NEO is becoming popular in 2017 and according to eToro, in terms of market capitalization, this coin has peaked at $ 187.41 on January 15, 2018. NEO is often regarded as China's pioneering cryptocurrency which makes it mainstream. Currently, according to coinmarketcap.com, NEO is positioned at number 14. The price of NEO at the time of writing shows around $ 19.55 while the market capitalization is around $ 1,270,904,168. Volume (24 hours) more than $ 90,766,127. (As of September 1, 2018) the current price may not be enough to convince someone to invest in NEO now, but ranked 14th can be said that this coin has become one of the top ranked cryptocurrency, and it has become a coin worth investing.
Unlike most cryptocurrency, the NEO blockchain is not decentralized and thus can never branch out. Da Hongfei, the creator of NEO, developed the platform by maintaining Chinese cryptocurrency regulations. The methodology allows network coding to be improved and modified without going through the user consensus process. According to the official NEO website, "NEO is a non-profit, community-based blockchain project that uses blockchain and digital identity technology to digitize assets, to automate the management of digital assets using intelligent contracts, and to realize 'smart economics' with distributed networks. "
According to the April monthly report published by the NEO development team, New Economy Labs (NEL), the team has completed the address details page, the NEP-5 details page, and UTXO paging. The NEL web wallet also experienced several changes to holding NEO assets. Another development is that the NEODUN hardware wallet firmware interface and main stream function have been completed. Users will be able to import private keys through secure channels.
According to company figures, in the first week of Switcheo's launch, trading volume reached over $ 2 million. In fact, exchanges have moved to the top 5 Decentralization Exchange (DEX) after Ethfinex, Idea, and Cobinhood. At the end of April, it was also made to the coinmarketcap.com exchange list. In addition to the ERX20 token, Switcheo platform users can make transactions with tokens 20 NEP-5. These include NEO, Switcheo Tokens (SWH), GAS, TheKey (TKY), Bridge Protocol (IAM), Red Pulse (RPX), DeepBrainChain (DBC), and Trinity (TNC).
Version 2 of the Switcheo Public Beta exchange can be accessed at TestNet NEO now. Users must have a wallet for testing purposes that can be made with NEOTracker or Neon Wallet to use the platform. After creating a wallet, users can go to the Beta exchange and then switch from MainNet to TestNet. They will receive TestNet tokens for testing purposes.
According to Switcheo's announcement, ETA for MainNet is scheduled to be released on May 18, 2018. A list of additional tokens is also expected to be released on the stock that day. Switcheo is expected to freeze trading shortly before the second MainNet release. However, users will be able to withdraw valid bids and tokens and divert them to new smart contracts. One can expect more announcements about this so that the user does not suffer from interference when trading. Currently, Switcheo has collaborated in two air drops campaigns - Travala.com and SpotCoin. According to the team, Switcheo will focus on improving the mobile user experience and testing new trading systems in the next few weeks.
Investing in NEO will add a variety of trader / investor portfolios because the NEO platform can act differently from other large crypto coins. The NEO feature shows real-world applications from blockchain technology. It should also be considered that the NEO blockchain has been designed to work in conjunction with Chinese regulations (considering the ban related to cryptocurrency in China last year). Because China has acted heavily on Bitcoin and currency exchange, NEO-cryptocurrency following Chinese regulations can be a good choice for traders who have been away since the ban.
This article is made based on personal views, regarding investment it would be better to analyze it first. Each type of investment must have a risk and the author is not responsible for any potential and losses incurred.