Total Marketcap: $ 111,111,111
Change 24h: 22,222,222,222
Volume 24h: 3,333,333
Bitcoin dominance: 44 %
Crypto Info, Price, Review and Analysis
NEO - NEO logo high resolution


Chinese platform for smart contracts

NEO Price 1 Year
$ 20.94753
-49.79 %
Market Cap: $ 40 M

5 Years

1 Year

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NEO Explained

Introduction to NEO

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What problem does NEO solve?

Name: NEO

Symbol: NEO

While many cryptocurrencies are facing imposed bans in different countries due to their decentralized and unregulated nature, NEO has the potential to emerge as a mainstream cryptocurrency for environments that only allow regulated currencies. NEO Onchain technology is designed to be regulator-friendly and unlike other cryptocurrencies, it adopts a centralized approach.

NEO’s goal is to provide a platform where corporations can develop and implement their decentralized apps. Their main focus, for now, is to capture the Chinese market. NEO is itself a technology of a Chinese company Onchain, where it serves as the foundation of the Decentralised Network Architecture System of the company (NEO, 2018).

Aimstone: NEO Cryptocurrency - ( Explained Simply )

What is NEO

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What does the cryptocurrency NEO actually do?

The actual platform that NEO has developed is already in the working phase and is functioning. Decentralized applications can be built on the platform. The company claims that the NEO network can handle up to 10,000 transactions per second. However, this high transaction speed is achieved at the expense of decreased decentralization. Onchain controls seven consensus nodes and therefore themselves controls the blockchain traffic.

The platform supports the use of C++, Java, Python and Go as programming languages for the development of decentralized apps. However, these languages are not limited by the design of the network in any way and may become a reason for the injection of malicious code on to the network (NEO, 2018).

Who is behind NEO

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What team is working to make NEO successful?

Keyword: ,Neo,Blockchain,智能经济,区块链

NEO is developed by Onchain which is a Chinese company. It was developed originally as Antshares in 2014 but was later on rebranded and changed to NEO in 2017. The founders of Onchain are Da HongFei and Erik Zhang (Zhou, 2017).

The main lead of the development team is Eric Zhang who is working tirelessly to improve the existing algorithms and protocols of the network. However, there is not much information regarding other team members.

NEO Development

NEO Code Progress Analysis

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How did much the NEO developers work on their coin over the last year?

The GitHub repository of NEO Onchain is impressively active and productive. The repository showcases a lot of updates and active participation by all the developers. The main developer is Erik Zhang, who is currently working hard to upgrade the consensus algorithm dbft2. The algorithm is supposed to block any attempted forks on the NEO network. It is important to note that the development team of NEO is not really big, and they are still trying to make things work.

NEO Community

NEO Public Interest

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How many people did search on Google for NEO indicates how many new people first heard from NEO

Search Engine:

Region: Worldwide

Searchterm: NEO

Peak Popularity: 12. July 2021

NEO will likely make a name in the Chinese market more than any cryptocurrencies and will become the first choice for decentralized applications, especially those built by companies operating in countries that require cryptocurrency regulation, like China. The rest of the world might continue using platforms like Ethereum which offer a more decentralized network and a more secure network.

The flagship project that Onchain is working on is NEO 3.0. According to the plans, the upgraded version is planned to be released by the end of December 2019. The updated version of the NEO network will provide better support for larger-scale commercial applications. The NEO network will become more scalable and secure, as there are plans to centralize the network even more.

NEO possesses promising potential. Even though the network is centralized, there might still be companies or partnerships that would want to build their decentralized applications on the NEO network. This can increase the popularity of the NEO network and promote it to become the user’s choice over smart contract platforms.

Google Trends is a tool that shows how many people search for a specific search keyword worldwide compared to its peak. The more people search for NEO on google, the higher the Google Trends curve rises. The Google Trends search data is based on the search keyword NEO NEO had its peak interrest 1 ago. At that time, more people searched for NEO than anytime this year. The interrest of newcomers for NEO seems to be tumbling, which is below-average!

NEO Sentiment Analysis

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How positive/negative are people on different crypto-related subreddits talking about NEO

Based on:

Positive/Negative Posts Ratio: 205:1

There is a claim that the Chinese government supports the Blockchain Company Onchain, and therefore its blockchain technology NEO (See, 2017). However, it is hard to decide if one should be excited or worried about this development. The Chinese government is notorious for seizing money from their citizens and is therefore not completely a big plus for the company. An example like this can be found from the likes of Baoshang Bank Co, where the government assumed control of all its resources and assets in May 2019 (Bloomberg News, 2019).

Usually, cryptocurrencies are based on such blockchain technologies which feature complete or partial decentralization. However, NEO stands out in this aspect. It used a mining algorithm named as “delegated byzantine fault-tolerant” which uses consensus nodes to distribute the voting power. The company Onchain holds seven of such nodes, keeping the control of the network with them and making NEO a centralized cryptocurrency. Users are critical of this point, as Onchian can seize their funds if the Chinese government tells them to do so (Manoppo, 2018).

NEO Foundation has recently unlocked the NEO token worth $100 million in May 2019. The revenues generated from these new tokens are planned to be used for further development of the technology. However, this amount of NEO tokens could be damaging if they are released into the market all at once, as it might result in immediate inflation (G., 2019).

In March 2019 the Neo Blockchain was down for over 2 hours, as block 3467252 took 127 minutes. This can happen with a single point of failure, as the foundation is controlling 7 consensus nodes themselves.

Sentiment Analysis uses Machine Learning to analyze whether a post on reddit is written with joy or anger. The more excited people are about a project, the more positive posts there are on reddit. If a project behaves scammy, negative posts dominate. A good indicator is the positive-to-negative post ratio. For every 205 positive post about NEO, there are 1 negative posts, which is a superb ratio. A recent post mentioning NEO with a lot of positive feedback was posted in r/CryptoCurrencyTrading by u/DeepAlgorithm: Loopring: Why it should be on your watchlist.

NEO Enthusiasts Analysis

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How did the community of enthusiasts that follow NEO closely develop over the last year?

The Neo community is quite large in China, but lately, there have been numerous complaints of fraudulent behaviour as false announcements about partnerships with large known companies are made and spread by the Neo community.

The community also actively participates in the development of the NEO network. There are many independent developers that are creating new libraries for the NEO smart contracts.

NEO Price Analysis

NEO Price Overview

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Key price metrics such as All-Time-High (ATH) and Market-Cap of NEO

Rank: 60

Price: $ 20.94753

Volume (24h): $ 40 M

The Chinese support towards the NEO blockchain seems to be of great importance, but in fact, it has some deeply rooted concerns. This means that Onchain might sometime in future be working for the Chinese government and under their directives, which implies that they might at some point be in control or seize user funds.

Still on the news concerning NEO’s partnership, it was rumoured that has partnered with the NEO network. However, a little research into the news revealed that this was not true.

NEO has partnered with the largest telecom company from the Netherlands. They have been given the control of one consensus node of the NEO network. This will improve the decentralization of the NEO network (Muller, 2018).

The most notable and perhaps the most powerful alternative to the NEO blockchain is Ethereum, mainly because most of the decentralized apps are being built on top of the Ethereum network. The major drawback Ethereum network faces in terms of usage is that the programmer first needs to get accustomed to the ‘Solidity’ programming language. NEO platform, on the other hand, allows the developers to use C++, Java, Python and Go which are far more common languages. This might take NEO’s popularity ahead of Ethereum.

NEO had its all-time-high (ATH) at 15. January 2018 at a price of $ 196.8530. Today, NEO is traded for $ 20.94753, which is a -89.36 % drop from the previous ATH. If you had bought NEO 1 year ago, you would have made a loss of 49.79 %. Going even more back, if you had bought NEO 5 Years ago (or at the first possible chance), you would have made a gain of 18,276.48 %.