "Chinese Ethereum", since it provides similar improved features, including support for decentralized applications and ICO's. Although it is quite equal to Ethereum in some aspects, it takes advantage of the fact that you can program with most of the languages like JAVA, C / C # and GO, while with Ethereum you have to use Solidiy.

Next to the cryptocurrency "NEO" there is another called "GAS" which is the currency used by the applications in the system. NEO holders receive rewards in the form of GAS and can also be purchased separately.

Knowing the NEO Team

As I mentioned in the small introduction, NEO was created by Onchain, a pioneer company in 2014, which "is dedicated to the design, research and development of the distributed blockchain accounting system".

The team is led by Da Hongfei, founder and lead developer Zhang Zhengwen, general secretary Tao Rongqi, as well as other developers, operators and community partners.

Da Hongfei: He is the founder of NEO, he is also the CEO of Onchain, they were the first blockchain development projects based in China, so he is a true pioneer in this sector, thanks to this he has become one of the most known and respected characters in the world of cryptocurrencies.

From the updated website, you can locate that they list 8 developers, a front-end developer and an engineer working on the project. This coincides with his Github, which also lists 8 people.

Why Could It Be the Best Cryptocurrency?

There are several reasons why I see that NEO can succeed in the future: Ethereum has already shown that there is a need in particular for a platform that allows smart contracts and ICO, and the fact that NEO allows people to program their smart contracts in many languages it eliminates the barrier to the entry of having to learn a new language to do it, this opens a huge range of many possibilities to all blockchain developers in the world.

NEO has, over time, urged a series of very wide-ranging alliances, always inspiring confidence in a project when you see reputable companies associated with it. NEO has partnered with Bancor, Coindash and Agrello for example, which are among the first to have reached technical cooperation agreements with the green NEO cryptocurrency. There are also connections with the companies Onchain and Alibaba, the latter are big words as it is the largest e-commerce company in the world and possibly China.

Onchain along with Fadada and Microsoft have also started a Blockchain consortium called The Legal Chain. It has been created to provide digital evidence storage services, including digital contracts, intellectual properties, electronic medical records, etc.

Details about the NEO ICO

Like AntShares, they managed to raise about 6119.53 BTC or what was the same as 4.5 million dollars in a 31-day ICO; from August 8 to September 7.

NEO's 100 million tokens were divided into two parts. The first part is 50 million tokens distributed proportionally to the buyers of NEO during the ICO. The second part of 50 million NEO managed by the NEO Council to support the long-term development of the platform.

The growth of the platform and the cryptocurrency has been sincerely explosive during the year 2017 and 2018, since its ICO price of 0.03 $ reached a historical maximum of more than more than 150 $ in January 2018 and has recently been established in more than $ 60.

Conclusion

Although NEO has risen little this year, it is currently trading below target maximum price, so it could be a good entry point now to buy without worry: personally I think the token has incredible potential to reach more than $ 500, possibly by the end of this year according to the market. It seems to be a good long-term option, if you approach Ethereum's level of success, you would do very well if you keep NEO while collecting some GAS, I have high hopes for it and my favorite from its early days.