Cardano (ADA) nearing to aim $0.1 USD, As market has another Stellar performance!

Cardano (ADA) was not doing much enough in the last week as its price dropped to $0.06 USD but by the end of week it gained a bit of momentum. The market on Thursaday, 27th September opened with most of the cryptocurrencies advancing towards a high flight. Major coins are having a better week than last one, as they witness a bullish run in last 24 hours.

Cardano started of the day with $0.079 USD, at the time of writing, ADA was trading at a price of $0.080 rising at the rate of 3.64%, having a market cap of $2.097 billion USD. Yesterday, an increase in the volume was seen as compared to last week which went up to $64 million USD. It has a volume of almost $60million USD, at the moment. Binance Exchange, one of the biggest cryptocurrency trading exchange network, ADA had a trade volume of $19.5 million USD in last 24 hours. However, Cardano (ADA) situation on Tuesday was quite different and it was dropping at the rate of 9%, it has been a good turn around for Cardano.

Weiss Ratings suggested that Cardano (ADA) will have the highest pullback along with other altcoins including IOTA, XRP and NEO. Well their prediction was right on the spot as, IOTA has surged up to 1.11%, NEO has also gained about 3% and XRP has been the stand out gaining up to 10% in last 24 hours (at the time of writing). Weiss Ratings tweeted:
“If you believe #crypto market will return to its former glory, the benchmark for a 10X gain, is a 90% retracement. As of today, here are a few of top-25 coins that are at or above a 90% pullback: #IOTA = 90%#NEO = 91%#XRP = 93%#ADA = 96%
These are absolute steals right now!”

According to some experts, Cardano (ADA) can move up to $1 USD, increasing by almost four times from know, but this can take a while. This shows that their is a lot of bullishness regarding ADA. Cardano enthusiasts on twitter are showing their happy as they think this is the time to buy more Cardano coins. This shows that ADA will surge more in next 48 hour time.

Charles Hoskinson, owner of Cardano (ADA) is in Japan to celebrate the one year anniversary of Cardano. In a video message, he stated that they are going launch ‘Infinito Wallet’ i.e a mobile wallet. It now supports users to securely send, receive, and check transaction history of ADA on mobile. Infinito Wallet is the first mobile wallet to support ADA.

Infinito Wallet is the world’s most common home to many big tokens on biggest smart contract platforms including BTC, BCH, LTC, DASH, ETC, ETH, EOS, NEO and DOGE. After adding ADA, Infinito Wallet has achieved yet another incredible milestone. It will boost up the price and increase the adoption of Cardano.

Some more news are to come from Cardano community, as Charles further stated that he will meet some dealers during his stay in Japan, Tokyo. So we can hope some big news from Cardano in next few days and it will really help ADA to surge more. So this is the best time to buy Cardano, as it will bring much more profit in coming days.


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Author: MaxPositives
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EOS Again Ranked #1 Cryptocurrency by Chinese Government

The Chinese government has once again named EOS the world’s top cryptocurrency in a ranking that prioritizes innovation and application over market capitalization. Bitcoin, the world’s largest cryptocurrency by market cap and trading volume, jumped seven spots compared with June.

LIONBIT

Crypto Market Ranking

China’s Center for Information Industry Development (CCID) has published the third edition of its Global Public Chain Technology Evaluation Index, which ranks dozens of cryptocurrencies on technology, application and innovation. EOS topped the list for the second consecutive edition despite concerns over the platform’s botched mainnet launch in June.

EOS’ strong performance likely reflects its scalability solutions. The platform’s proof-of-stake protocol is capable of processing a huge number of transactions when compared with leading blockchains bitcoin and Ethereum.

Like the previous edition, Ethereum was ranked second. NEO was bumped out of the top-three in favor of Komodo, which failed to crack the top-15 in June.

The top-ten are ranked as follows:

  1. EOS
  2. Ethereum
  3. Komodo
  4. Nebulas
  5. NEO
  6. Stellar
  7. Lisk
  8. GXChain
  9. Steem
  10. Bitcoin

The first version of the report, released in May, ranked Ethereum as the world’s top blockchain.

TIP

Bitcoin’s Rise

Although bitcoin did not perform particularly well in the first two CCID reports, it has risen through the rankings following a major structural shift in the cryptocurrency market. As Hacked previously reported, bitcoin’s dominance rate has risen more than 40% over the past three months. Bitcoin now accounts for more than 52% of the entire market capitalization for cryptocurrencies after hitting a high of 54.5% last week.

EOS and Ethereum have seen their market values plummet over the same period. Ether’s dramatic fall, which culminated in last week’s 14-month low, has raised alarm bells over the health of initial coin offerings (ICOs) in the wake of last year’s record funding amounts.

Bitcoin’s growing market share essentially means other digital assets will rise and fall on its whim. Although non-correlation with bitcoin is seen as necessary for a healthy, dynamic cryptocurrency market, recent price developments suggest investors are dropping more speculative bets for an asset with a proven track record. According to Ethereum founder Vitalik Buterin, this will ultimately lead to a new era of ICOs with better protocols and more proven business models. This paradigm, known as “Tokens 2.0,” could materialize as early as next year.



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Author: Sam Bourgi
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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.

LIONBIT

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.


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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.

LIONBIT

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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What is Binance Coin (BNB)? The Utility Token that Helped Binance Become Leading Crypto Exchange

Binance Coin (BNB) is a utility token that can be used on the Binance Exchange. Its main use case is to reduce the trading fees on Binance. In order to find out more about the coin itself, we have to understand how Binance became one of the biggest crypto exchanges in the world in just one year.

Binance – from 0 to over 10 million users in one year

Binance was launched in mid-July 2017 after raising USD 15 million in several minutes during its initial coin offering (ICO). Its founder, Changpeng Zhao, better known as CZ, created Binance with the ambition to provide trading services to every single person on the planet. That goal is supported by superior technology, providing 1.4 million transactions per second, and multi-language support.

The name Binance is a combination between binary and finance and reveals the company’s main focus – to trade digital assets versus digital assets and not deal with fiat. The exchange achieved an incredible growth during its first year of existence and as of July 2018 there are over 10 million registered users on the platform, 143 supported coins and 370 listed trading pairs.

5 key reasons for Binance’s growth

1. The close relationship with NEO

Binance was founded in China but moved its headquarters to Hong Kong after the Chinese government banned cryptocurrency trading in September 2017. However, its Chinese origin has a huge role for the impressive growth of the trading platform.

During the early days of Binance, China’s first cryptocurrency Antshares, also popular as the ‘Chinese Ethereum’, was rebranded to NEO. Back then, Bittrex was the only big exchange that was providing NEO trading pairs, but it wasn’t supporting the distribution of GAS, the token that keeps the operations on the NEO network running.

Basically, when you buy 1 NEO, you are also buying 1 GAS, which is distributed to your wallet over time. However, those who were keeping their NEO on Bittrex weren’t receiving GAS.

On the other hand, Binance started distributing GAS to its users since day one. So, the fast-growing NEO community quickly realized that they won’t miss receiving this ‘free money’ if they just switch to the newly created Chinese exchange. In addition, the technology of Binance seemed reliable and the fees were lower, so one by one, namely the NEO investors were those who started the ball rolling and spread the word about this innovative exchange.

2. Binance Coin use case

The newcomers to Binance were introduced to BNB and its main benefit – to cut trading fees by half. The BNB token had a unique and easy to understand selling point, which attracted a lot of users. BNB is one of the few coins that have real world use case and a clear way to determine where its value comes from.

To put things in perspective, the fee on Bittrex is 0.25%, On Poloniex the taker fee is 0.2%, on Coinbase it is 0.25%, on Bitfinex it is 0.2%, on Huobi it is also 0.2%, while on Binance it is 0.1% and if you pay it with BNB coins, it drops to just 0.05%.

This may sound insignificant but for anyone who is trading regularly it is a huge deal.

However, during the second year, the discount when using BNB for fee payments will be reduced to 25%. It will be lowered further to 12.5% during the third year and to 6.75% a year later. After that, there won’t be any discounts.

3. Relatively higher withdrawal limits for unverified users

The third major reason why people started using Binance was because it has higher withdrawal limits for unverified users. For example, the daily limit for such users on Poloniex is USD 2000, while on Binance is 2 BTC per day. On Coinbase, you have very strict verification process, and you can’t even trade without sharing your identity. On Huobi, unverified users can withdraw just 0.1 BTC per day.

The appealing trading environment on Binance attracted many foreign users on the platform and helped for the global expansion of the exchange.

4. Binance matching engine

Binance is facing the same problems every cryptocurrency exchange has today – high performance of the exchange is not guaranteed and liquidity is uncertain.

Binance hasn’t resolved completely all of these problems yet but it definitely does one thing better than anybody else. The core matching engine of Binance is extremely fast with the capability of handling 1.4 million transactions per second. The response from placing an order to executing it is very quick and that’s why Binance is the highest liquidity provider in the world right now.

5. Binance business model

There are several aspects of the Binance business model that set it apart from the other exchanges out there. The first one is Binance Labs – a blockchain technology incubator.

The projects that Binance support through this initiative first and foremost are those with strong tech team, active GitHub Repo and working prototype. To the selected teams Binance offers full ICO advisory, including a technical architecture review, funding through BNB coins and a token economy structure.

The natural evolution for a project from Binance Labs is to be listed on Binance Launchpad, which is a token sale platform. The goal of the Launchpad is to give exposure to promising blockchain projects.

Binance supports projects aiming to raise maximum $20 million. Once the token sale is finished, they release those funds in batches. If the project achieves a predetermined milestone, it will receive part of the money. This way, if the team run away or don’t deliver its promises, the project won’t get all the money from the token sale.

Another part of the Binance business model that helps BNB to hold and increase its value is that Binance buys back and burns BNB tokens every three months. In accordance with their white paper, the latest burn was in mid-July when 2.5 million BNB tokens were destroyed.

This basically makes Binance Coin a depreciating asset and over time its initial supply of 200 million BNB is meant to become 100 million.

Last but not least, Binance’s referral program helped a lot for the exponential growth of the exchange. If you invite a new user to Binance through a referral link, you will receive 20% of their trading fees forever. If you hold 500 BNB in your account, your commission will be even higher – 40% of the fees.

Binance vs KuCoin and Huobi

The utility tokens of those exchanges
Binance is practically competing with all cryptocurrency exchanges but I will compare it to two of them that have similar utility tokens – KuCoin and Huobi.

KuCoin’s token is called KuCoin Shares (KCS) and just like BNB it can be used as a discount for trading fees, but the model is different. For every 1,000 KCS you hold, you will receive a 1% trading fee discount with the maximum amount capped at 30%.

However, unlike BNB, KCS gives you a share from KuCoin’s trading fees. The Chinese exchange shares 50% of its profits with the KCS holders, so depending how many KCS you have, you will receive different amount of dividends.

Huobi launched its utility token – Huobi Token (HT) – in February 2018. It can be used as a discount for trading fees, too. However, its model is similar to a monthly subscription. You have to become a VIP member and buy a certain amount of tokens in order to receive a discount of between 10% and 50%.

For 10% discount you have to buy 120 HT per month and for 50% — 12,000 HT per month.

New coin listing process
Another use case of HT is to give you voting rights for listing new coins on the Huobi Autonomous Digital Asset Exchange (HADAX). The more HT you have, the more meaningful your vote is.

The listing criteria for new coins on HADAX, which is part of the Huobi Global family, is similar to KuCoin’s but quite different from Binance’s.

KuCoin also has a voting system where the community decides which coins to be listed, but KCS holders doesn’t have any advantage over the other users.

On the other hand, the only way for listing a new coin on Binance is the founders to apply through a web form. And they have only one chance to do it because Binance won’t ask them for additional information.

The company doesn’t share the identities of its review team. The people in it are not allowed to have contact with project leaders, so once you submit your form you are either approved or declined.

Binance has crafted this procedure with the goal of preventing corrupted practices. CZ has stated that he had been offered multiple times millions of dollars to list a coin and he always replied, “No, submit a form”.

Once the review team analyses the submission, they put a score on the project and if the score is positive, the Binance business development team contacts with the project’s leaders for more details.

BNB – 220 times price increase for 6 months

Binance completed its ICO on July 2, 2017 after selling out 100 million BNB within several minutes. The average ICO price of a BNB token was USD 0.11.

As of July 19, 2018, the price of 1 BNB is some USD 13, the circulating supply is 95.5 million BNB and the total supply is 192.4 million BNB, according to CoinMarketCap data.

The all-time high of BNB was reached on January 12, 2018 when 1 BNB traded at USD 24.90, which is around 220 times higher than its ICO price.

Despite the strong decline since then, BNB lost significantly less value in the first half of 2018, compared to the other projects in the top 20 list by market capitalization.

The future belongs to decentralized exchanges

Changpeng Zhao’s vision for the future is that decentralized exchanges will overtake their centralized counterparts. However, he doesn’t know how long this will take. It won’t happen before a blockchain project can provide a reliable network supporting at least hundreds of thousands transactions per second.

Binance already has a team dedicated to the development of a decentralized exchange.

Anyone who believes that cryptocurrencies have bright future ahead and they will become more and more adopted by people should be aware of something — once you own a cryptocurrency, you will need a liquid exchange at some point.

In a world where cryptocurrencies are mass adopted, exchanges of some sort will undeniably be among the most used platforms. So, investing in the one that has definitely a head start over the others but at the same time is in its early stage of development could be a great long-term opportunity.

Binance is one-year old and expects to accumulate a net profit of USD 500 million to USD 1 billion for the whole 2018. However, quite a few people in the mainstream world have heard about this company. In addition, cryptocurrency trading volumes are ridiculously low compared to stocks. Imagine what would happen if cryptocurrencies became mass adopted.

I personally think that Binance is here to stay and BNB and other exchanges’ utility tokens will be among the best performing coins in the next couple of years.

The views and opinions expressed by the contributor in this text should not be considered financial or investment advice, neither treated as an expression of Cryptovest’s view. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information.

 


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: Lyubo Zhechev

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Ethereum’s ‘Killer’ NEO: The Best Altcoin to Watch?

Could the crypto market have its teeth ready to sink into $300 billion? It appears the volatile space is starting to regain traction with a welcome rally. After 2017’s highs broke, it left the crypto market on a bearish trend in 2018. Crypto bulls remain adamant: this game of hot potato is worth all the sweat. Enthusiasts can’t help but look ahead and wonder: which coin will rule the roost?



Mainstream crypto investors would tell you the answer is clear. The globe’s first decentralized digital currency Bitcoin (BTC) remains the giant leading the bandwagon.

Others would make a case for Ethereum (ETH), as it boasts a whopping 547 active blockchain projects and is second in crypto only to Bitcoin. In the race to lead the crypto-verse, we’ve got our eyes on a dark horse dubbed the “Chinese Ethereum” or China’s “Ethereum killer,” Neo (NEO).

Once called Antshares, the altcoin was rebranded as Neo last summer and serves as China’s “first ever” open-source public blockchain. We believe the altcoin is primed to one day breathe down Ethereum’s neck.

Today, Neo ranks #11 among the crypto coins and has jumped roughly 6% in the last week. Though this coin’s price hits $36.36 today, here’s why we think Neo could one day rocket right past Ethereum. This decentralized app platform was created to score the backing of the Chinese government. Look no further than other Chinese giants from Alibaba (BABA) to Baidu (BIDU). Neo treads in the footsteps of success stories like these who were savvy to operate under China’s regulations.

Ethereum transformed the blockchain universe with its introduction of smart contracts. Neo also utilizes Turing-complete smart contracts and is designed as a platform for a smart economy. Here’s the challenge with Ethereum: the crypto universe’s second leading blockchain relies on a proof-of-work algorithm that struggles to handle big transaction volumes. In other words, the Ethereum network gets clogged, and it leaves crypto users unsatisfied. Ethereum co-creator Vitalik Buterin has vowed to improve Ethereum’s scalability with new technology, an in-house solution called sharding.

Neo does not use Ethereum’s proof-of-work consensus mechanism with all its congestion challenges. Instead, the blockchain relies on a simpler consensus algorithm known as Delegated Byzantine Fault Tolerance (dBFT). This means improved scaling and performance; a double win.

Although the dBFT consensus mechanism comes with its own doubled edged sword: centralization. The plus for Team Neo is worth it: the team believes the platform’s scalability can manage a monster 1,000 transactions per second. To address the centralized system, Neo has created City of Zeon as a play for further decentralization, a worldwide independent group of open source developers, designers, and translators. City of Zeon was intended to bolster the NEO core and ecosystem.

Let’s talk about the regulation factor. China is notorious for clamping down on crypto trading, with regulatory authorities strictly regulating Bitcoin. Some attribute regulation apprehensions to one of the downfalls of the crypto market. China’s central bank just indicated Bitcoin trading in Chinese fiat has plunged to under 1% of the globe’s total, according to Xinhua.net’s latest report. Compared to a high soaring past 90%, the stark impact of China’s heavy crypto regulation is clear.

This is precisely why Neo could be the dark horse of the market. Neo’s Onchain technology has an advantageous priority: to be compliant with Chinese regulations. Onchain centres on creating private and consortium chains to fulfil the industry’s definitive needs. A regulatory-friendly coin not blocked by a colossal Chinese market could see a massive rise in ranking.

Neo could attract developers to its platform, which supports two crypto coins: NEO and GAS. With smart contracts running in all the mainstream coding languages (C#, Java, Go, Python, Kotlin), the blockchain could draw a big pool of developers here. Any programmer in the globe could write apps to smart contracts using Neo’s platform, much easier than the platforms that set a new language hurdle.

Bottom line: Neo – deploying digital identities to cultivate a smart economy – may be the 11th biggest coin in the crypto game today, but it has what it takes to one day bring the hammer down on Ethereum.


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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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.


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Author: Adrian Barkley
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$42 Million In Crypto Is Now Being Airdropped to NEO Investors

Beginning this weekend, those who held tokens on the Neo blockchain, the 11th largest in the world, began to receive 10 million ONT tokens (worth $42,100,000 at press time) designed to power an entirely new crypto technology platform called Ontology. Recipients must have held Neo on March 1.



Select Neo users are now receiving free crypto money.

Part of the “ONT token distribution,” the move effectively rewards all users of the Neo blockchain for providing the technology necessary for the project’s fundraising.

If that sounds confusing, the move has been in the works for some time.

In February, the Neo Council, a body set up to oversee the Neo blockchain protocol, announcedthat it would freely distribute 20 million ONT tokens – the main assets on the Ontology blockchain network – to eligible NEO token holders through a two-stage “airdrop.” Ontology’s creators granted100 million ONT, or 10 percent of the maximum supply, to the Neo Council “for relevant cooperation and to support NEO community feedback,” the Ontology team wrote in March.

As well as the deadline for completing the Neo Council airdrop, Monday marks the beginning of Ontology’s token migration, in which holders of Neo-based ONT must move their tokens over to Ontology’s “mainnet” – its own, freestanding blockchain.

Ontology is one of several projects to embark on token migrations – also known as token swaps – in recent months. Some of the most prominent include EOS and Tron, both of which moved from ERC-20 tokens to native tokens on their own dedicated blockchains. (Ontology, as noted above, is moving from an NEP-5 token to its own blockchain.)

For users of certain exchanges, this process will be automatic, but others will need to manually complete the transfer. The Ontology team has posted an explainer, but the process will be more complicated for some users than others. Ledger wallet users will need to transfer their NEP-5 tokens to another wallet, for example.

Adding a layer of complexity, ONT tokens on Ontology’s mainnet are indivisible. In other words, users cannot migrate 1.2 NEP-5 tokens to mainnet – they have to top up to 2 ONT, sell down to 1 ONT, or accept that 0.2 ONT will simply disappear.

Fortunately, ONT investors have until October 1 to complete the migration.

More details

Stepping back, Ontology, which launched at the end of June, and Neo are public blockchain protocols with teams primarily based out of China. Both emerged from Onchain, a Shanghai-based technology firm.

While separate entities, Neo and Ontology are closely aligned and engage in “technical cooperation,” according to Ontology founder Li Jun.

The Neo Council’s ONT token distribution was divided into two equal halves. Anyone who held NEO at a certain point on March 1 is entitled to receive 0.2 ONT per NEO. The first half (0.1 ONT per NEO) was distributed to Neo addresses as an NEP-5 token – a Neo-based token standard similar to ethereum’s ERC-20.

The second half of the airdrop began over the weekend, except that this time, ONT tokens were distributed as native tokens on the newly launched Ontology blockchain, rather than as NEP-5 tokens. As the Ontology team explained in an announcement, recipients’ Ontology addresses, WIFs (wallet import formats), and private keys will be identical to their counterparts on Neo.

Social media posts indicate that at least some users have successfully received their ONT at the time of writing. The Ontology team’s announcement gave Monday, July 9 as a deadline for completing the airdrop.

The Ontology community has another airdrop of ONT to look forward to, according to Jun, but details have yet to be revealed.

The Ontology team previously gave away 1000 ONT to people who signed up for its newsletter and completed a know-your-customer (KYC) check; it also gave 500 ONT to attendees of a Neo developers’ conference who gave their email.


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: David Floyd
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NEO and Tron Tease Mysterious New Projects

NEO and Tron are going head-to-head for the right to be recognized as a top 10 cryptocurrency. The two coins are regularly trading places on CoinMarketCap as of late, with NEO on top at time of publishing.



Both platforms are working to offer faster alternatives to Ethereum and attract developers interested in creating the next wave of decentralized applications. NEO has at least 60 DApps in development, including AdEx, THEKEY and Red Pulse. Tron is just getting started after launching its mainnet, with at least 9 DApps in the works, along with an incentive program to attract new developers.

Each platform is also engaging in the art of the tease, releasing cryptic early announcements on what they plan to accomplish moving forward.
In Tron’s mainnet launch live stream, founder Justin Sun talked about the upcoming release of the Tron Virtual Machine scheduled on July 31, and noted that right before its release Tron “will also launch one of our secret projects.” Here’s a look at his full remarks, courtesy of YouTube creator Game of Bitcoins.

Not to be outdone, the team at NEO is dropping its own tease on what’s in store for the future.

NEO’s official Twitter account revealed the team is working on “NEO 3.0.”

What exactly will be included in NEO 3.0 is anyone’s guess, but the tweet may hint that the team will release a new version of NEO’s whitepaper sooner than expected.
The whitepaper update has been mentioned on the platform’s GitHub in the past.
Both Tron and NEO’s pre-announcement announcements triggered speculation on Reddit.
Tron’s community questions whether the secret announcement is connected to Sun’s recent acquisition of BitTorrent, and NEO hodlers are pondering the potential for a full reveal of infrastructure such as neo-sharp, a new node implementation.



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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NEO Technical Analysis: Bulls Resting For Now, Another Run Expected Soon

NEO enjoyed a brief bullish pump at the start of this week as support gathered behind the new ‘Era of Decentralization’ release- but it wasn’t to last. Over the last 24 hours the ‘Chinese Ethereum’ has failed to hold on to this new ground and has already corrected -10.99% back to a key fibonacci support.



NEO’s monopoly of its network nodes has attracted a lot of criticism lately and is the likely cause of this recent decline. The newly-elected independent node, the City of Zion organization, is a group of NEO developers that have been operating a candidate node since early January 2018. There have also been discussions going forward that new independent nodes will need to be approved by existing nodes, thus removing the decentralized nature of this supposed ‘decentralized era’.

NEO Chief Executive Officer Da Hongfei maintains that this selection process is necessary to ensure that the appropriate nodes are selected for the fast-growing network.

Looking at the NEO/BTC chart over 3hr candles we can see that the asset struggled to test the 0.618 fib level at 0.0067BTC and has subsequently fell to the lower 0.5 fib support.

Despite the falling price action, we can see promising signals that bulls are about to make a strong turnaround, as the 50 EMA rises defiantly against the downtrend and is heading for a golden crossover convergence with the 200 EMA imminently.

In these situations when a moving average or momentum indicator contradicts the price action trend, it is usually a good confirmation that the asset is about to reverse.

Looking at the RSI now we can see that NEO has returned into the centre of the index channel after falling from the overbought region in the previous pump. This central position in the channel means that NEO has sufficient space to climb during the next bull run, which should happen relatively soon once enough investors gather to take on the bears.

The Ichimoku indicator is also foreshadowing a bullish continuation with a rising support Kumo stretching out in front of the price action, along with a bullish, albeit weak, T/K crossing.

NEO Price Targets

All price targets for this asset are set from the 0.786 Fibonacci support/ 0.005835BTC, where NEO currently sits.

Price Target 1: We expect the price action to reach the 0.5 fib level at 0.0073BTC when the bulls break back off the lower support. This will deliver a 26.31% return from the 0.786 fib level.

Price Target 2: The asset is likely to correct from this fib level and find new support along the 0.618 fib level below (yellow) which should act as a foothold for the next bull run. Once bulls are have rested they should begin to move again, this time towards the 0.382 fib level above at 0.008BTC. This will deliver an overall ROI of 37.16%.

Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information.


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 Ollie Leech
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