What is Neo?
Neo is a smart contract platform, much like Ethereum. It’s often dubbed as the Chinese Ethereum, but it’s more versatile than its main competitor. While Ethereum only supports Solidity as their programming language, Neo is on track to support multiple languages – also Python and C++. Companies can launch ICO’s and build dapps (decentralized apps) on Neo, just like they can on Ethereum. The goal for Neo is to build a smart economy.
Neo saw its price surge 8x in August, but a quick crash brought it back to earth after China cracked down on ICO’s. Soon after that, the Chinese government decided to close down Chinese crypto exchanges, which took the air right off Neo’s balloon.
But we’re here to tell you – things are looking up. While the situation in China is as volatile as ever, Neo is in a prime position to benefit when China eventually regulates the crypto market. Their ban on ICO’s (or exchanges) isn’t something that is going to last forever, and the regulations should only work in Neo’s favor in the long term. CEO Da Hongfei has been working with the Chinese government for some time through OnChain, and it’s safe to say Neo is in pole position to benefit when China does regulate the ICO market.
However, we should not think there isn’t any risk. It is China we’re talking about here. They might come up with their own, closed solution to this market as well, as a communist country could do. But Neo is in such an advanced stage, that China might think it’s better off coming to a solution with Neo.
The backbone for any blockchain project is their community. For Neo, the community is very strong and growing by the day. On Reddit, Neo boasts the third biggest community after Bitcoin and Ethereum, with nearly 30 000 subscribers to their subreddit. Over on Facebook, they started a Neo group only a few months ago, and already the group has over 27 000 members. In Slack, the number is 6 500. These are some fine figures.
Why Should You Care?
The expected value is massive here. While the situation in China can go either way (Neo may get a permit to offer ICO’s in China, or it may not), the upside is gigantic. Also, ICO’s aren’t the only thing you can do on Neo. If everything fails in China, Neo has become a global platform with a first ICO already on its way. Red Pulse is doing its ICO on Neo, but for obvious reasons they have had to cut China and USA off the token distribution. We consider this as a test run for Neo ICO’s – and if everything goes well, others may choose Neo over Ethereum, as Ethereum has shown scalability issues during the recent ICO boom.
Dividends Through GAS
Neo also distributes GAS to its holders. Currently GAS is trading at nearly 100% price of Neo at $23. You generate GAS by holding Neo in your Neo wallet. The Neo smart contracts run on GAS, so you don’t have to cannibalize yourself like you have to do when dealing with Ethereum. When you need to use the platform, you use GAS instead of Neo. With current calculations, the dividends over a year with GAS are about 7-8% for the Neo you hold.
The price is already on the rise right now, but you can still hop on board cheaply for $25 per Neo. It’s only half-way from it’s all-time high, which was $51 just two months ago. We’re not saying it’s a sure deal by any means, but this thing can go full Ethereum. Wouldn’t you have liked being on board with Ethereum early 2017? We sure would have. With Neo, we like the odds.
Gamble.io’s Neo price prediction by June 30th 2018: $195