Ethereum Strong competitor
NEO Digital Currency is Ethereum's main competitor in the digital currency market. Neo is a blockchain-based platform that allows developers to create decentralized applications and smart contracts. One of the most important factors determining the success of the Neo is the support of the Chinese government, as it was China's first digital currency.
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Know more about Neo
Neo Digital Currency, originally called "AntShares", was founded by Da hongfi in 2014. It was in June 2017 that Neo changed its name from AntShares to Neo.
Neo was China's first digital currency and a direct competitor for Ethereum. Like Ethereum, the Neo currency is more than just a digital currency, and this factor has a significant impact on the Neo price forecast.
Neo is essentially a blockchain-based platform that allows developers to create smart contracts and decentralized applications.
Ethereum was the main creator of these smart contracts, which is why Neo is often called "Chinese Ethereum".
As far as bitcoin is concerned, neo is very different. The reason for this is that the sole purpose of Bitcoin is to use it as a digital currency, intending to be a replacement to Fiat currencies such as USD, CAD, GBP, and so on.
As mentioned earlier, in addition to being a digital currency, NEO has many more uses.
Some of the main features of Neo are
Unlike most other digital currencies, neo coins are not divisible. So you can not say trade 0.5 neo or 0.11 neo. Neo can be considered similar to the stocks of any company that cannot be divided.
There is another digital currency that can be used by the neo-community. That is GAS. By holding Neo coins in your wallet, you get GAS, which can be used to trade in Neo blockchain.
Because GAS is divisible by up to 0.000000001, GAS digital currency can be used to pay for transaction costs generated by applications on the network. Just like how ether is used in the Ethereum network, GAS is also used in the Neo network.
Ethereum, on the other hand, allows programmers to code in only one language, which is Solidity. But Neo allows developers to code smart contracts using C ++, C #, Go, Java, and other common programming languages.
Investment history in Neo
If in (July 2017) you had chosen Neo as the central title for investment, when its price was about $ 6, your $ 100 investment in (January 2018) would reach about $ 2700. Provide a return on investment of 2600%!
Neo began gaining popularity around the same time as changing its name from "AntShares" to Neo.
You may be wondering what is the reason for the historic rise in the price of the Neo? Here are some key reasons to look at them:
NEO is the first open-source blockchain platform developed in China. This made the neo the most popular currency in China. It is one of the largest digital currency markets in China.
Ethereum became very popular because it promised to provide more services than Bitcoin by providing a platform that allows the development of decentralized applications.
Neo does the same thing to Ethereum, but in a better way. This is what makes Neo so popular among investors, developers, and users.
Although these specific factors are related to neo, many factors in the market can affect its price. Therefore, it is very difficult to achieve accurate forecasting of neo coins, even for experienced investors.