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After Taking TRON’s Position, NEO has no Stop

Cryptocurrency NEO Hype

Its a very welcoming morning for crypto-enthusiasts this beautiful Sunday. All coins are in the green as they are approaching breaking point levels. Similar to Bitcoin going for the $7,000 level as it is trading at $6,827.80, all coins going to test important marks. Accordingly, NEO has the highest gain in the last 24-hours with 7.67% with a hype surrounding the platform since it overtook TRON’s position.

NEO price movement

source: coinmarketcap

NEO Success

As many of you already know, NEO is a cryptocurrency that has been around for a while now. It was created on a blockchain that was designed to build a scalable network for smart contracts, dApps, and similar projects. Originally, known as AntShares but rebranded to NEO in 2017, with the intention to have a new beginning.

This is a cryptocurrency with a lot of potentials, and even China recognizes its might. This is important to note, considering that China is not really crypto-friendly most of the time.

Chinese Ethereum Price

source: coinmarketcap

It is not long since NEO took the 11th position from TRON (TRX) with a market capitalization of $2.61 bln. TRON is at $2.49 bln per time of writing.

it has been only three days since we reported on NEO’s price reverse on its network decentralization start. Positive reflection has been met with the community since then on a daily basis. This is a result of the election of a City of Zion consensus node into the NEO MainNetwork. The event has been named as the decentralization of its blockchain network. To have it clear, the above mentioned City of Zion are an independent group made of translators, designers and developers with a global reach that have teamed up to back up NEO core and the network as a total.

According to the roadmap, the other ones are set for the end of 2018 to enter election. They are hosted by: KPN and Fenbushi Capital with NEL and NEO.

Founder of NEO – Da Hongfei:

“We have to be very careful with decentralization of the consensus nodes, because the protocol of NEO is evolving very fast. We need those consensus nodes to act very quickly to upgrade, and if there is a bug or a security issue, we need them to respond very quickly. So we’re doing the decentralization process slowly, gradually and very carefully.”

Alex Tomzack
About author

Alex Tomzack is a crypto-enthusiast and has been fascinated since first hearing about it. Loves technology, writing, culture while being a regular trader and holder of digital assets. Email: [email protected]