Blockchain News, Cryptocurrency, Ethereum News

NEO The Chinese Ethereum could September be NEO’s ICO month

NEO referred to as Chinas Ethereum is trading around $40.25 with a market cap of $2, 040,745,100 at the time of writing ranking 9th overall in this crazy crypto world. Neo has a current circulating supply of 50 million and a total supply of 100 million. NEO has  two tokens NEO(NEO) and NeoGas or (GAS).GAS is currently trading at $24.50 usd. Neo has recently rebranded from Antshares(ANS) to NEO and has support from the Chinese government.

NEO represents the right to manage the network, these managing rights include voting for bookkeeping and NEO network parameter changes, you can also think of the token NEO as shares in the NEO network. One thing to keep  in mind when purchasing NEO if you transfer them from an exchange to a NEO wallet which is highly recommended only transfer whole tokens or you will loose anything that’s not a whole token, also include the fee to transfer  for example the fee is .025 I will transfer 1.025 and will receive 1 NEO token. NEO is not subdivided.

NeoGas(GAS) can be thought of as the fuel for the NEO network GAS also has a fixed total supply of 100 million. The NEO network charges for the use of the networks smart contracts and token storage, which is paid using the GAS token. If you hold NEO in a NEO wallet you will accumulate GAS which you can think of as a “dividend” by owning “shares” of the NEO network. Currently the amount accumulating in my wallet is around 8% not too bad for owning NEO which will most likely rise in price, not to mention the GAS will also rise in price as DApps are built on the NEO network.

Will September be NEO’s ICO month it could possibly be the month NEO blows up if projects start to be launched and start releasing ICO’s. Ethereum recently increased from around 10 dollars at the beginning of the year then paused around $50 to currently holding its gains over $300 USD. Why did ethereum take off so fast, it took off because of the many ICO’s that were based off the ethereum network.  If startups in china which currently is a major player in the crypto currency world start releasing ICO’s on the NEO network there will be an extremely high demand for NEO and GAS. If this does happen the price of both NEO and GAS will sky rocket and could go as high as ethereum or further since NEO is based in china.

NEO’s smart contracts 2.0 will allow developers to start creating smart contracts  in many languages which will allow mass adoption in a quick time frame as there is minimal learning to build on top of the NEO ecosystem allowing more then 90% of developers to participate in the development of Neo smart contracts.

The languages that are currently supported are:

1) C#, VB.Net, F# 2) Java, Kotlin

The languages that they plan to support include:

1) C, C ++, GO 2) Python,  JavaScript

The NEO network will use technologies such as dBFT, NeoX, NeoFS, NeoQS and many other technologies as the infrastructure for the smart economy of the future.

dBFT is the Delegated Byzantine Fault Tolerant, this enables large scale participation.

NeoX is a protocol that will implement cross-chain interoperability. It is divided into two parts.

cross chain assets exchange protocol and cross chain distributed transaction protocol.

NeoFS is a distributed storage protocol that utilizes distributed hash table technoclogy

NeoQS is a Anti-quantum cryptography mechanism NeoQS stands for NEO quantum safe

With all that said could September be the ICO month for NEO it very well could be and if it is not that’s ok NEO will have ICO’s built ontop of it and until then ill hold my NEO in a wallet and collect my Neo GAS as the price continues to rise.