Why You Should HODL NEO Cryptocurrency

by | Apr 16, 2018 | Cryptocurrency, Cryptocurrency News

NEO | NEO Cryptocurrency | NEO ICO | NEO Token | HODL onto NEO | Chinese Ethereum

NEO is a blockchain platform commonly referred to as the Chinese Ethereum. As the first open source blockchain from the mainland, NEO has captured the attention of investors from both West and East. Excited investors have flocked to buy NEO cryptocurrency tokens after rebranding from ANS in June 2017. NEO has rallied 2000% to a high price of $52 per token since June.

NEO cryptocurrency which is also the ninth-best currency according to the global coin ranking list, has been surprisingly taking a fall since the last 2 days. This is not an abnormal since most cryptocurrencies have been taking a little downfall here and there. NEO has seen some downfalls during the market crash that latest for weeks and now we can see it again dropping for almost -6% against the dollar.

Moreover, with the plans that NEO has laid ahead for the upcoming months of the year, one may expect HODL on NEO cryptocurrency.

NEO and Upbit

Upbit is not only the biggest exchange platform in South Korea, but also amongst the top ones globally. NEO is directly related to this exchange, is a big incentive for this coin especially with the news that Upbit will start distributing GAS, which is NEO’s token, to the HODLers with NEO units.

The distribution should occur every Friday once Upbit starts with distributing GAS and should go on with a specially determined equation to fit the needs of distribution through this platform.

NEO cryptocurrency which has been on a brief bumpy ride since the last two months, the determination of investors that NEO is a currency to HODL onto is fading over time.

Upbit could potentially push the value of NEO cryptocurrency once GAS tokens are  started with distribution on this exchange, also assuring investors that NEO is, despite minor issues in the market, a solid coin to HODL onto.

NEO and ICOs

NEO, accepts ICOs, which means that coins and tokens of different sources and coming from different teams can be hosted on NEO’s platform and on top of its chain.

NEO conducted its token sale in 2 phases: the first on October 2015 and the second on August 8th, 2016. The total amount raised in both phases was 8,220 BTC. This token sale raised 2,100 BTC in phase 1 totaling $ 1.05 million and 6,120 BTC was in phase 2 totaling $4 million.

  • A total supply of 100 million ANS is available
  • 40 million ANS distribution for the ICO token sale
    • 17.5 million in phase 1
    • 22.5 million in phase 2
  • 10 million token reservation for early contributors and development team
  • The remaining 50 million ANS  escrowed via a smart contract for a year exclusively for bounty programs and strategic investments. Also, only a maximum of 15 million is withdrawable for distribution per year.

While NEO cryptocurrency is already a home of Asura coin that is said to be having its own airdrop in May 2018, since Asura is related to sport betting with NEO having a perfect voting protocol that would allow Asura to perform an airdrop that is expected in May, it is also expected that NEO will benefit from this occasion as well.

NEO platform has also accepted is NEX, which is expected to modify and improve interaction by using template codes. NEX should have its token sale as announced on April 28th and will be available for usage on NEO platform.

These two currencies accepted on NEO cryptocurrency network will most probably push the value of this NEO cryptocurrency during the planned airdrop and the mentioned token sale of NEX altcoins.

NeoCompiler Eco v1.0

NeoCompiler’s development started back in 2017 when the development of this protocol that is more than crucial for the improved functioning of NEO smart contracts. You can use smart contracts for creating decentralized applications on NEO network like you do in case of Ethereum.

Users can contribute to the community and create decentralized apps with NEO smart contracts even twhen the developers working on these Dapps come from different backgrounds in addition to using different programming languages.

Another advantage attached to using the NeoCompiler is that as a developer you don’t need to work only with a language chosen by a platform you are working on (like it is the case that some platforms with smart contracts allow solely the use of JavaScript). With this protocol, all developers are using the same environment, but are allowed to work on smart contracts in two different programming languages. All developers participating in the project will be able to use Python or C#. Which will be smooth, since most people are acquainted with Python and C#

NEO and the Market

NEO cryptocurrency price till 14th April was stable, but started going towards 70$ per one unit. The currency has dropped by -5.98% against the dollar, which means that you can buy NEO for 62.65$ per one unit.

Given the fact that NEO is working on general technical improvements as well as accepting new coin offerings that could potentially benefit NEO cryptocurrency, crypto investors must take serious note of this article and consider putting their shares in NEO cryptocurrency.

Also Read : Best NEO Wallets 

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