Here’s how much NEO rose in one year

September 30, 2021 02:19 PM AEST | By Akanksha Vashisht

NEO’s Chinese roots

Founded in 2014 by Da HongFei and Erik Zhang, NEO shares many similarities with the world’s second-largest crypto, Ethereum. Both these crypto platforms use smart contracts to remove the middlemen in various types of transactions. Since it was the first China-based blockchain platform, NEO is also sometimes known as the Ethereum of China.

Over the past one year, NEO coin has risen by about 111%, with its value reaching a peak at US$122 in May 2021. The coin was priced at around US$18 during late September 2020 and has risen to a value of about US$38. This means that your US$100 a year ago would have equalled US$211 today, had you invested them in NEO!

NEO smart ecosystem and its stellar features

Given the popularity of NEO’s Smart Economy, users must know what the platform offers. According to NEO, the Smart Economy comprises three components, Digital Assets, Digital Identity and Smart Contracts.

NEO offers a Smart Ecosystem for secure and unregulated transactions.

These features allow NEO to support currencies beyond its native coins, NEO and GAS. Thus, NEO is very much similar to the Ethereum platform where decentralised programs and applications can be built.

Additionally, any asset can be digitised on the NEO blockchain in an open and trustworthy manner using the platform’s decentralised functionality. The removal of intermediaries or a single body of control from crypto transactions has been the star feature of new age cryptocurrency platforms like NEO and Ethereum.

Though a regulatory figure is absent from the picture, all digital assets on NEO have a valid digital identity and are protected by law. The digital identity feature enables the verification of crucial information about the participants of a transaction. Moreover, all transactions are traceable and irreversible. Smart contracts allow this decentralisation to occur in a manner that is transparent and secure for the users.

Bottom Line

NEO stands as a unique digital tool in the Chinese ecosystem where all cryptocurrency transactions have been recently banned. Only time will tell how NEO will navigate through China’s stringent measures against cryptos.

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