Neo is a rapidly growing and developing ecosystem that has the goal of becoming the foundation for the next generation of the internet and a new economy where digitized payments, identities and assets come together.
Initially known as Antshares, this project is China’s first-ever public blockchain. The open-source platform subsequently rebranded to Neo three years later. As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operate an EcoBoost initiative that’s designed to encourage people to build decentralized apps and smart contracts on its blockchain. It’s often been likened to the Chinese version of the Ethereum network. This has led to a rapid increase in NEO price.
N3 is the latest version of the Neo blockchain. N3 improves on previous versions by offering an improved development experience. It boasts more powerful and complete features, a highly modular architecture, and an enhanced governance and economic model. It offers everything the hobbyist developer needs to build their first dApp, through to the power and scalability required by enterprise applications.
Due to the extent of improvements found in version N3, certain features are not backwards compatible with the existing Neo Legacy blockchain. This means that Neo’s N3 upgrade will be implemented through a new genesis block. The Neo blockchain running N3 will coexist alongside the current Neo Legacy blockchain for an extended period of time. This will provide users with ample opportunity to migrate their tokens and applications to the new chain.
Let us review NEO Price
NEO Price Prediction
NEO is currently trading above the support of $31.35. If it can stay above this support, we could start seeing a move towards $37.62, $47.73, $53.27, $70.06, $83.64, $97.21, $116.54 and $141.16. Failure to hold $31.35 could lead to a drop towards $25.77.
Join us on Telegram to receive free trading signals.
For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.
Images courtesy of TradingView.
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.