NEO Now 16th in Market Cap With Another 7% Price Rise, DevCon in February

Siamak Masnavi

The price of the NEO token, which is the base asset of the NEO blockchain (also known as "Chinese Ethereum"), has gone up another 7% to $9.71 in the past 24-hour period, powering NEO past both NEM (XEM) and Ethereum Classic (ETH) in the market cap table, thereby making it the 16th most valuable cryptocurrency. 

In fact, what is even more impressive is that, according to CryptoCompare, as can be seen in the chart below, the NEO price has gone up around 53% in the last 30 days, from $6.34 (10 December 2018, 09:00 UTC) to $9.71 (9 January 2019, 09:00 UTC), making it one of the best performing cryptocurrencies over this period:

NEO - 30 Days - 9 Jan 2019.png

One possible reason for NEO's strong price action over the past few weeks is the excitement in the NEO community over the upcoming annual developer conference, "NEO DevCon 2019", which is being held February 16–17 in Seattle, United States. At this conference, NEO's founders are expected to share "new roadmap and platform innovations, and showcase how the global NEO blockchain community is bringing the Smart Economy vision to life."

Another partial explanation might be that on Monday (January 7th), NEO's official Twitter account announced that according to "the latest yearly ranking released by China’s Center for Information and Industry Development (CCID), which is under the country’s Ministry of Industry and Information Technology," NEO was listed as a Top 10 Public Blockchain:

 Yet another reason might be the tweets sent out on January 3rd by Erik Zhang, founder and core developer of NEO, about the planned upgrade to NEO's consensus algorithm "Delegated Byzantine Fault Tolerance" (dBFT):

As for what else NEO HODLers can look forward to in 2019, here is a nice list presented by user "Edgegasm" in the thread "Next milestone?" in the "/r/NEO" subreddit:

"Based on current discussions/developments/announcements, we should expect to see the following in 2019 at minimum:

  • Decentralization of remaining consensus nodes that are currently operated by NEO (at least 4 of the 5, they should probably keep one)
  • Node stability improvements (will improve TPS)
  • Node recovery system (let a node rejoin consensus automatically in the event of a disconnect)
  • Third consensus phase (commit phase, to prevent 'sporks')
  • Light wallet voting implementations (likely in Neon first)
  • NeoFS candidate beta (NEO SPCC's DDSP).

Other possibilities for this year (speculation):

  • Network analytics
  • Additional nodes added in batches of 3 (taking us to 10, 13 etc)
  • Other performance improvements (for scalability)
  • Block explorer improvements (neo-scan)
  • NeoID and NeoX details (maybe not ready for release, but it's not beyond reason either)"

Featured Image Courtesy of NEO Team

Weekly Newsletter

Amazon Could Pull off Launching Libra, ‘Bitcoin Billionaires’ Author Argues

Ben Mezrich, the author of the “Bitcoin Billionaires” book, has argued that Amazon would be better than Facebook to launch the Libra cryptocurrency, as it’s more trusted than the social media giant.

Speaking on CNBC’s “Squawk Box,” Mezrich argued the project is “all about trust” as there “can’t be a new currency without people trusting it if you’re going to sit in the middle of it, and people don’t trust Facebook.”

The author, who also wrote “Accidental Billionaires,” a book that served as the bases to the movie “The Social Network,” argued it would make more sense for Amazon to be leading its own cryptocurrency project. He was quoted as saying:

I think that Amazon could pull this off because for whatever reason we all trust Amazon. We put our credit cards in there everyday.

Facebook has announced last month that it’s developing its own cryptocurrency, and that’ll it be launched next year. The cryptocurrency, Libra, is set to be backed by a basket of fiat currencies and U.S. Treasury securities.

The cryptocurrency itself will be managed by the Libra Association, a nonprofit based in Switzerland with various large companies represented in it. As covered, U.S. Congressman Warren Davidson recently implied the Libra is a shitcoin because it has a central entity behind it, unlike decentralized cryptos like bitcoin.

This month David Marcus, the head of Facebook’s team working on Libra, testified before Congress for two days, and received requests to halt the project until the government can look into it and regulate it. Marcus had to answer various tough questions during the hearings, including whether he would accept his salary in Libra.

Speaking to CNBC Mezrich noted he believes Amazon would be subject to less scrutiny than Facebook. Per his words regulators would be on top of Amazon’s plans, but “it wouldn’t be like this.”

The author added that Libra won’t be a true cryptocurrency because it’ll involve financial mediators. It could, he said, serve as an “on ramp” to bitcoin, helping those unfamiliar with the cryptocurrency ecosystem look into the flagship cryptocurrency.