NEO Price Prediction for 2019

NEO Price Prediction for 2019

NEO as the Chinese Ethereum, NEO is a blockchain platform and cryptocurrency that is designed to build a scalable network of decentralized applications. NEO was launched in February of 2014 as AntShares. Last year the NEO price suffered as a result of a decline in interest from investors coupled with the crypto market meltdown. A NEO price prediction for 2019 takes in both the coin’s fundamentals, news, and macro market report."NEO Price Prediction for 2019"

NEO Price Prediction for 2019

NEO saw it's market cap drop from number eleven to number seventeen on the crypto charts. The coin is currently trading at $11 with a market cap of $725 million. We have covered the NEO price rise to $20 previously, but it’s since fallen: a sign perhaps of the lack of some promise in its upcoming projects. The NEO price prediction will show whether the coin could return to that price.

However, despite the dwindling fortunes, the crypto-coin could be on the rise again following some positive developments. Below we will have a look at three reasons why NEO price could peak soon.

NEO 3.0: Upcoming Network Upgrades

A NEO price rise is based on the possible benefit from the upcoming network upgrade that will see the launch of NEO 3.0. The new Upcoming protocol will help the platform scale sufficiently and build a fully integrated digital economy. According to Da Hongfei and Erik Zhang who are both the founders of the NEO platform, they hope to make the protocol the number one blockchain in 2020.

The NEO 3.0 upgrade will help the project create a decentralized platform that will be able to support large scale commercial applications. The Team focus will be put on reliability, increase on the storage capabilities and increased transaction per second output.

Precisely, the new upgrade that will be added on NEO 3.0 include:

1.    Native contracts which will be a new type of smart contracts that will run code directly instead of using the NEO virtual machine directly. Both NEO coin and Gas coin will exist as native contracts in NEO 3.0.

2.    The online resource access that will allow users to access internet resources using smart contracts.

3.    There will be an improvement in NEO dBFT consensus mechanism.

4.    There will be having permission and a manifest system where smart contracts will be classified to facilitate efficient communication between them.

5.    Development of the NeoFS token, a proposal that seeks to build a distributed storage network that will be complete with its own economic incentives.

Plans Of Global NEOAdoption And Impact On NEO Price Prediction Assumptions
Even though NEO coin already has a firm footing on China’s ballooning decentralized economy, the platform doesn’t seem to be planning to rest soon. The NEO project is pushing forward with global expansion plans. It’s wooing governments and worldwide individuals with the notion of its smart economy.

The NEO project is already organizing hackathons, conferences, presentations, and meetups. These development efforts aim to escalate the blockchain’s global expansion.

In April, the NEO team toured European countries for the second time this Year. The group passed through Austria, Lisbon, Madrid, Paris, Zurich, Amsterdam, and Vienna. Also, they stop at Brussels where the NEO founder Da Hongfei, addressed the European Parliament on the benefits of the blockchain technology.

In its quest for global domination of Cryptocurrency, the team has also toured South America. In May 2018, the group visited Brazil presumably aiming to plant roots in what promises to be the next frontier for blockchain technology.

The NEO Ecosystem Is Growing

Recently the NEO Global Development (NGD) team announced that it had new updates for the NEO platform. The two upgrades come in the shape of two new NEO tokens; CNEO and CGAS. The C stands for a contract. It implies the tokens will be specifically used for smart contracts in Blockchain technology. The $20 in our NEO price rise takes the action of these coins into account.

The value of the two new tokens CNEO and CGAS are pegged in value to NEO and GAS, and they can be exchanged for both at their market rates. According to the blog post, the additions have come out of necessity. An increasing number of dApps on the NEO platform has led to the need for a more diverse set of asset types.

“In response to requests made by the community, NGD has developed CNEO and CGAS, two contract assets that correspondingly map NEO and GAS, two global assets, to NEP-5 smart contract equivalents.”

In their current position, NEO and GAS cannot be easily utilized by smart contracts. for this reason that has led to the need to convert them to NEP-5 equivalents.

usually, new tokens fail to garner recognition by the wider cryptocurrency community. It can lead to not getting listed on exchanges, and it’s the main reason why the team has pegged both to the existing digital assets.

“Whenever any project issues a NEP-5 token for that contract, the community might not recognize its token or exchanges are not willing to list it for circulation. As such, it is costly for the project. The community then recommended to the NGD team to issue a NEP-5 asset pegged to NEO/GAS.”

Want to learn more? You can see our coverage of the top NEO projects here.

As seen above article, the usability of the NEO blockchain is on the rise. It’s something that we can expect to push the NEO Price higher very soon.

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