What is The Future Of NEO Coins?
NEO coins, also known as Chinese Ethereum, and for good reasons, has proven its potential by making its entry into the Top 10 Cryptocurrency club.
NEO is not just a digital asset but way more than that, just like Ethereum it acts as a platform for other new entrants and helps them create a decentralized application and smart contracts, two big things in the Blockchain Technology.
The future of NEO or any other cryptocurrencies is not easy to predict, given the highly volatile nature of the crypto trade market. But, we can for sure make some assumptions based on its previous track record and market trends, let us see whether the Future of NEO coins will be bullish or bearish.
You May Also Read: How to Buy NEO coins with your Credit card?
NEO: More Than Just a Digital Token
There are more than 4000 cryptocurrencies listed on the trade market, amounting to $400 Billion in market capitalization. Out of these thousands of cryptocurrencies, the Top 10 cryptocurrencies make up to 70% of the total capitalization. The crypto market is so volatile that, Bitcoin lost 81% of its market share last year, while Ethereum was the biggest loser with over 91% drop.
The figures are indicative of two things,
- The market is heavily dominated by the top 10 cryptocurrencies.
- The volatile nature of digital currencies can plunge the market behavior in a matter of hours.
Now, coming to NEO, it is not just a digital asset for financial transactions, but a complete ecosystem focused on providing a platform for token creation and also help firms through their smart contract. Thus, the name Chinese Ethereum.
NEO was created in 2014 as the AntShare, however, it changed to NEO in July 2017, the complete ecosystem for providing Blockchain based products gives it a push in terms of prices too. There are few other aspects which make the NEO coin different from its peers.
- NEO works on the two coin basis, NEO & GAS. On one hand, you have NEO which is a singular entity, and cannot be divided i.e you can only use NEO as a whole and not like 0.002 NEO coins.
- GAS can be seen as a bonus for holding your NEO coins in the hard cold wallet, and the GAS incentive is directly proportional to time. Longer you hold NEO in your wallet, the more GAS you earn. GAS can be used by the NEO community to pay for transaction fee on the network. It is divisible too, so you can pay 0.5 or 0.005 GAS tokens.
What Makes NEO a Good Investment option?
Cryptocurrencies are yet to be recognized as a legal tender of financial exchange in the majority of the world. Most of these digital assets are categorized as Security apart from Bitcoin and Ethereum.
There has been significant growth in acceptance level in the last year, but still many believe more centralized authorities need to understand the importance of decentralization.
Among the hubs for cryptocurrencies, China is emerg ...Read full story on BTC Wires