Neo price prediction 2021
Unlike most other cryptocurrencies NEO is based on the delegated Byzantine Proof-Of-Stake concept, as opposed to traditional proof-of-stake or proof-of-work. They are then rewarded with Bitcoin. Unlike Bitcoin, NEO users are rewarded based on the number of coins they possess rather than by using their computers to solve transactions. Each time a new block is created, users are rewarded with neoGAS. This will continue happening until GAS reaches its market cap of million coins. A new block is generated every seconds and 2 million blocks are generated in around a year.
At this speed, the total limit of million GAS will be reached in around 22 years. It should be noted that in order for traders to receive GAS their NEO has to be held in a personal wallet and not in an exchange. If you see a fall in the price of Bitcoin then you should expect to see NEO and other altcoins take a hit as traders panic and attempt to sell off their assets before they make a loss. Like most cryptocurrencies, NEO is fairly volatile. You should expect to see some dramatic ups and downs.
Why NEO Can Do What No Other Cryptocurrency Can Do
NEO is also heavily driven by media attention. When NEO then known as Antshares first hit Western headlines there was only a single broker, Bittrex, to purchase the altcoin from. This led to a rush to buy it and the price was driven through the roof. Any price rise driven by headlines tend to go through a period of correction as traders engage in profit-taking and the value of the token slips. This means that the currency is more strongly influenced by news from that region.
If you are interested in trading in NEO you will need to keep an eye on developments in China and any incoming regulations from the Chinese government. If NEO does ever partner with the Chinese authorities you should expect to see a large spike in value. In the case of NEO, it is because they have openly stated their willingness to work with the authorities.
This may make the Chinese government look more sympathetically at their cause. The key drivers for NEO will be the state of the market in China and any regulations in that region. Particularly whether Chinese businesses start adopting NEO as their standard blockchain solution.
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Neo price prediction 2021: what’s next for the ‘Chinese Ethereum’
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China’s national blockchain network embraces global developers
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