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NEO Cryptocurrency Review

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Reading Time: 7 minutes

NEO Smart Contracts

Anyone recently trading in cryptocurrencies stumbled across the relatively young AntShares, which get called NEO since the beginning of August.

Crypto insiders consider the young cryptocurrency NEO to be exciting and far undervalued. Allegedly, NEO is exceptionally dynamic, promises big profits and is safe as an investment. We are not so sure about that…

The content provided does not constitute investment advice or investment brokerage. Likewise, the analyses are an invitation to trade. They merely reflect the opinion of the author. All statements on cryptocurrencies and their possible price development are non-binding. If users of the site trade based on the presentation of analyses, this is done entirely at their own risk. The public and non-public contents of the platform www.seventyone.ch do not represent financial services within the meaning of any Banking Act or securities services within the meaning of any Securities Act.

Cryptocurrencies

So-called cryptocurrencies play an increasingly important role in the international financial market. In the investment business, even though the seriousness of these currencies, also called Fiat money, is still controversial. With cryptocurrencies, an independent, digital payment transaction get made possible, and this makes instances such as banks increasingly superfluous. The best-known cryptocurrency is Bitcoin, which is trading since 2009.

Fiat Money

Fiat money is the government-issued currency, not (anymore) backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

However, Bitcoin faces competition from the cryptocurrencies Ethereum and others. Today, we count more than 3,000 cryptocurrencies worldwide.

Why Cryptocurrencies

Next Generation

Sanctions

Global Debt

Global Trading

The content provided does not constitute investment advice or investment brokerage. Likewise, the analyses are an invitation to trade. They merely reflect the opinion of the author. All statements on cryptocurrencies and their possible price development are non-binding. If users of the site trade based on the presentation of analyses, this is done entirely at their own risk. The public and non-public contents of the platform www.seventyone.ch do not represent financial services within the meaning of any Banking Act or securities services within the meaning of any Securities Act.

Made in China

The marketer of NEO is a blockchain platform from China. The NEO coin, formerly AntShares, has its website in Chinese.

Parts of it can be translated into English. The NEO Community made other translations available. 

Connoisseurs quickly notice that NEO has parallels to the cryptocurrency Ethereum.

Neo Smart Contract

Neo is not a copy cat

Nevertheless, NEO is not a Chinese copy of Ethereum. Digital valuables can get regenerated via NEO.

NEO also offers its customers a full Turning Smart contract. NEO’s offering is generally more complex than Ethereum’s. Besides, the NEO owner receives GAS coins on selected platforms or via NEO Wallet, which can get sold again.

Another advantage for the success of NEO is that the crypto market in China has existed for a long time.

Calculate your GAS yield for your NEO here

NEO and the Global Market

On the global market, NEO is only gradually penetrating the consciousness of investors. NEO’s reliable cooperation partners also speak for themselves. These include Swisscom, Wings, Zeux, Bancor, Microsoft and Alibaba.

Neo versus Ethereum

In contrast to Ethereum, which uses the newly created programming language Solidity and therefore only Smart Contracts can be developed, NEO, on the other hand, offers a broader range of programming languages.

The compiler can be used to compile the already established programming languages Microsoft.NET, Java, Go and Python. Thus the difficulty for developers to write Smart Contracts is considerably reduced. Consequently, NEO has a much higher potential to gain a large developer community.

NeoContracts

As mentioned before, NEO resembles the cryptocurrency Ethereum. NEO works with so-called NEOContracts. They have the same functional principle as the Smart Contracts of Ethereum. With the NEOContracts, it is possible to create and monitor a contract between two parties without an intermediary.

Neo Contract

To make this a little easier to understand, here is a small example:

You want to sell a vehicle. After a buyer found for the car, it’s time to draw up the sales contract. This transaction gets usually all recorded on paper. Now imagine you don’t need a standard sales contract on paper anymore but type everything into a NEOContract. You record the data of the vehicle and the purchase price.

The NEOContract contains the step that after the payment, the papers of the vehicle go to the new owner. All these steps get programmed, fixed and no more paperwork.

The content provided does not constitute investment advice or investment brokerage. Likewise, the analyses are an invitation to trade. They merely reflect the opinion of the author. All statements on cryptocurrencies and their possible price development are non-binding. If users of the site trade based on the presentation of analyses, this is done entirely at their own risk. The public and non-public contents of the platform www.seventyone.ch do not represent financial services within the meaning of any Banking Act or securities services within the meaning of any Securities Act.

Marketplaces

On the following markets you can buy or trade NEO (status 16.10.2019):

How to buy NEO

NEO belongs to the TOP 30 cryptocurrencies on the market. NEO is now available on many stock exchanges. However, the purchase is still only possible with a small detour.

Conclusion

We hold only a few cryptocurrencies and a rather small range. Bitcoin seems to be something of a standard, but Ethereum also seems interesting to us. However, we like the concept of NEO, and China could become a massive market if NEO can prevail. So it doesn’t matter what the rest of the world does. However, you and we should be aware that these are high-risk speculations and therefore you should play with modest stakes. In our case, we see it as training lesson into a new world. 

However, we also see it as a tiny small hedge for the increasing financial instability – currency war – orchestrated by the government and their central banks. Governments are trying to prevent cryptocurrencies, but are actually pushing people into it. The push will come from the emerging markets.

Please make up your own analysis and dive into this subject. Please give us your view on below comment box.

Important: All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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