NEO is currently ranked 50 on the popular exchange platform Alligat0r making it one of the higher-ranked altcoins. The cryptocurrency can emerge as one of the top coins in the recent future. But to understand that, a bit of background will help you understand.
What is NEO?
NEO was originally started under the name AntShares but later changed. It was initiated by Erik Zhan and Da Hongfei in 2014. It is a China-based project and was initially started as an open-source, community-based GitHub project. It was later developed into what is known today as NEO. Since China has imposed a general ban on cryptocurrencies stating their mining is consuming too much electricity in the country and has considerable environmental effects. But NEO was built in a way using an innovative technology called OnChain technology which has made it regulator friendly. Despite China’s regulations, it can rise as China’s own cryptocurrency.
The main feature of NEO is that it has its own cryptocurrency and uses the platform as a blockchain network to support it and circulate smart contracts to create assets. NEO aims to create a network that will allow users to manage their digital assets with the usage of smart contracts. In the paper, it has a similar model to Ethereum and has been nicknamed China’s Ethereum.
How can one transact NEO, and what is GAS?
The NEO network has two cryptocurrencies: NEO and GAS. NEO works in a slightly different way than most other cryptocurrencies. It uses a particular Byzantine Proof-of-work, which is different from POW or POS concept. Unlike miners, who get rewarded for validating transactions on the blockchain for cryptos like Bitcoin, on NEO, the holder is rewarded for possessing it. So, the NEO tokens signify a share on Bitcoin. In addition, buyers of NEO cryptocurrency who hold it in physical wallets are rewarded with GAS each time a new block is created. It is the method chosen for as long as GAS does not reach its cap at 100 million.
When to invest in getting profit from NEO or GAS?
This cryptocurrency has had a massive return ratio in the past and stayed at quite high prices for long periods. Since the first time the currency was introduced in the West since it was available for buying only through Bittrex, the rush to buy it has shit the price up too high. Bt since then, the price has lowered a lot. For the current time, it would be best if the person could day trade from NEO to GAS or vice versa. It is because the market is currently very volatile for cryptocurrency. It is because China could completely cease cryptocurrency, and that would create unnecessary havoc on the company. Also, the company has not shown any recent improvement, neither any speculation nor hype in the market. So, it would be recommended not to hold it for the long term, but it would be better suited for day trading. But it currently stands at the price of around $50, which is higher than what most expert predictors had predicted for the cryptocurrency stating that it may not even cross $30 by December 2021. So, it is for sure that the company should be kept on close watch to understand its dynamics and continuously monitor it.
Suppose you are looking for a platform to exchange NEO to GAS or exchange popular cryptocurrencies. In that case, a trustworthy and transparent exchange platform is what you need. Alligat0r is one of the best exchange platforms which can be used to track live data of coins, compare cryptocurrencies, exchange coins, and more. You can surely also exchange NEO for GAS and vice versa and gain some profit in the way.
The post NEO Review 2022 – 2023: When to invest with profit appeared first on South Florida Caribbean News.
By: South Florida Caribbean News
Title: NEO Review 2022 – 2023: When to invest with profit
Sourced From: sflcn.com/neo-review-2022-2023-when-to-invest-with-profit/
Published Date: Mon, 06 Dec 2021 23:14:28 +0000
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