$ 6.96 right now
Trade name: NEO
Year of Foundation: 2016
What is NEO?
NEO crypto is called Ethereum’s killer but why? The thing is that all the new cryptos are usually developed to cover the imperfections of some of their older competitors. This applies to NEO as well. Founded in Shanghai, China, this crypto is claimed to build a so called “smart economy”.
How does Neo work
Neo is often compared to Ethereum as all the main implementations of Ethereum have been used for Neo, for instance, a blockchain technology. Today, Neo combines a lot of IT-novelties. For example, it is expected to convert traditional assets into digital, create digital identity of organization. The smart contracts technology which is one of the modern trends is intended to automate the process.
The Short History of NEO
NEO was created by an owner of the “OnChain” Da Hongfei with his team of developers. Neo is a renewed brand on the basis of Antshares. Today, it adheres to the highest IT standards. There were rumors that Chinese government was planning to ban ICO. It might create obstacles to Neo prosperity. Its worth would probably decrease until the needed amount of investments would be made.
How to Use Neo
Neo is run on a blockchain platform. The users need to create an account that works as a chain. Smart contracts make conducting transactions more automatized if the needed conditions are executed. Neo also uses an open-source code. Using such languages as C#, Java makes Neo extremely easy to develop. It reduces the cost and time spent on development making it much more competitive than Ethereum.
NEO’s highest recorded price was above $50 per token, so purchasing Neo tokens seemed to be quite a good investment. When talking about the current cost, Neo’s the price has fallen to approximately $15 per token. Though, it is worth to mention that market is highly volatile when it comes to crypto, so its price can fluctuate from cents to thousands of dollars. History shows that BTC’s highest price, recorded on 17th of December, 2017 was $20,000 but today Bitcoin is sold for around $7,000. It is quite difficult to estimate in advance how highly the price can rise or fall. So, investor’s expectations for Neo to be more expensive can turn out to be truthful. Currently, Neo market cap is estimated as $1 billion.