"THE BREAKDOWN" Episode 8 NEO

in #neo • 7 years ago (edited)

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NEO formerly known as Antshares is known as the "ethereum killer" as they push forward in fighting on the main stage of the top cryptocurrencies.

What is NEO?
NEO is a "distributed network for smart economy"
Screen Shot 2017-10-12 at 3.44.22 PM.png

Now NEO has two cryptocurrencies under its umbrella
(1) NEO (Previously known as Antshares)
(2) GAS ( Previously known as Antcoins)

NEO features include:

(1)decentralized commerce
(2)identification and digitization of assets
(3)advanced languages for complier including Go and Python
(4)The NEO contract part is made simple by using C# and Java which gives easy access for people to create on the blockchain with experience in those coding languages.

Are Ethereum and NEO direct competitors against each other? Its hard to say.

On one side of the spectrum people can argue that they do similar things around smart contracts and because of that fact it puts them into high scrutiny because of similarity.

On the other side of the spectrum NEO is backed by the chinese government and is supposedly going to be integrated with financial institutions there. NEO uses a delegated Byzantine Fault Tolerant (aka dBFT) consensus mechanism, which is an improved form of proof-of-stake. NEO is only divisible by amounts of (1) so no, (1.23) NEO. NEO uses another cryptocurrency to fuel its function (GAS). Two different visions while ethereum hopes to be the supercomputer based on blockchain. While NEO is going for a smart economy by making traditional assets digital, dapps, smart contracts, identity.

I think its important to have strong holdings in those cryptocurrencies that are going to be changing the world and I believe that both Ethereum and NEO will find their place center stage as the crypto world expands.

Technical analysis:
Screen Shot 2017-10-13 at 11.39.29 PM.png

We may see a $33 NEO soon and remember to always buy the dips to enter a trade. No reason to enter a trade when its peaking at the overbought range. This way it gives you leverage when your trading to be more flexible about your stop limit price.
Cheers,

Dante

P.S. If you have a cryptocurrency you want me to break down leave a comment and I will do my best to get the article done as soon as I can.

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7 years ago in #neo by
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     7 years ago 

    Great info didn't know they were backed by the chinese government, makes me feel safer about my neo:)

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     7 years ago 

    Yes I think with china's approval of them will only further their goal of building the smart economy. This is big in the eastern part of the world and we see similar trends happening like OmiseGo vs Metal. Both do similar things with their own strong points, but operate for different parts of the world. I think NEO could expand drastically though towards a more globalized front and I think with new traders in the west we are seeing this expansion happen right before our eyes!

    Cheers

    Dante

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     7 years ago 

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