NEO has been crushing it lately, outpacing Litecoin and Dash in terms of growth and quickly pushing toward the top of the capitalization charts. Dubbed the “Chinese Ethereum,” NEO is almost entirely new to veteran Bitcoin and other cryptocurrency traders.
Trading at just under $20 on August 9th, not even a week later we’re dealing with almost a $50 base token for the platform. These things don’t happen in a vacuum – so let’s see what kind of mainstream press coverage they’ve been getting lately.
- Co-Founder Interview
NEO Co-Founder Da Hongfei gave an interview to Forbes magazine last week in which he can be quoted as saying:
NEO developers can write smart contract code in .NET and Java/Kotlinm, and we are currently testing integration with Go, JS, and Python for a rollout in the future. This will allow a great number of developers globally to build smart contracts on NEO.
The ability to author actual smart contracts in alternative languages is definitely a feature of NEO that Ethereum and other smart contract platforms perhaps don’t have. Approaching smart contracts from a language agnostic standpoint means greater adoption is bound to ensue.
- NEO-based ICOs Happening
The High-Performance Blockchain ICO proposal is perhaps the first NEO-based ICO we’ve reviewed here at Hacked, but we certainly expect to see many more as the platform grows. Another, potentially much more lucrative and professional effort is the Red Pulse Token, which will be more of an answer to Western Ethereum-based ICOs than was HPB.
There is no doubt that the prevalence of interesting projects on the Ethereum blockchain are the primary and continuing contributor to the increase in the base value of the blockchain as a whole. Without smart contracts and tokens to pin to them, there is not much interesting about Ethereum. As such, ICOs have been crucial to its success, and we should expect that real success indicators for NEO, Ethereum Classic, and other implementations of smart contract-based chains will be in the performance and utility of the products built on top of them.
- NEO Development Community Growing
We were treated to the interesting website CityofZion.io this morning. Moreso than probably any other ambitious cryptocurrency project, this project promises to attract developers from the world over, even offering its own version of Github/Slack.
- Buzz Around Chinese Government Interest in Blockchain
We have seen reports that the Chinese government is actively seeking to use the blockchain in tax collection and other uses. NEO is well-positioned to serve any such needs, so this could be contributing to speculative buys.
At present, NEO is still reconciling itself in the western consciousness, but this analyst predicts a long and successful road ahead for the platform, barring large-scale scandals, security issues, or successful regulatory campaigning.
P. H. Madore
P. H. Madore lives in Arkansas with his wife and children. He has covered the cryptocurrency beat over the course of hundreds of articles for Hacked’s sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and is currently nearing the completion of a cryptocurrency exchange in concert with the firm he primarily works for, Vermont Secure Computing Consultancy.