What Is Neo (NEO)?
Ever since its launch in 2014, it seems that the NEO coin has never stopped developing. The platform recently released N3, which adds many new features to the network. Keep reading to learn more about Neo and why it’s an attractive choice for investors!
NEO was launched in 2014 under the name AntShares. It was in 2017 that the platform implemented smart contracts and its current name. Erik Zhang and Da Hongfei launched Neo in China, which made them the pioneers of public smart contract networks in the country. This network was also the first to implement a dual coin system.
The project’s main goal is to implement a Smart Economy System. Neo crypto offers asset digitalization without huge costs or intermediaries through smart contracts.
The main reason why NEO price often goes up is the dedication to innovation. Even if a sudden demand occurs, the network can handle it. That shows investors they don’t have to worry about the project’s future.
Neo Price History
We’ll focus on analyzing the NEO price chart from the time of rebranding this currency in 2017. If you were to exchange NEO to USD back then, you’d receive around $0.48. However, it didn’t take much time for the currency to go through a huge value jump. And we are really talking huge because the price went up to $196.85 in January 2018.
NEO price chart history shows that at the beginning of 2018 the currency managed to keep its value over $100 for several months. It then stabilized at around $8 by the end of 2018. The next year showed almost no movement, while 2020 brought steady growth. In 2020, the value of the NEO coin varied from $10 to $20.
At the end of 2020, the coin had a value of approximately $15. If we compare that to its launch on the market, we can see that its value increased 30 times during the three-year span. So, if you had invested $10 in NEO, you could now earn over $300. The future also seems to be exciting for this coin, although it’s hard to make any long-term predictions for crypto.
Circulation of Neo
The Neo platform uses two coins. The first one is NEO. There is a total of 100 million tokens available in circulation, which is the maximum possible amount. Neo coin gives you the right to vote as a part of the network government. It also allows claiming GAS, the other platform’s currency.
You use GAS to store and operate smart contracts and tokens. Each block generates five GAS tokens. They are split among the NEO council (10%), all token holders (10%), and successful voters (80%).
It’s worth noting there is no mining of these currencies. You can convert NEO to other cryptos, but this coin is indivisible. Its minimum amount is one, and there’s no option for further splitting.
Ways to Get NEO
Are you wondering how to buy NEO crypto? You can use the same ways as for other cryptos:
- Exchange other cryptos for NEO
- Buy NEO online with fiat currencies
- Conduct peer-to-peer purchases.
If you need a platform to exchange NEO to other currencies, you can’t go wrong with Godex. The NEO converter will show you the current rates, and they will remain the same regardless of transaction size.