China's president, Xi Jinping has made a shoutout about accelerating the blockchain adoption as a core innovation. This announcement made NEO surge up by 45% in the last 24 hours. The Chinese trading expert, Josh Rager points out that after this news surfaced all over, the trading volume of NEO increased by more than 1 billion USD. At the .NET conference which was held months back, NEO became the first-ever blockchain member of Microsoft's. Neo has also recently closed a deal with ZelCore wallet to increase mass adoption in the global economy. Not only that, even Neo and Ontology has recently partnered for the creation of an interoperable protocol to spur development in the years to come. This partnership aims for an eco-friendly approach, with a low barrier to entry and at the same time focusing on the scope of decentralized applications (dapps).
Neo mainnet has been successfully upgraded on June 3rd, 2019 which would help in improving the stability of the Neo blockchain and is the first one to implement the dBFT (delegated Byzantine Fault Tolerance Mechanism) 2.0 Consensus Mechanism. Currently, there are seven consensus node managed on the NEO mainnet, out of which five are managed under the NEO Foundation itself. In 2019, NEO is planning to replace four of its node by the applicants who have passed the screening selection process and have done a six-month testnet trial. This indicates that in 2019, NEO mainnet will be operated by a separate entity, demonstrating its decentralized nature.
NEO has basically been designed to digitize the various assets and ensures that the transactions are done with the help of smart contracts. Since NEO's formation, the blockchain has seen a considerable amount of traction among the users. NEO was China’s first digital coin and also a direct competitor of Ethereum, hence often referred to as the “Chinese Ethereum”. Like Ethereum, the NEO is much more than just a digital currency, and this factor has a significant impact on NEO price predictions.
NEO price for today is 11.76 USD. Its current circulating supply is 70,538,831 NEO with a market cap of $829,777,741. In the last 24 hours, NEO increased by around 45%.
NEO is a blockchain platform for the advancement of digital assets and smart contracts. Smart contracts are the next big thing which can be applied to many real-life situations and businesses. It was rebranded from AntShares to NEO in June 2017, which proves that NEO is predominantly a new coin, which geared up like a storm to be able to secure the spot in the top 20 cryptocurrencies in the world.
One feature of NEO is that it cannot be divided. So, you can't make a transfer like 0.5 NEO or 0.11 NEO. It can be considered similar to the stocks of any company, which cannot be divided. But by holding this crypto, you’ll be able to hold another cryptocurrency- GAS, which can be divisible up to 0.00000001. NEO can be bought and sold on a variety of crypto exchanges, which provides it with increased credibility in the eyes of the commoner and makes it an option for a large number of people looking start getting in cryptocurrency whereabouts.
NEO is surging to be bullish, which states that it might touch the highest touchdown in this month. NEO has been great in not losing its positive stance, and that pushes it to move upwards dramatically.
NEO, because of its potential, makes a good option for a long-term investment than most other cryptocurrencies, and NEO price predictions can be quite difficult. Although it is also facing a number of headwinds, this year could be very positive for NEO. Let’s get a glimpse of the future of NEO by looking out the predictions given by the crypto traders or publications:
Being Crypto predicts that NEO might reach $120 by 2019 end, 200 USD by 2020 and in five years might go up as much as $450. Their confidence in the prediction shows that NEO has the potential to surpass other coins by their developments.
Smartereum gives a 5-year forecast wherein they have said that the five-year forecast is around $ 1275, which looks like on an average NEO might increase by 1.5X on an average every year.
As per Long Forecast prediction, they believe that the price of NEO might depreciate in 2019 and might fall to around $9. But, 2020 holds positive and they predicted that NEO might reach as high as $21 by the end of 2020.
According to Crypto Ground, NEO might go up to $195.352 in a period of 5 years, which will be an increase of around 40X, X being the current price.
CoinFan believes that by 2019, NEO might hit $200 at the maximum and by 2020, it might go up as much as $783. THis looks like an optimistic bullish prediction by Coin Fan.
The futuristic concerns primarily drive NEO’s developers, as they are focused on making NEO the foundation for an economy of the future. They are very proactive in reaching their goals as they’ve even abandoned the traditional proof-of-work and proof-of-stake validation algorithms for a delegated Byzantine fault tolerance algorithm, that is optimized to reduce the vulnerability of the network to bad actors while increasing its scalability in terms of transaction speed. These developments make NEO one of the most sought-after cryptocurrencies. According to NEO price prediction of 2019, it might plunge upwards to reach the $200 mark by the end of 2019.
Trinity might employ state channel technology to enable transactions to be made off-chain at the beginning of 2019, using a multi-signature agreement or smart contract. This might be designed to allow multiple transactions at the same time, thus increasing transaction speeds and reducing fees. 80% of the Trinity launch has been done, and the remaining will be delivered by the beginning of 2019. More dApps (decentralized apps) and ICO’s looking to enter the NEO blockchain – combined with the introduction of NEO-based exchanges like NEX, which will make its value appreciate and might lead it to $200 level, which marks the starting of a progressive era. You can convert NEO to BTC at CoinSwitch at the best rates.
Read more: Top Neo wallets in 2019
NEO might officially get the Chinese government on board on the whole blockchain bandwagon and capture most of the Asian market by 2020, which will not only increase the adoption rate, but also the use cases. It is planning to work on its trading features and support cross-chain trading in its exchange platform. Da Hongfei and Erik Zhang- NEO founders are working towards making NEO the most developer-friendly through NEO 3.0, optimize its fundamental architecture and ensure the current development of NEO is not slowed down. They are even planning on introducing NeoFS which will provide NEO with the ability to store massive amounts of data. This will help in designing a stable and powerful smart contract system by providing a complete development environment and tools which include providing financial and technical support for projects in the ecosystem. By the end of 2020, NEO might be one of the top 10 or rather 5 cryptocurrencies in the world.NEO is predicted to reach $274.8 by the end of 2020.
Considering the scalability of the platform and its potential, it is a good opportunity for the investors to invest in this cryptocurrency. Even Considering the fact that it is also starting to garner the attention of the institutional investors, the potential is sure to raise more and more. By 2023, NEO is going to be one of the most widely used cryptocurrency and might reach as high as $437 USD by the end of 2023.
As per NEO price prediction 2025, NEO might reach $533, which might become one of the biggest stepping stone for NEO. NEO might even move up the ranking order, gain good deals and partnerships with the biggest organizations in the world. NEO has always proved its uniqueness, which helped the NEO fans to stick by, even when it is not doing well. This proves that NEO might prove to be a game-changer in the days to come. By 2025, Neo might reach $533.
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2019-08-30 09:39:57.787517 | 2 min