Analysis: NEO

NEO

A distributed network of intelligent economy

1. What is it?

China’s first ever original and open source public chain project, NEO serves as a smart asset platform. Smart assets are the combination of smart contract of blockchain and digital assets.

NEO allows for a smarter way for assets registration, issuance, and circulation. Digital assets exist in the form of electronic data and with blockchain technology, digital assets become decentralized, trustless, traceable and highly transparent. NEO’s underlying technology supports multiple types of digital assets and uses a digital certificate to enable trust for public chain, namely the assets issued by users via digital certificate are protected by law. On the other hand, for more complicated scenarios, users can use smart contract to enhance and enrich the functions of assets. Besides, users can also create smart contracts with other functions unrelated to assets. Smart contract, a concept that was first initiated by Nick Sazbo in 1994, has a history as long as that of the Internet. According to Nick Szabo, Smart contract can execute contract clauses when the preprogramed conditions are met. It is blockchain technology, due to its decentralization, immutability and highly reliable system that provides the very environment for smart contract to embody its value. (Source:https://neo.org/)

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2. FIT Test (F: Future updates; I: Innovation; T: Trends): FIT Test enables us to check the uniqueness, alignment with respect to the current trends and future update of the fundamentals of the corresponding cryptocurrency.

A) Innovations: One big contrast of these competing platforms is their programming languages. Ethereum requires developers to learn to program with Solidity. Neo, on the other hand, will support almost all programming languages via a compiler, including those on Microsoft.net, Java, Kotlin, Go and Python, greatly lowering the difficulty for developers to write smart contracts.

B) Trends: Digital Asset Management, Management of real world assets.

C) Future updates: 

i) Innospace CEO announced $29.3M USD incubation fund, a collaboration between his company and the NEO blockchain team. Plans for the fund include the establishment of a new blockchain space in Shanghai, combining working spaces, startup incubation and acceleration.

ii) Partnered with Agrello to develop smart contracts for automation, self execution, accuracy and transparency. Powered by AI, Agrello will be a platform for nonW programmers to create their own legally binding blockchain based smart contracts. Use cases for Agrello’s tech include renting and sharing, freelance contracting, orchestrating production flows, and reducing administration costs for multinational corporations.

iii) With offices in Israel and Shanghai, Coindash will be a social trading platform for crypto assets, offering portfolio management tools for digital asset investors. Features of the platform will include portfolio statistics and management tools, investment automation, an ICO dashboard, and insights into other traders’ successful investing strategies. In the upcoming development of Nest Fund, a blockchain based smart fund by the developers of NEO, Coindash will offer advisory and prediction tools for Nest’s modern investors.

iv) The former CTO of OkCoin, Mr. Zhao Chang Peng is starting his own digital asset exchange, hoping to compete with platforms like Poloniex. Calling his new platform Binance, this new exchange will only deal in coin to coin transactions, avoiding fiat pairs and therefore avoiding Chinese regulations. In order to maintain a standard in mature digital assets, Binance will only list coins that meet its strict criteria. With a launch planned for later this year, the platform’s first traded assets will be bitcoin, ether and NEO.

NEO Coinigy
3. Community:

At a gathering of 200 people at Microsoft HQ, Beijing declared a complete rebranding of the company. ANS became NEO. Following people took the dais as speakers:

  1. Da Hongfei, founder of NEO.
  2. Erik Zhang, Core Developer of NEO.
  3. Tony Tao, CEO of NEO and Founder of Nest Fund (Investment Fund).
  4. Srikanth Raju, Microsoft’s G.M of Developer Experience and Evangelism for the Greater China Region.
  5. Mr. Han Feng, Tsinghua University IWCenter.
  6. Chen Cheng Qiang, founder and CEO of Innospace.
  7. Alex Norta, founder of Agrello.
  8. Adam Efrima, COO of Coindash.
  9. Zhao Chang Peng, CEO of Binance.

4. Unique Features:

  • NEO applications can be developed using all major programming.
  • Tie ups with influential people in China.
  • A collaboration of digital asset management with real world asset.

5. Downside / Risks:

  • Replicable
  • Not available on Poloniex. Use Bittrex. (Not a downside for most of the people since they have already moved their assets to Bittrex recently.)

6: Future: Considering the community and innovations, it may be seen as a good competitor against Ethereum for the 2nd place in Total Market cap after Bitcoin in China.

7: Technical Analysis: 

NEO analysis Coinigy

Since the past few days, we have observed a significant price hike in NEO. Prices have soared from USD $7 to USD$10. The floor seems to have risen. Investors with a long term market strategy can still get in when the price corrects itself by about 60% and hits the blue region which is the Optimal Trade Entry (OTE) region. The strong community support in China makes NEO’s potential growth more prominent in the future.

  • Market Cap: $546,390,000
  • Price: $10.93
  • OTE: 0.00322591-0.00331973 BTC
  • Volume(24h): $46,520,400
  • Circulating Supply: 50,000,000

8: Comments:

NEO rebranding led to increased prices. USD $10 seems to be the new floor for NEO. Early investors, who had invested in AntShares weeks ago when we had rolled out our analysis, have started realizing portfolio growth at the moment. Investors who want to start today by investing in NEO will have to buy and hold for quite some time to see growth in their portfolio.

Stay tuned for our next article which will emphasize on NEO’s GAS.

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