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NEO Cryptocurrency Review

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Neo Crypto Insight
Reading Time: 8 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 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 - Go digital

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.  Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies.

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

Cryptocurrencies

Next Generation

Bypass unilateral US 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.

NEO - 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

cryptocurrency is a type of currency that uses digital files as money. Habitually, the files are produced in the same way as cryptography (the science of hiding information). Cryptocurrencies use ‘decentralised control’, which means that they are not governed by one person or government.

NEO - is not a copy cat of Bitcoin

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 - Global Market Demand

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.

NEO smart contract

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 smart contract sample

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 NEO Contract. You record the data of the vehicle and the purchase price.

The NEO Contract 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.

Where to buy NEO

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

Get NEO step-by-step

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.

NEO 3

Therefore, the NEO 3 update aims to use the system in large commercial structures. The full update is expected to launch in the first quarter of 2020. Among other things, it includes reduced costs and expenses for Smart Contracts. With NEOID, the makers are also planning a decentralised identity protocol.

In the future, NEOFS will also get used to store objects decentrally on the blockchain.

All in all, therefore, NEO is makes a big splash with its renewal plans. The Chinese open-source network takes now the first step towards offering useful security and transaction services via the blockchain for significant customers such as YouTube, Alipay and WeChat.

Conclusion

We hold only a few cryptocurrencies and a relatively 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 should be aware that these are high-risk speculations, and therefore you should play with modest stakes. In our case, we see it as a training lesson in a new world. 

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

Please make up your analysis and dive into this subject. Would you mind giving us your view in below comment box?

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SeventyOne. Disruption and transformation are the only constants in this world. Hence, as the seasons’ change, simultaneously do business models, moreover at the same time, groundbreaking disruptive innovations appear. Hence, under those circumstances, you can get disruptive innovations the way you like them, and in contrast, something outside your authority alters everything unexpectedly, like a virus. Therefore, be ready.

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