NEO Price analysis, time to battle the bear | iCE3X
We refer to Neo as the “Ethereum killer” or “Chinese Ethereum”. It’s time to see a real Neo price analysis and understand its place in the Crypto-World.
Neo (previously Antshares), is an all-included smart contract provider. It is well designed for Initial Coin Offerings (ICO) and Decentralised Apps (dApps), focusing on Smart Economy solutions which are real assets that can be digitized and traded with confidence using specific trading rules. This makes it easy to know who you are trading with using Digital Identity.
Having had something of a sudden rise based on a successful marketing drive.
NEO started at around R2.61 in November 2016, rising to about 30% since and in June 2018 trading at R662.89. At the begging of the year, it was trading around R2242.28.
Here is an image of NEO trading on iCE3X for the last few months:
What is NEO and how does it work?
The NEO network is different from Ethereum for the reason that it consists of two tokens namely NEO and GAS. NEO being used for voting rights and ownership proof on the blockchain, whereas GAS is the fuel that drives the smart contracts.
The NEO system includes the following:
- Consensus protocol called the dBFT or Delegated Byzantine fault tolerance algorithm. It uses the consensus mechanism which allows the system to resist the Byzantine generals problem. This also helps to maintain consensus even if some nodes bare hateful intentions.
- NeoX – Creating a system with the ability to deal with, and operate on different block-chains.
- NEO Contract – Device to create smart contracts that are able to expand in high-performance environments that with pre-existing codebases.
- NeoFS – Service allowing decentralized storage like peer-to-peer Dropbox.
- NeoQ – Supports post-quantum mechanisms based on Lattice-based cryptography. It is quantum-proof. This means that its mathematical problems are so complex that even future technology would not be able to crack it.
Therefore, you can see that Neo uses exceptional smart contract coding and completion systems. This is a process in the organizing phase. Which means that for various forms of smart contracts, Ethereum is faster.
Why Neo is using smart economy?
It uses a smart economy because it is a faster transfer of assets. These assets will have proof of ownership in the blockchain. You can buy, sell, trade, and create leverage on these assets through smart contracts. Ownership can be guaranteed and confirmed through the decentralized model of the blockchain. This innovative smart contract system supports common programming languages familiar to most of the developers. Therefore, they would not have to learn a new language in order to use it.
Why Neo is compared to Ethereum?
Ethereum is the predecessor of NEO, both systems offer similar infinite smart contracts. However, Neo’s smart contracts are a lot easier to create and use. The innovative smart contract system of Neo supports common programming languages for most developers. While Ethereum requires a programming language called Solidity. Generally speaking, any company can use Neo’s smart contract easily, while Ethereum needs developers that know the programming language Solidity. The Neo price does not really compete with Ethereum yet.
Neo Price Analysis
Referring to Neo as the “Ethereum killer” and the intense positive publicity it has received, it has regrettably not been unaffected by the 2018 bearish market.
As seen below the rise in September 2017 and up and down market trend until hitting a high again in January 2018.
Since then the price has been up and down in this bearish market.
Buying, Exchanging and trading Neo
At iCE3X buying or selling NEO is very easy. You can trade markets all the time 24/7 365 days of the year. iCE3X is a trusted cryptocurrency exchange SINCE 2013. Simply select the NEO/BTC trading pair and place your BUY and SELL orders. This is also where you can locate the Neo price on a daily basis.
When should you buy Neo?
Many long-term traders will suggest that we are in the dip and therefore it is a good time to buy. Visit iCE3X to find out the 5 reasons why you should Buy Neo.
We conclude that to say Neo is the “Ethereum Killer” is achievement NEO has yet to accomplish. However, it has a lot of space for growth. Its innovative smart contract system language makes it easy to create and use. Neo and Ethereum are a lot alike but are also different in many aspects.
What does your gut say about Neo? Leave us a reply below.