In late June 2017, Antshares declared that they were rebranding. and less than a month later, NEO was born and turned into China’s most popular cypto overnight. The rebranding totally redesigned Antshares’ social media, technical data, website, and blockchain nodes.
Bitcoin vs other cryptocurrencies:
Then after a couple months later, Antshares – now named NEO – outperformed Litecoin, Bitcoin Cash, and Ripple, growing over 3,053% every month. As of August 19 – NEO went back to the ninth place on the digital currency charts, losing 90% of its expansion. However, the NEO devotees trust this is just the start for what is termed as “Chinese Ethereum,” some are stating that by the end of September, NEO will become number one on the crypto charts.
At the time of writing, Neo was trading at $42.92 per coin.
Proof Of Work:
NEO showcases more POW (Proof-Of-Work) than any other crypto out there. The effortlessness, the 15-second exchange time and the simple to utilize Smart Contract has aided NEO to detonate in China. There are more than 50 renowned organizations that are intending to embrace NEO’s innovation in China. Compared to Ethereum, NEO has accomplished more in terms of a “Quick Witted Economy.”
While NEO is principally cruising in China cryptocurrency, the friendly developer software can make it immense in the west too. Ethereum – while having an elegantly composed code – doesn’t have as much POW as NEO.
Read more: Why Bitcoin Rose More than $1000 in the Last Two Months
What Is Neo Transaction Time?
NEO can deal with numerous transactions through its Smart Contracts. It’s 15 seconds quicker than Bitcoin and 5 seconds speedier than Litecoin. While NEO doesn’t have the standard reputation like Bitcoin or Litecoin, NEO’s reputation in China Bitcoin keeps on developing. It’s being known as the “Smart Startup Trent,” in China, since, the local startups are embracing NEO at a snappy rate.
Additionally, it has front end uses like Digital wallets, voting, forums, and profile management. The organizer of NEO – Da Hong Fei – calls it the ultimate “developer coin.”
NEO Coin In Next 10 Years:
Up until now, Da Hong Fei has unveiled different plans for what’s to come. Da Hong Fei is anticipating on implementing the Catalyst Award Framework to reward miners for mining NEO. Likewise, he plans on creating an environment that will be crowd funding friendly within the NEO community. Investing in NEO, however, has its own risks, similar to any other cryptocurrency out there isn’t any organization managing it to guarantee you a safe investment.
Make sure you have done your research before putting your resources into the currency.
Read more: Monero Security – 3 Main Techniques Behind Monero Anonymity Explained