The NEO token roared from inauspicious beginnings into one of the world’s top cryptocurrencies in 2017. This Chinese token is built to function within the new “NEO Smart Economy” – a combination of new technologies, algorithms, and communication technologies said to be the next evolution in human technological society.
NEO is a smart contract platform a la Ethereum, with a new, more versatile approach to platform security. It has its own fuel token, GAS, a task for which Ethereum’s Ether performs double duty (as a currency and as a token). NEO’s integration with Chinese industry and culture, combined with its novel technology, have made it a cryptocurrency mainstay. But why has NEO’s price been surging lately?
5 Reasons Why NEO’s Price is Surging
NEO’s 2018 price decline wasn’t due to problems in the NEO camp. In fact, as our current bear market has progressed, NEO has presented good news upon good news. Here are some of the facts that the market is just realizing.
1) NEX ICO Finally Approved
NEX, the decentralized exchange designed by the City of Zion (western NEO dev community) is finally approved. The ICO will be one of the hottest in 2018 and will go live in early September.
2) NEO Game Competition
NEO is proving to be a powerful decentralized gaming platform. With an ongoing game design competition, with winners announced in September, the excitement is starting to build. Early demos of these games show world-class entries.
3) NEO 3.0
NEO has announced it is fundamentally redesigning its blockchain, making it faster, more scalable, and more secure.
4) NEO Decentralization
NEO nodes are few in number but are spread around the globe. Those who thought NEO was centralized within Chinese borders have been proven wrong.
5) 1st Class ICO/Dapp Schedule
NEO is stealing ICOs from Ethereum, and the Dapps released on NEO are first class. It requires high investment for developers and approval by the NEO Foundation to move forward. This has created a top quality bunch of applications, with more and better innovations on the way.
NEO is one of the world’s most valuable cryptocurrencies, with the possibility of new all-time highs in the future. With the NEO price low after months of market bloodletting, the flood of new people looking to buy NEO is well earned.
Featured image source: Flickr