Da Hongfei and Erik Zhang are the co-founders of this open network for the innovative economy. Da Hongfei is a graduate of the South Chinese University of Technology and a blockchain enthusiast. Erik Zhang, who is the brain behind the dBFT protocol, is a graduate of Shanghai University. Hongfei and Zhang founded NEO in February 2014. Meanwhile, the project was then known as Antshares with a token name of Antcoins (ANC). The team released NEO’sNEO’s whitepaper in April 2016, stating the project’s goals, development roadmap, and the technology they will utilize. The whitepaper stated the features and benefits of the Delegated Byzantine Fault Tolerance (dBFT) mechanism. Since dBFT was the first-ever consensus mechanism created in China, NEO news had massive media coverage then. In August 2016, there was an initial coin offering for NEO. The project secured over $4.5 million from the token sale—Neo Foundation better-funded Neo’sNeo’s strategies after the ICO. NEO received support from the US crypto market in 2017 after rebranding from Antshares. Bittrex listed NEO on its exchange, and a year after that, VALID also partnered with NEO. VALID is a digital identity management platform, thereby giving NEO’sNEO’s digital asset use-case a real-word usage.
The NEO network hosts two native tokens NEO and NEO GAS (or GAS). NEO is an investment token that also gives governance and voting rights to people who hold it. NEO GAS is a means of payment on the network; developers or businesses who create products on the blockchain pay transaction fees using GAS before they successfully launch a project.
NEO runs its unique consensus mechanism; the network validates transactions using the delegated Byzantine Fault Mechanism (dBFT). Distributed blockchains systems face the threat of transmission errors, network latency, and other loopholes in their security. Also, data differences and dishonest nodes may emerge on the network. While the proof-of-work protocol tries to solve these issues, PoW is rather expensive. Electricity and computational cost are enormous, likewise the need for stable internet connection. As a result, NEO proposes the delegated Byzantine Fault Tolerance. This algorithm is based on the Practical Byzantine Fault Tolerance.
Per dBFT, some nodes are known as Bookkeepers, or digital accountants do the block verifications. Afterward, they broadcast the data on the blockchain. To reach a consensus, two-thirds of network nodes must agree on the new block. Advantages to this consensus mechanism are numerous. Meanwhile, the dBFT facilitates super-fast transactions up to 1,000 TPS (transactions per second).
In comparison, Ethereum can only handle about 12 to 15 transactions every second. Additionally, the Delegated Byzantine Fault Tolerance does not require computational and electricity costs like Proof-of-Work. Furthermore, the dBFT protocol helps to prevent dishonest nodes from undermining the blockchain’s efficiency.
In 2014, Hongfei and Zhang also worked on a blockchain project known as Onchain. Onchain is a blockchain network that provides private blockchain services for various businesses. Onchain uses the Distributed Networks Architecture (DNA) to help companies to create private blockchain networks.
NEO Price Chart
NEO began 2021 with an uptrend. Remember, as of March 2020, the NEO coin price fell below $4, and the highest it sold for in 2020 was $26. NEO price was around $14 when the coin formed a demand candle at the beginning of 2021. Since then, the lowest NEO price USD has been $14. In 2021, the NEO price chart formed a resistance level at $55 (NEO’sNEO’s highest price in 2021 so far) and another price resistance around $43 on the daily timeframe. On the daily timeframe, Pivot support levels on NEO’s current price chart are at $43 and another at $20. In 2018, NEO was part of the massive bull run. NEO coin price went as high as $196.85, which is NEO’sNEO’s all-time high.
Meanwhile, NEO’sNEO’s all-time low is $0.0722. So far, $0.0722 has been NEO’sNEO’s lowest price for the past four years. The all-time low was NEO value in its early days. NEO’s current price as of this write-up is $38.45. Possibly, this price is a result of Bitcoin price dumping from $61,000 to $55,000.
Market Prediction for NEO in 2021
The growing ecosystem of Neo owns a unique native token. Neo coin is reputable and well known in the crypto space, and it ranks 38 on CoinMarketCap. Out of almost 8,800 cryptocurrencies, Neo claims 0.16% of the total market cap of crypto assets. Neo has a market capitalization of over $2.7 billion ($2,712,477,055). Likewise, Neo boasts of a daily trading volume of more than $700 million. Thus, Neo is no micro-cap asset that can be subject to pump and dump schemes.
The NEO coin has a definite maximum supply. The max amount of NEO that will ever be available is 100 million tokens. Meanwhile, the amount of NEO in circulation is 70,538,831. If the maximum supply of NEO were to be in circulation, then its market capitalization would be $3,845,367,177 (going by Neo value). Over 133,000 CoinMarketCap customers have NEO on their watchlists. NEO is tradable on significant cryptocurrency exchanges, including Binance, Huobi, Bitfinex, Kucoin, and many others.
Neo Price Prediction 2021
Longforecast Neo Price Prediction 2021
Throughout 2021, Longforecast predicts that Neo would not close at a $60 coin price. Although NEO price could go above $60, it will later fall below that mark. Neo predictions by Longforecast.com are that the coin would close around $58 by December 2021. Also, their future Neo predictions suggest that Neo value will continue to dump even in the long-term.
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Digital-Coin-Price Neo Predictions 2021
Digital Coin’sCoin predicts that Neo coin price would be up to an average of $54 by December 2021. Meanwhile, Digitalcoinprice.com also predicts that by October, we would experience almost double the current price of Neo. However, just like Longforecast, Digital Coin expects that Neo price USD would not close at an average of $60 by December.
Previsioni Bitcoin Neo Predictions 2021
Previsionibitcoin.com published a bullish Neo news. They predict that Neo price USD would hit $102 by December 2021. This prediction is about a 260% increase in Neo’s current price. The website indicates that Neo would boost heavily in 2021 as a result of massive adoption. Also, as the crypto market capitalization increases, Neo’s value is expected to follow the trend.
Trading beasts Neo Price Prediction for 2021
Trading Beasts experts predict 2021 as a somewhat bearish year for Neo. Their Neo coin price prediction for December 2021 is lower than Neo’s current price. According to Tradingbeasts.com, NEO average price will be $36. Also, the maximum Neo price prediction they have for 2021 is $45.9, and this will only happen by December. Trading Beasts did not forecast bullish NEO news in 2022 either.
Wallet Investor Neo Price Prediction for 2021
While Wallet Investor does not predict a bearish 2021 for Neo, they do not see a massive rise in NEO price this year. Wallet Investor marks NEO as an excellent cryptocurrency to hold for one year. According to Walletinvestor.com, the price forecast for Neo within a year is $44.59. Therefore, if you buy at Neo’s current price, every token you buy would yield $5 after a year.
Additionally, Wallet Investor predicts that Neo would sell for up to $68.68 by 2026. Thus, buying $1,000 worth of Neo tokens will yield $736 profit within five-years.
Neo Price Prediction 2021
The 2021 calendar year is still in its first quarter. So, Neo can achieve so much from now till December. Several factors could drive Neo’s price to new highs in 2021. To avoid inflation, Neo only mines 15 million of its tokens per year. This way, if some interesting Neo news causes an increase in demand, the market won’t have to battle with supply. Also, Neo can process up to 1,000 transactions every second. Thus, the blockchain is enterprise-ready and can enable massive adoption. Firms such as Microsoft, HyperLedger, and Alibaba are investors in the Neo project. The founders of NEO are keen on gaining recognition and cooperation from the Chinese government. If this happens, Neo would be able to receive large investors from the Chinese financial market.
Meanwhile, there are downsides to the several advantages of Neo. As said, the founders of Neo have another project called Onchain. While Onchain serves another purpose different from Neo, its policy might have effects on Neo. Also, if Onchain seems to gain better support and partnerships, there is a possibility that the co-founders could divert their attention from Neo. Although, it might be hard to abandon Neo since it is as promising as Onchain.
Every month, Neo releases a statement reporting the activities of the team and developers. The report for February 2021 stated that the proposed Neo3 would soon be ready for a formal TestNet launch. The latest development about Neo3 is Preview5. This feature will introduce a domain name service compatible with traditional IP domain names – thereby making the Neo platform more user-friendly. The report stated that Neo3 TestNet should be ready to launch by late March 2021. The upgrade into Neo3 is expected to be great Neo news, which could drive Neo coin price higher.
Neo Price Prediction 2025
Neo Predictions for 2025 are both positive and negative. As it should be, some expert prediction websites predict that Neo’s price will be more than double in 2025. However, some websites forecast that there will be no massive improvement in Neo’s current price in the long-term.
Wallet Investor predicts that Neo will hit almost $90 by 2025. They gave a specific prediction of $68.68 Neo coin price.
Longforecast.com is relatively neutral on their future price forecast for Neo. Longforecast experts predict that Neo price USD will be between $39-$46 by 2025.
Digital Coin also has a bullish Neo price prediction. By 2025, they speculate that Neo coin price would be about 3x its current price.
Price Predictions for such a long-term can be challenging. However, as the available cryptocurrency market cap is moving towards $2 trillion, the price of crypto assets will follow the trend since they determine the market’s total value.
Neo Price Prediction Verdict
Neo is a thriving network that is rapidly growing and developing. The Neo Foundation, formerly known as Neo Council, has secure partnerships for the blockchain service. Also, decentralized applications, smart contracts, and other exciting products are emerging on the network. Developments like these will enable Neo to reach its goal to become the next-generation internet.
Recently, NEO announced its partnership with the upcoming DigiFinex Cryptocurrency debit card. This card will provide customers with the ability to make payments with NEO and other cryptocurrencies through UnionPay. This development is to launch on March 30, 2021. Meanwhile, UnionPay is one of the world’s largest PIN-network.
Likewise, on March 15, FiCAS ETP, a firm that trades on the Swiss SIX Exchange, received the visit of a representative of the Neo Blockchain. According to Neo’sNeo’s official Twitter handle, the visit was to encourage institutional adoption of digital assets. Meanwhile, we do not know if this visit would lead to a partnership.
Neo is a platform that provides blockchain-based enterprise solutions and enables intelligent contract development. Currently, there is an EcoBoost program to power up the success of products looking to launch on the Neo platform. Neo will invest up to $100 million in various blockchain solutions through the EcoBoost program.
Neo is a well-grounded blockchain network. They have more than ten communities in 20 cities spread across seven countries. Neo also boasts recognition in China and across Asia. Therefore, investors can be sure that the project is here to stay. Crypto traders who wish to hold NEO can do so on Atomic Wallet. Atomic provides a decentralized Wallet for buyers to store and manage NEO tokens.
How to Buy NEO
On the Atomic Wallet interface, users can purchase various cryptocurrencies directly using a debit card. However, you cannot buy NEO tokens instantly for now. In the meantime, Atomic users can purchase NEO tokens from cryptocurrency exchanges and send to their wallet. NEO is available on Binance and other markets.
How to Exchange NEO
On Atomic Wallet, you can exchange several cryptocurrency pairs, including NEO. Users can buy USDT, Bitcoin, or other coins and swap to NEO. Swapping is a more straightforward method to buy NEO tokens. The Atomic Wallet app is available for download on the Play Store and Apple store.
The NEO price prediction article is not financial advice. The cryptocurrency market is volatile, and prices change every time. Please do further research and analysis before investing in cryptocurrencies.