The Crypto Times
Image default
Application Blockchain News

AntShares, now NEO, Rises to Top 10 Cryptocurrency

NEO, the cryptocurrency previously known as AntShares, made news this week when it went from being a top 15 cryptocurrency to a top 10 cryptocurrency by market cap.

The Rise of NEO

NEO is most generally referred to as the “Ethereum of China.” According to the company, however, a more adept description of their project is “China’s public Blockchain.

The value of the token rose from below $10 to over $20 since August 3rd. It’s market cap rose more than $900 million. This platform is similar to Ethereum’s but with a few advantages and a different mission.

Removing Barriers to Entry

The NEO platform provides a wide range of languages for its compiler, including Python and Go. More importantly, the NEO contract runs through a Virtual Machine and supports commonly used programming languages like C# and Java. This presents a major advantage over Ethereum.

Real World Integration

The projects mission is to create an entire smart economy. Within the platform there are digital assets, smart contracts, and a digital identity for use in real-world applications in the global economy.

The platform is in a spot similar to Ethereum’s in early 2017, both value wise and launch phase wise. Its product is fully operational but does a few things differently. This includes the execution of C# code which attracts more developers and adds flexibility.

As we saw this year with Ethereum, when initial coin offerings (ICOs) launch on a platform the token thats hosting them increases in value substantially. For this reason NEO is also prepared to run ICOs on its platform.

If NEO is able to integrate physical assets and involve the Chinese government its value will grow dramatically.

Related posts

Google and PayPal Exec Set to Join Digital Platform Bakkt

Viena Abdon

Auditing Firm KPMG Establishes Four Skills Essential for a Blockchain Career

Viena Abdon

US SEC Garners Criticism From Libertarian Think Tank Over Its Ideas on Cryptocurrency Regulation

Viena Abdon

Analytics Company Reports that Crypto Primarily Used for Privacy, Only 8% Linked to Illegal Activities

Viena Abdon

MakerDao Launches Series of Governance Polls to Address Alleged Security Loophole

Viena Abdon

Megabank ING Proposed Privacy and Security Solutions for Corda System

Viena Abdon

Leave a Comment