So far, NEO has demonstrated that the crypto doesn’t have to be within the top 10 in order to be successful. In fact, it has been one of the fastest-growing crypto platforms around. Still, this is a difficult time for all cryptos, and both new, and experienced investors have been wondering about this crypto, whether it has a future, and if so, what is in store for NEO. Experts believe that it does, and a very bright one, at that. Let us see why.
About NEO
NEO is a cryptocurrency that has yet to become big in the western part of the world. However, the East has seen its potential a long time ago. In fact, NEO is one of the most beloved cryptos in the East Asia, which is why it is often called ‘Chinese Ethereum’. It currently holds the 12th place on CoinMarketCap‘s list, but there are indications that this crypto might rise far above it, and reach the top 10 once more, or maybe even top 5.
Despite the fact that China is among the countries that are not that friendly to cryptos, they still made an exception when it comes to NEO. This is one of the first, and biggest reasons why the experts believe that NEO will go big sooner or later. It is based on its own blockchain and offers the creation of smart contracts and dApps.
We have already mentioned that it is called ‘Chinese Ethereum’, and this is no coincidence. In fact, NEO is a lot like Ethereum, but it aims to do things better, and eventually surpass ETH, which is no small feat. One of the biggest advantages that NEO has over Ethereum is the ability to allow developers to code in various programming languages, where ETH only allows for one, and it is the one of its own creation.
Some things that make NEO specific include the fact that it cannot be divided, which led to the creation of another crypto in its community – GAS. GAS basically serves as a smaller version of NEO and acts as a cent to its dollar. NEO’s platform actually has yet another crypto, which is a relatively new addition and is called Trinity (TCN). TCN is nowhere near as successful as NEO, of course, and not even as GAS. Still, it was listed on BCEX, which may only be a start for this coin.
NEO criticism
Of course, just like other cryptos, NEO is not perfect. One of the biggest issues that the investors have with this crypto is its centralization. NEO is still being controlled by NEO Foundation, which means that they are the ones calling the shots, which goes against the very point of cryptos. The crypto enthusiasts believe that the decision-making should be left to token holders so that the crypto would ‘do’ what the people want it to do. So far, it has not yet been centralized, although there are plans to decentralize it.
What will happen to NEO’s price?
At the time of writing, according to CoinMarketCap, the value of NEO token is at $31.43. This is significantly lower than what the coin used to be worth at the beginning of the year when it exceeded $160 per coin. Still, many believe that this is a rough patch, but the one that will blow over eventually, and that NEO will be able to return to the glory days.
There are many reasons why this may be true, and why NEO ultimately is a pretty good investment. The support from the Chinese government was already mentioned previously, but it is still a good one to start with. Additionally, NEO’s biggest adversary right now is Ethereum, and despite its size, age, and many advantages when compared to BTC, Ethereum still has technical disadvantages when it comes to NEO.
Next, NEO is known for its concept of smart economy. This is maybe one of the most important reasons why this crypto is not going away since it allows for digitizing almost any of the real-world assets. The concept of smart economy involves even more, and it can be seen as a combination of digital assets, digital identity, and smart contracts. Thanks to the blockchain, traders will be able to get in contact with one another directly and conduct their businesses in a safe, transparent environment.
Conclusion
So, what does the future hold for NEO? According to everything mentioned earlier, this crypto has a reason to stay, and the business world has a reason to want it to stay. NEO brings a lot of various advantages, which will change the way that the economy works forever.
It still has a long way to go before it reaches the heights that it is expected to reach, but if one thing is certain, it is that this crypto is here to stay.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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