I remember when Antshares was one of my first investments in Crypto and I could see its potential back then. It’s launch of rebranding to Neo wasn’t just a new name but a beginning of something with a lot of potential and a timeline of development. Buying into it back then cost between $4 and $7 and was where I made my first $1,500 in crypto when it jumped with the NEO platform launch. Since then it has managed to deal with the Chinese control on Crypto with legislation and banning of ICO’s in China. Although temporary it was bad timing for NEO along with Binance exchange that have still managed to come out the other end in a positive way. Binance as an exchange is growing in strength daily and NEO is now no longer a sleeping dragon focused primarily in China. While the chaos and FUD was flying around relating to the end of Crypto in China NEO has been busy developing its platform and DApps along with its public relations machine starting to evolve.
The team size has significantly grown and one thing I will say about NEO is it hasn’t failed on delivery of any of its products that it has promised. If anything we are seeing a lot more rolled out without too much media coverage (which gets me back to the PR being something NEO could start to focus more on). What we have seen throughout December of last year is the evolution of NEO from concept into reality and a lot of products being delivered including the first ICO launches on the NEO network. I do recommend following the NEO blog on their website for their monthly updates as an investor you can see some jumps coming in value ahead along with seeing how pro-active the NEO team is working along with over 50 developers in the City of Zion pushing new projects.
So why will NEO go over $300?
- While the networks are congested with Bitcoin and Ethereum feeling the pain of volume growth of ICO’s and smart contracts NEO is still just coming out as being ready. As such gives another avenue for ICO’s and smart contracts to be utilised on another network.
- China is restrictive on Crypto right now as it builds legislation but this will never be long-term as simply China is always open to do business. As such it is more likely to see government controlled ICO specifications and other restrictive methods. But the gamble will be if China controls it on their own platforms or look to NEO to work with it. Giving an entire new market waiting to launch that could potentially be supported by China.
- DApps keep rolling out on a regular basis which means not only new products are being developed but also the demand for NEO is growing with the user base.
- NEO hasn’t touched the West and as such as the public relations expand the opportunities will expand with it.
- NEO is only just beginning to start “working” and coming out of testing. Many in the Crypto space simply aren’t working ventures and some are still ideas. NEO is a working platform and capable of delivery and like a new car launch once it starts to get public interest it starts to grow.
NEOX is NEO’s version of atomic swaps allowing you to exchange tokens without an “exchange”. Which also means not only can you swap currencies but you can transact across multiple blockchains and allows smart contracts to interact.
- Nex is an ICO being developed by City of Zion that offers a platform for the creation of payment solutions and decentralized exchanges on NEO. It links to NEO with NEOX.
- Speed of NEO network in theory it can do 10,000 transactions per second (compared to 30 for ETH) but in reality its more like 10,000 and 15 for ETH.
- NEO can’t fork as its operates on finality which requires more than 66% agreement. Which basically means we don’t get the regular breakouts of forking like Bitcoin has in the last few months. But instead you would need 66% agreement for this to happen. Which is important for the business financial sector outside of Crypto.
- NEO uses GAS to move things on the network as such NEO is a share and allows voting of “bookkeepers” and as long as you hold NEO in a wallet like Neon you receive GAS and the incentive for keeping transaction fees low is created by the “Bookkeepers” due to the voting ability of NEO holders. Which keeps NEO flowing.
- NEO supports 5 programming languages and looking to add another 5 in the future.
- NEO operates under Smart Economy that has alignments with “real world” and developed around supporting government and business legislation and controls.
These are just a few of the reasons I support NEO and can see it developing there is a major DEVCON in San Fransciso coming up as well.