NEO came into prominence in 2017 and according to eToro, in terms of market capitalization, the coin had hit a peak of $187.41 on 15th January 2018. NEO is often considered to be the pioneering Chinese cryptocurrency that made it to the mainstream. Currently, according to coinmarketcap.com, NEO is positioned at number 11. The price of NEO at the time of writing shows approximately $64.00 USD while the market cap is approximately $4,160,110,500 USD. The volume (24h) is nearly $111,618,000 USD. (As of 14th May 2018) The current price action may not be enough to convince someone to invest in NEO now but the 11th rank should say that being one of the top-ranking cryptocurrencies it is worth investing in.
Unlike most of the cryptocurrencies, the NEO blockchain is not decentralized and thus can never be forked. Da Hongfei, the creator of NEO developed the platform by maintaining the Chinese cryptocurrency regulations. Its coding methodology allows the network to be upgraded and changed without going through the user consensus process. According to the official website of NEO, “NEO is a non-profit, community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a ‘smart economy’ with a distributed network.”
According to the monthly report of April published by the NEO development team, New Economy Labs (NEL), the team had completed the address details page, NEP-5 details page, and the UTXO paging. The web wallet of NEL had also undergone some changes for holding NEO assets. Another development is that the NEODUN hardware wallet firmware interface and the main flow functions have been completed. The users will be able to import private keys through secure channels.
Improvements in Switcheo, the first decentralized cryptocurrency exchange on NEO
According to the company figures, within the first week of launching Switcheo, the trading volume went above $2 million. In fact, the exchange has moved to the top 5 Decentralized…