After a bloody Q4 for the crypto verse, things appear to be looking up for select coins. NEO (NEO) hit the green zone earlier in the day to trade in the double-digits at a time when the market leader Bitcoin tested the $4000 mark. NEO surprised many by gaining slightly over 10% against the dollar.
The rest of the coins in the market showed an uptrend with Altcoins outside the top ten brackets benefiting from the BTC marginal price surge. NEO has its presence felt in China and all along has been termed as the “Chinese Ethereum” and the tag will be tested in 2019.
NEO Price Surge
NEO shift from the price sideways swings to become the day’s best performer among the top 20 most valuable coins an early signal of the coin repositioning itself in 2019. The coin has been battling the bears since its all-time high of $170 to low of $5.
Previously, market hype has been the market mainstay and the current prices or value of each coin is a true representation of what the coin is worth. The last one year has seen man platforms shift from hype to infrastructure development and for NEO, things might look up this year.
What is Making NEO Shiny in 2019?
Currently, the NEO ecosystem is deriving its popularity from its level of decentralization. The outfits MainNet prides itself with a total of 7 consensus nodes that are spread across the globe with Netherlands telecommunication firm KPN and City of Zion hosting two of these nodes.
NEO’s freedom from a centralized consensus has seen it develop the “becoming a consensus node” concept and according to the project report:
“Governance of the NEO network currently consists of two methods: on-chain governance and off-chain governance. On-chain governance is election through the votes of NEO holders, whilst off-chain governance relies on election through the support of the NEO Foundation. In the near term, the NEO Foundation will focus on promoting decentralization through off-chain governance. The goal is to accelerate the decentralization process in an orderly manner by delegating consensus nodes to reliable and trustworthy parties.”
With a new version of NEO; the Neo 3.0, the platform will become open to more Enterprise real use cases. This will make the system more scalable, stable and the transaction rates will also go a notch higher. With new smart contract APIs, the platform is set to give a new experience to its investors.
NEO Route to the Marketplace
The NEX and nOS integration into the NEO ecosystem is set to entice the consumer uptake of the platform’s products. More importantly, this will expose the platforms dApps to a wider market given that they are safe and easy to use whilst connecting users to their blockchain based open internet.
The beauty of the platform is the NEX or NEO Exchange that acts as a payment interface for trading crypto in a decentralized environment. This is a feature that aims at high-level adoption since it acts as the meeting point between decentralized and centralized exchanges.Leave a comment