NEO: Is China Holding Its Best Blockchain Asset Back?

NEO could become the successor to Ethereum, so why hasn’t it?

NEO might be the 13th largest coin on the open market, with a market value of $1.85 billion and a daily trading volume of $80 billion, but the ‘Chinese Ethereum’ has taken a beating of late. The value has spiralled and slid as low as $30.

It is now hovering between $30-$40. So what is holding NEO and the NEP-5 tokens back?

Hard Line Stance In China

China’s ban on ICOs and cryptocurrency trading last year certainly didn’t help and that was the start of a trying time for NEO. The price crashed and it has been a long, hard road to recovery. It sucked the wind right out this cryptocurrency’s sails, while traders were forced to move to Hong Kong.

NEO, along with EOS, had been touted as a successor for the flagging Ethereum, especially as the scaling issue remained unresolved. That was the darling of the second wave of crypto and the champion elect that had Bitcoin looking over its shoulder.

Now? China has to soften its stance on crypto before the blockchain can start to have an impact, and it is working on new standards for the industry. Until then, the government seems to believe it can separate out trading from blockchain-based projects.

The country needs to look at its draconian measures or it will get left behind by the likes of South Korea, which has embraced the cryptocurrency revolution.

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China Drawing Up Crypto Standards

Right now, China’s own legislation is strangling NEO. Will that change? That’s the gamble you’re taking and it’s the gamble that will define this ecosystem’s success, or eventual failure. NEO is effectively waiting for the green light to roll out blockchain and crypto services, including smart contracts, to all of China.

China’s current blanket ban on cryptocurrency is pretty much untenable in the long-term. The blockchain just has too many benefits to ignore and it goes hand-in-hand with a solid cryptocurrency trading environment. NEO, then, must play the waiting and lobbying game.

A Bad Year For NEO

Last year the only was was up for NEO. It passed Litecoin to become the world’s sixth largest coin in August, with a price nearing $150 and a total market valuation of $2.283 billion.

NEO has improved on the basic technology of Ethereum’s ERC-20 tokens with NEP-5 tokens that work with more languages and achieve more with smart contracts. It was billed as the next big thing, but a pure focus on China might turn out to be a huge mistake.

NEO’s mission is to bring the blockchain to China and it’s in pole position in this potentially dominant market, although China then pulled the rug from under them with the ban.

A Smart Economy Is Ready To Go

The NEO Smart Economy offers decentralized internet with its own operating system, nOs, and that means you could work in an entire ecosystem using NEO coins. It was the theoretical basis of a cashless society and the beauty of NEO is its scalability.

This works as a bank account for individuals or a linked system for millions. There are no transaction fees and the NEO coin should be relatively stable, as it is not a mined currency. There will only ever be 100 million coins that were issued at the start. 50 million of those coins remain with the Foundation.

GAS Follows Ether

GAS tokens power the smart contract and the fee is collected like a levy by NEO’s owners. The free price of entry was a deliberate ploy to tempt companies and the government on to the blockchain, where they would effectively pay a subscription to use the blockchain.

NEO holders get a steady stream of GAS tokens that are designed to make them hold coins, rather than sell. GAS is effectively a similar proposition to Ether on the Ethereum network. NEO has promised to issue 100 million GAS tokens by 2039.

Compliance Built In To Business

Smart contracts can have payments and compliance built in to the fabric of the deal, so the contract simply will not execute if either party doesn’t work in good faith. The contracts can effectively secure the amount required in NEO coins. The contracts, then, effectively take and hold a payment.

You can stagger several payments upon completion of certain conditions, too. That all happens automatically, with no human involvement, which means the blockchain is good for small businesses, as well as the tech and communications giants.

Bill payment on the blockchain could happen automatically at a consumer-level, too, which could streamline your life and endless services.

So, this is a good coin with great potential that isn’t quite living up to the early hype.

What Does NEO Need For a Surge?

After starting at just $0.60, it soared to peaks of $150.00. That seems a long time ago right now and it is mired in the $30-$40 realm.

To pull it out of this funk and set it back on its proper course, either China needs to change its stance on crypto, which looks like it will happen eventually, or NEO needs to change its focus and establish itself on the global market.

It still has the support of the Chinese government and can work on domestic blockchain products, but it needs to reinvent itself on the global stage and show China what it has to do with a comeback to those heady days of $150 and beyond.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Nick Hall
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NEO, EOS, and Cardano (ADA) – 3 Best Coins to Invest in Right Now

Investing in cryptocurrencies is always a risky thing to do, especially for newcomers to the crypto world. Deciding which coin is worth it, which of them might have a future, and which will provide returns on your investment is never easy. This is why most people decide to go for Bitcoin (BTC) and Ethereum (ETH). These two have proven their value, and have a reputation as coins that can make you rich.

But, are those the only ones that you can trust? Is there no other coin that is a safe bet? Well, there is. In fact, there are three of them – NEO, EOS, and Cardano (ADA). Of course, you should not take our word for it, which is why we will see why these coins are the best choice for new investments.

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NEO, EOS, and ADA
There has been a lot of talk about these three coins in the last several months, and with good reason. Each of them has managed to make significant advances, in their own way. They have experienced a significant increase at the end of 2017, just like all other coins. Despite the fact that they were hit hard after that, the coins kept fighting, and have even managed to reach some level of stability, hitting certain prices, at sticking to them.

NEO and EOS, even though they have their own goals, were even seen as rivals. Each of these coins has been seen as a possible candidate that has the power to kill off Ethereum and replace it. Additionally, they represent the third generation of cryptos, as well as Cardano. While Bitcoin was the coin of the first generation and has become its representative, Ethereum belonged to the second one and had become a representative of the second wave.

Now, the third generation is struggling to find a coin worthy of being the primary crypto of the third wave, and all of these coins are possible candidates.

Where does the potential of these coins lie?
NEO has a lot of potentials, especially in the eastern markets. It is designed to be very similar to Ethereum, in terms of what it has to offer. Many would argue that it is actually doing everything that ETH is doing, only better. It is also very popular in China, which has been known for its skepticism towards cryptos. These things have earned it the nickname ‘Chinese Ethereum,’ and this coin has a potential to dominate this untapped market.

As for EOS, it has made significant progress recently by launching its own MainNet. True, the launch did not go without minor issues, and the network even had to go offline for a bit due to a glitch that was discovered soon after the launch. Still, EOS’ team managed to respond and fix the issue very quickly, and the coin did not have any large issues since. Despite the glitch, launching its own MainNet is still a big achievement, and EOS has a lot to be proud of.

When it comes to Cardano, this is a coin that has had a lot of success in terms of quality and stability. The coin isn’t highly-valued yet, but it definitely had the smallest price oscillations of the three. It is also among the newest cryptos, and while many other coins made a mistake of rushing things in order to be launched as soon as possible, Cardano did not. Its team consists of professionals and academics who know what they are doing and the best way to do things. This is why they were focused on developing ADA’s technology for months, rather than hurrying to put the coin out there.

As a result, Cardano has never had any big problems, nor did its price constantly rise and drop, as was the case with many other cryptos. It has been and still is, one of the most well-balanced cryptos in the market.

All of these cryptos have entered numerous partnerships over the last several months, and they continue to improve with new updates, projects, and products. They are all seen as good investments and coins with a bright future ahead of them. A large part of the crypto community expects that they would skyrocket as soon as the market allows it, which is why potential investors might want to consider purchasing them while they are still underpriced.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: MaxPositives
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Excellent Projects Being Built On NEO (NEO) Platform

NEO’s popularity and user base is expanding rapidly. So too are the projects on NEO, many of which have the potential to grow exponentially. Here are three excellent projects that our experts are keeping a close eye on.



 

Effect.AI

Effect.AI plans to build a mechanical turk. Based on the historical chess playing wooden turk (a wooden machine designed to play and beat people at chess, which was really operated by a hidden man), this project is completely driven by ethics and ideals. It operates by empowering people in developing nations by paying them $10 per hour for jobs. These simple tasks can be anything from filling out forms to crunching numbers. The end results are filtered into the AI machinery and help to act as a humanitarian mission.

Bridge Protocol

This is a specific ID management system which is designed to efficiently streamline and simplify ICO whitelisting processes. Currently, law firms charge around $250,000 for a complete KYC whitelist process, and Bridge Protocol is aiming to significantly reduce this.

The company is based in the US and is dedicated to being 100% compliant with all US laws and legislation to ensure that the company has secure and stable foundations for the future. They have a billion tokens at the moment, which are trading at under $1 each, so is well worth investing in.

Switcheo

This is a NEO based DEX, which has a very aggressive team behind it, who are trying to push the project as fast and far as possible. Switcheo was the first NEO base to market and it prides itself on promoting a user-friendly experience, which will help them to grow. Switcheo is the first multichain decentralised exchange for NEP-5 token trades built on the NEO platform.

While these are not all of the hidden gems on NEO, they are some of the best that are up and coming. The potential for these new projects is huge, and may give you a huge return on investment.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Adrian Barkley
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