NEO Coin: Everything we need to know; How to buy NEO Coin? NEO Coin price; NEO blockchain

NEO Coin: Everything you need to know; How to buy NEO Coin? NEO Coin price; NEO blockchain 17216

NEO is one of the tip coins that run on the Ethereum blockchain, directed at resolution a lot of things that are wrong with Bitcoin. Buterin first expelled Ethereum’s whitepaper in 2013 and the crowdsale was launched in Jul 2015 which lifted more than $18million USD. Around the same time, a Chinese chronicle of Ethereum famous as Antshares was launched by OnChain, a non-profit Blockchain plan in Shanghai. 

In Jun 2017, the plan was rebranded and is now famous as NEO. The NEO height supports smart-contracts and is very popularly famous as the “Chinese Ethereum” due to the identical functionality offering by both the platforms. While NEO silver does share a lot of facilities with Ethereum, like support for ICOs and dApps, a vital advantage of the height is the harmony with languages like C/C#, Java, and GO. Ethereum, on the other hand, only supports the possess Solidity language. 

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NEO silver is now the 12th largest cryptocurrency as per CoinMarketCap and rose to a large 500,000% in 2017. But with that being said, cryptocurrency prices are notoriously renouned for their sensitivity and the value of NEO tokens have extremely depressed in the last 6 months. 

At the stream price, is NEO silver a good investment? Knowing more about the history, underlying technology, and the group behind the plan might assistance you decide. 

History of NEO Coin

As per the official website, NEO is a non-profit blockchain-based plan which uses the blockchain record along with digital temperament for digitizing assets, automating digital item supervision with the assistance of smart contracts, and realizing “smart economy” through a distributed network. 

OnChain, the association behind NEO silver was founded by Da Hongfei (CEO) and Erik Zhang (CTO). The plan began around 2014 as AntShares and was rebranded to NEO in 2017. A two-part crowdsale was orderly in 2015 to account the project. 17.5 million AntShares tokens were sole in the first crowdsale and the remaining 22.5 million tokens were sole in the second part. 

NEO Coin: Everything you need to know; How to buy NEO Coin? NEO Coin price; NEO blockchain-BCFocus

NEO cost graph from the very beginning

 

What is NEO coin?

In elementary words, NEO is a blockchain height which can be used for formulating intelligent contracts and digital resources just like Ethereum. Unlike most other projects which engage a singular cryptocurrency powering the whole project, NEO has two local tokens- NEO and GAS. Both the tokens play different roles on the NEO blockchain platform. 

The NEO tokens are used for representing tenure on the NEO blockchain. Creation of blocks and network supervision is finished with the assistance of NEO tokens. On the other hand, GAS tokens capacitate users to use the blockchain. Just like Ether which is the fuel for Ethereum network, GAS too is a fuel which powers the sell of NEO network. As a matter of fact, users can acquire GAS by just holding NEO coins in their wallets. 

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The categorical idea of the plan is to be a distributed, decentralized, and digital height for resources that are non-digital in inlet with the assistance of intelligent contracts. For instance, it can be used for formulating a intelligent agreement to compensate monthly rent. Rather than using a bank for the payment, the agreement can be combined in a way that it triggers once every month. 

How Are NEO Smart Contracts Different from Ethereum Smart Contracts?

If you are new to cryptocurrency and “smart contract” seems like an visitor term, bargain the basis would assistance you know NEO’s Smart Contracts 2.0. 

To keep it simple, intelligent contracts are zero more than digital versions of tangible contracts. These digital contracts use the blockchain record and are executed when the pre-defined conditions are met. For instance, a intelligent agreement can be combined between a seller and customer which would trigger smoothness of a product once the customer pays for it. If at all, the seller does not broach the product, the volume can be refunded to the buyer. 

The B2B implications of intelligent contracts are outrageous and make cryptocurrencies much more than just a store of value or a digital currency. 

While the intelligent agreement is one of the most critical reasons for Ethereum’s popularity, NEO cryptocurrency has the intensity to kick the second largest cryptocurrency with the upgraded chronicle of intelligent contracts. Dubbed as Smart Contracts 2.0, it provides an easier height for the programmers which consumes obtuse volume of resources and boots up quicker. 

While Ethereum blockchain can only be used with the local Solidity denunciation which a lot of programmers do not know, NEO silver can be used with C/C#, Java and Go which are very ordinarily used. The platforms harmony with mixed languages creates it easier for the programmers to muster contracts and rise digital resources on it. While it was Ethereum that introduced Smart Contracts to the world, NEO has significantly softened it. 

NEO Coin: Everything you need to know; How to buy NEO Coin? NEO Coin price; NEO blockchain-BCFocus

NEO silver vs. Other Cryptocurrencies

NEO is not only different from Ethereum and Bitcoin but several other cryptocurrencies too. Some of the notable differences are-

NEO is indivisible: A NEO token can't be divided into smaller units like other currencies. For instance, you can't buy 0.5 NEO but you can buy 0.5ETH or 0.5BTC. The NEO tokens are indivisible as rather than being a cryptocurrency, the group behind the plan considers these tokens as shares of a company. 

This became a problem when the value of NEO crossed $160. But the crypto exchanges were discerning to find a solution. While this is not a foolproof solution, it does let you buy smaller fractions of NEO from exchanges. However, the locate is that only whole NEO tokens can be sent from an sell to a NEO wallet. For instance, if you are shopping 1.2 NEO, you can send 1 NEO and the remaining 0.2 NEO will sojourn in the wallet of your exchange. 

GAS generation: Another vital disproportion is the two local tokens of the NEO ecosystem. While the NEO token gives you tenure on the NEO blockchain, GAS is the fuel powering NEO transactions. While there are a few exchanges where people can buy GAS token, most of the users simply buy NEO and store it in their NEO wallet to acquire GAS for free. 

However, it doesn’t really make clarity to reason just a few NEO tokens in your wallet if you want to acquire GAS. As per NeoToGas.com, a renouned NEO GAS prerogative calculator, 100 NEO tokens would only pierce in about 10 GAS tokens in a year. While the prerogative is low, it is really one of the most critical things that compute NEO from many other currencies. 

NEO network governing: The NEO blockchain has two forms of nodes- accord nodes and typical nodes. Also famous as bookkeepers, the accord nodes say the bill and yield accounting services. The typical nodes are obliged for the NEO transactions. Unlike most other currencies which use PoS (Proof-of-Stake) or PoW (Proof-of-Work) mechanism, NEO uses dBFT (Byzantine Fault Tolerance) algorithm. 

With the NEO blockchain, the nodes do not contest for formulating blocks as there is no prerogative for retard creation. The accord nodes are single-handedly obliged for validating sell and these nodes are voted in by NEO holders. However, now there are 7 active NEO accord nodes and the NEO group controls them. So, it is not wrong to trust that the NEO network is banking centralized. 

Team behind NEO coin

As discussed above, OnChain grown the NEO network. The group is led by Da Hongfei (CEO), Erik Zhang (CTO), Tony Tao (Founding Partner), and Weiyu Zhu (Managing Partner). 

As per a Reddit discussion, there were only two developers who worked on the NEO formula initially. However, when the NEO group updated their website, they listed 1 front-end developer, 1 engineer, and 4 developers. Currently, the official NEO website suggests that they have a village of contributors, operators, and developers. 

NEO Price Fluctuations

While NEO started 2017 around $0.14, it reached almost $200 in Jan this year and is now trade around $29 which means a tumble of more than 80% in just 6 months. As per CoinMarketCap, it has a market cap of $1.937 billion and 24-hour trade volume of $54.92 million. While NEO delivered unimaginable earnings in 2017, as distant as the cost of NEO is concerned, 2018 doesn’t look that extraordinary so far. 

NEO Coin: Everything you need to know; How to buy NEO Coin? NEO Coin price; NEO blockchain-BCFocus

However, the pointy tumble is not really because of NEO. The whole crypto marketplace has rather crashed and the largest cryptocurrency, Bitcoin, which reached $19k in Dec last year is now trade at $6,092, a tumble of more than 66%. 

As a matter of fact, things are going good for NEO. Last year, OnChain partnered with e-King Technologies, Fosun Group and even Guizhou supervision on many different blockchain-based projects. A few ICOs have already been launched on the NEO height and many others are slated for redeem this year. Bookmark this NeoNetwork webpage to keep yourself updated about the latest ICOs on NEO. 

If things continue to pierce brazen in a identical manner, NEO is approaching to be one of the tip gainers when the marketplace starts to recover. 

Should You Buy NEO coin?

Most crypto experts determine that at $29, NEO is a steal. The plan has survived the formidable regulatory sourroundings of China and even after the government’s crackdown on the cryptocurrencies; NEO has not just thrived but has turn one of the tip digital currencies. 

The founders have time and again mentioned that they are delicately following the supervision regulations to safeguard that they are prepared for the future. If there is one Chinese crypto plan which has the intensity to make it big in future, it really has to be NEO. 

If you are looking for a long-term investment, buy NEO cryptocurrency and just reason on to it. You can even interest your NEO tokens to acquire GAS for free. While the prerogative is minimal, it really is better than nothing. 

How to Buy NEO coin?

As NEO is one of the tip cryptocurrencies, you can buy it from a number of tip crypto exchanges. Some of the most renouned options are Binance, OKEx, KuCoin, Bitfinex, CoinEgg, BitForex, Exrates, CoinSuper, and Huobi. Moreover, some of the exchanges also concede you to interest your NEO silver right from the sell wallet to acquire GAS. 

However, it is rarely endorsed that you send your NEO coins after shopping to your NEO wallet. You can find the central NEO wallets on the NEO website. There are desktop wallets, web wallets and mobile wallets available. 

The answer is out there, NEO

NEO is an upgraded chronicle of Ethereum in many aspects and has grown over imagination in 2017. It is corroborated by a plain group which is pretty pure about their operations. Many new ICOs have started adopting the NEO height and the group is constantly operative on new partnerships. 

If you are looking for a arguable blockchain plan with good potential, you should really cruise NEO. While the Chinese authorities and their opinion on cryptocurrencies is one of the biggest risk factors for NEO, the group has been means to tarry compartment now and will probably continue doing so in destiny too. 

Invest wisely and only invest an volume that you can means to lose. Once you’ve purchased NEO coin, just lay parsimonious and do not panic as the marketplace runs the course.

Image around Shutterstock and Coinmarketcap

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Article source: https://bcfocus.com/cryptocurrency-analysis/neo-coin-everything-you-need-to-know-how-to-buy-neo-coin-neo-coin-price-neo-blockchain/17202/