NEO cryptocurrency – Price, Graph, Review and more

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Contents

Cryptocurrency NEO: Digital assets with the ambition to change the world

Thousands of digital currencies strive to prosper in the market. However, it’s only a few dozens that make a real breakthrough. And it’s only a handful of those whose goal is to change the transactions and legal system. NEO ranks among such players. What opportunities does it offer?

NEO, platform, and cloud

A currency knows today as NEO was launched in early 2020 (originally under the name AntShares). It was developed by a Chinese company Onchain, the very first players in the big dragon country. NEO got its name in June 2020 together with the impulse for the development of ambitious plans designed by the founders.

Based on the Ethereum concept, NEO it not a cryptocurrency in the true sense of the word.. It’s rather a consensus platform and digital asset allowing signing of contracts, storing of confidential documents or paying out commissions. Contracts known as NeoContracts, guarantee the release of a certain amount of NEO (or an encrypted file) in a reaction to meet the agreed conditions.

Short video-explanation: What is NEO

Replay the short video in English explaining what NEO is. It’s worth it. If you don’t speak English very well you can use YouTube’s automated translation with subtitles (in the right bottom corner)

Living up to promises

The popularity of NEO is reinforced by the fact that the creation of NEO requires just some basic knowledge of programming. Anybody with elementary knowledge of programs such as C# or Java will be able to create NeoContracts.

The fundamental nature of NEO blockchain makes it impossible to tamper. All changes of data need the approval from the majority of crypto holders.

NEO is also used as a cloud platform for archiving legal documents. The output is not negligible – according to OnChain, each day 800.000 documents are stored including contracts.

Faster, brighter

NEO continues to bite a bigger piece of the cryptocurrency cake. As to the issues of digital identification; NEO’ response was as follows: Until now it has not been possible to guarantee 100% certainty when signing documents electronically. This was implemented in the legislations of the USA and China. With the arrival of NEO, the situation has changed: Thanks to the NEO blockchain, the identity of a subject has been made constant.

Competition-wise, NEO is far ahead of its rivals. It is not only thanks to the symbiosis between the real and virtual identity; the developers behind this platform are consistently preparing for the arrival of quantum computers. In the framework of the NeoQS project, they strive to secure NEO so that it can resist computing power of the future electronics.

Another specific feature of NEO is its unique system of verifying transactions. The system can process thousands of transaction within a second. However, this is not the end. In the future, the developers plan to increase the capacity to 10.000 transactions per second.

NEO integrated several competitive advantages. Resource: keepingstock.net

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NEO as a digital asset

One curiosity about the first Chinese crypto attracting the attention of both investors and miners: Traditional mining is not the way to get NEO. You can get it only by purchase. It’s because NEO behaves as an asset. If you holder your NEO tokens in the right place (one of which is the official NEO wallet), the system generates GAS tokens. The tokens behave as traditional cryptocurrencies. GAS tokens act as a means of payment and can be used not only for buying products and services but also computing time to verify NEO and GAS transactions.

It’s only GAS token that can be mined. But this includes one more hitch. Not everyone can become a miner. The prerequisite for being a miner is the trust of the whole NEO community as well as the ownership of a certain amount of NEO tokens.

Where to buy NEO and GAS

Neither is available for cash. The only way to become an owner of NEO is to exchange it for “conservative” cryptocurrencies such as Bitcoin. (for example at Binance or Bitfinex). You will do this in case you want to hold the crypto or sell it in the future for a larger amount than bought.

This is not the only way to trade this crypto or make money. NEO can be bought as CDF, so in reality you will not be the owner of NEO you will be the owner of its value. With the growing value your risk will grow accordingly.

Another benefit of trading NEO as a CFD is the possibility of using leverage. This means that you can buy more cryptos than your current cash allows and use it for speculating on growth. Nevertheless, be cautious the risk of losing is proportional to the chance to win.

Practically speaking, if you have on your account USD 1 000 and NEO is traded at USD 100, you can buy 10 NEO. However, if you use leverage of 1 to 2, you can buy with your USD 100 account up to 20 NEO. If the price doubles i.e. USD 200 USD your profit will be USD 3000 (instead of USD 1000).

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And what about the price? As of 19 April 2020, the price of NEO was around USD 73.14, while GAS was available at USD 22.74.

Author

More about the author J. Pro

Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn’t very successfull with dropshipping on Amazon and other ways of making money online, and I’d only earn a few hundreds of dollars in years. But then binary options caught my attention with it’s simplicity. Now I’m glad it did because it really is worth it. More posts by this author

NEO cryptocurrency – Price, Graph, Review and more

NEO is a smart contract platform, similar to Ethereum, that was created by a team of developers in China and was formerly known as Antshares. It was designed to utilize “blockchain technology to digitize assets using smart contracts and common programming language”. The platform was created by Da Hongfei and Erik Zhang. It has the ability to process 10,000 transactions per second. It enables two types of tokens: NEO and GAS. NEO is not a currency or asset, but a proxy for voting rights within the blockchain governance system. GAS is an operational token to be used for transactions and smart contracts.

Markets News

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NEO Price Prediction 2020 / 2020 / 2020 / 5 years

In This Article

NEO BUY NOW Price Prediction & Forecast
[Updated 3 December 2020]

Thinking of investing in NEO in December 2020? Here are our honest price prediction and forecast.

Overview

NEO was developed in China by Da Hongfei and Erik Zhan as China’s first open-source blockchain platform. Ultimately intended to serve as a smart economy by providing digital assets through smart contracts, NEO is a good solution to China’s focus on peer-to-peer transactions over the past few years.

One of the main goals of the NEO (NEO) ecosystem is to assign a digital value to non-digital assets on the blockchain. Within the NEO network, houses, cars, and any other sort of physical possession can be recorded on the blockchain. The asset is assigned to a specific owner or identity through the use of smart contracts. In this way, NEO aims to enable transparency, immutability, and accessibility.

Each user is assigned a specific digital identity on the network with which to link assets to. A digital identity is valuable for verification and other legal purposes. Registered assets are also protected by law on the network through a validated digital identity system. NEO often refers to this concept as an onchain governance model.

In early Oct 2020, NEO announced the release of two new tokens on its network, the CNEO and CGAS coins. Designed to help facilitate smart contract functionality within the network, they are pegged to the existing NEO and GAS tokens, but with enhanced compatibility with NEP-5, NEO’s smart contract protocol.

Fundamental Analysis

From a fundamental perspective, NEO (NEO) is a strong contender for a top spot in cryptocurrency. It is a solid concept that was introduced into the Asian/China market at a very opportune time when other cryptocurrencies were being banned by Chinese governing bodies due to regulatory concerns.

NEO seeks to do the exact opposite of many other cryptocurrencies in its quest to ensure strict and seamless regulatory compliance. With goals to be not only a smart contract platform but also a comprehensive smart economy in the future, the importance of growing in ways that ensure regulatory compliance cannot be discounted.

NEO has the advantage of being founded and led by Da Hongfei, a Chinese digital currency pioneer who is highly respected in the crypto world as an expert in enterprise adoption as well as regulations. He also designed NEO to be compatible with numerous programming languages, including C++, C#, Python, Java, and Kotlin, demonstrating a strong commitment to creating a user-friendly network.

Technical Analysis

With NEO (NEO) maintaining its spot in the top 10 (out of over 4,000) cryptocurrencies currently in existance through 2020, the currency, commonly referred to as the “Chinese Ethereum BUY NOW ,” is a continued success story.

Coming from a respectable $6 USD in mid-2020 following a rebranding that worked wonders for its price (see chart below), NEO followed the rest of the cryptocurrency in an upward trajectory, peaking around $196 USD in January 2020.

However, NEO was one of the poorest performers through the bear market of 2020. Loosing nearly 40 percent in early August, it sank to below $14.50 USD.

As of Nov 30, 2020, NEO is down 4.58 percent over the past twenty-four hours to $7.89 USD.

Specialists’ Perspective

NEO (NEO) has long been a favorite of cryptocurrency experts due to its ability to enable the reliable digital management of real-world assets. Experts also appreciate the smart economy concept NEO offers, which encourages consumer safety through regulatory compliance.

Coming off a Jan 2020 market cap of over $10 billion USD, NEO has struggled alongside the rest of cryptocurrency over the past year. This unfortunate bear market certainly factors into to expert predictions and long term forecasting.

Smartereum offers one of the most promising forecasts for NEO, putting it over $1,000 USD within five years. However, their bright forecasts do not take into account recent and continued drops in price and market cap. While anything is possible with cryptocurrency, this prediction seems less feasible than other, more realistic outcomes.

Due to its ambitious infrastructure and innovative business plan, Investing PR puts NEO coin price predictions anywhere from $30 to $150 USD in the long term, while taking into account the difficult market NEO finds itself currently in.

NEO has taken a non-traditional approach to security Once you have the freedom of being the sole owner of your money, it’s now your responsibility to ensure the. More in the already non-traditional Proof-of-Work Proof of work and proof of stake are both ways of achieving trustless and distributed consensus on the blockchain. Many. More or the Proof-of-Stake Proof of work and proof of stake are both ways of achieving trustless and distributed consensus on the blockchain. Many. More crypto environment. It uses a delegated Byzantine fault tolerance algorithm, designed to decrease vulnerability on the platform, also serves to increase scalability.

Other concerns experts have voiced over NEO’s continued success in China and internationally will most likely have an impact on its price in the future.

Network instability and volume-based transaction delays continue to occur on the network. This is in spite of its claims of high scalability, causing concern for experts and investors alike.

DApp development on the NEO platform is also costly. Currently approaching rates in the thousands of dollars USD, this could be a strong deterrant for potential users. However, if a large scale application launch on NEO’s network, it would be a major boon for the currency’s value.

NEO Price Prediction 2020

NEO (NEO) predictions for 2020 are, overall, not positive, with experts predicting anything from a continued decline, with prices staying well under $10 USD, to a complete tank to zero.

According to WalletInvestor, NEO will not survive the current bear market. As one of the cryptocurrency market’s lowest performers over the past six months, it is understandable that some outlets paint this dismal forecast. We know that not all of the 4,000+ cryptocurrencies are destined to survive in regular market conditions, nevermind the tough times crypto has fallen into in 2020.

However, with the conditions created for cryptocurrency by the Chinese government, and the high level of trust NEO has elicited in Asian markets, it is not likely that this is the end of NEO. In fact, other conditions, including the platform’s accessibility for programming languages, make it a strong prospect, although not profitable in the short term.

Despite some strong opinions to the contrary, the overall market feeling is that the future is positive for NEO, and it will survive these troubled times.

NEO Price Prediction 2020

NEO (NEO) 2020 prices are forecast to reach anywhere from $13.00 to $16.00 USD over the course of the year according to sources such as LongForecast. However, 2020 trends throughout cryptocurrency, are difficult to predict under current market conditions. If there is a strong recovery from this year’s bear market at any point in 2020, we could see NEO rally to numbers as high as $120.00 or even above.

Other contributing factors to NEO’s 2020 performance will involve the success of NEO’s latest additions to their network, the CNEO and CGAS coins, which were generated in early Q4 2020. If they live up to expectations, the NEO platform will be significantly strengthened in the smart contract arena. Both coins have been created to better support smart contracts.

Using blockchain technology for smart contracts is one of the foundational bases of the NEO network as well as an increasingly important part of the cryptocurrency premise as a whole. Therefore, this could be positive news for NEO prices in 2020.

NEO Price Prediction 2020

NEO (NEO) price predictions for 2020 are again fairly speculative, given the current bear market. However, prices from $150 to $200 USD would not be an unreasonable expectation according to experts at UToday.

Long-term predictions are largely predicated on decisions made by the Chinese government. Currently backed and favored by China regulators, NEO is truly in a solid position in China, as well as Asian markets as a whole.

China has issued a plethora of bans and checks on other cryptocurrencies this year alone, leading to crashes from which some currencies never recovered. However, NEO is not only a Chinese government favorite, but it is also already being used widely throughout the country by businesses such as Microsoft China and Alibaba.

With its solid position in the Chinese market, it is likely that NEO is a strong two-year investment.

NEO Price Prediction 5 years

Five-year price predictions for NEO (NEO) are positive, with some specialists considering highs of up to $450 for the price of NEO. Several factors come into play, above and beyond the instability of cryptocurrency markets, when making long-term predictions of the NEO price.

First, NEO poised itself as the network of choice for a number of initial coin offerings (ICOs) in 2020. With the number of ICOs still rising exponentially, NEO is in a good position to benefit from the continued success of ICOs.

Also, NEO has proven itself to be amicable with the regulatory requirements in China. This is no small feat in a notoriously crypto-unfriendly environment. While things could change at any time at the government level, the collaborative relationship NEO has cultivated with China is a definite point in NEO’s favor.

One of NEO’s major risk factors is potential competition. With average transaction speeds of 15 seconds and a lackluster approach to branching beyond the needs of China, it is possible that other coins could overtake the stronghold NEO currently has on the Chinese market.

However, given NEO’s clear commitment to meeting consumer and industry needs in China, a five-year plan to buy NEO and hold is likely a solid investment.

Our Prediction

At BeinCrypto, our current prediction for NEO (NEO) to reach $200.00 in the next few years is based on the solid upward movement of the coin since its 2020 inception. Despite the terrible performance in 2020, we have considered the long-term potential of NEO reaching its goals and becoming a digital smart economy platform in China and beyond, and are cautiously confident that NEO is a more than solid long-term investment.

Period NEO Price Forecast
Best Case Scenario Worst Case Scenario
2020 $10.00 $0.00
2020 $120.00 $13.00
2020 $200.00 $150.00
5 years $450.00 $150.00

Disclaimer: This article is not meant to be used as personal investment advice, nor is it information from a qualified investment advisor. Cryptocurrency is a notoriously risky investment, and it is possible to lose everything. Please conduct your own research and investigation prior to investing in cryptocurrency.

What do you think of our NEO price prediction? Let us know in the comments below!

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