Cryptocurrency NEO - online exchange rate of NEO to dollar and ruble

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*Data on the Percentage change in the rate and Trading Volume are indicated in the interval for the last 24 hours

NEO is a blockchain platform formerly known as AntShares, and a cryptocurrency of the same name, one of the world’s top digital currencies in popularity. Many call NEO the Chinese version of Ethereum, and indeed these systems have quite a lot in common. The main analogy is that the platform provides the ability to conclude smart contracts. And one of the strong advantages of NEO is its close cooperation with the Chinese authorities, which significantly reduces the risks of external pressure from regulators. In this regard, today NEO is under the close attention of many crypto market experts, and the NEO rate is monitored by most cryptanalysts.

NEO cryptocurrency

Many investors may be interested in a cryptocurrency such as NEO, which is also called “Chinese ether.” During the deep correction of 2022, which began in mid-January, this cryptocurrency actively resisted the downward movement of the market and tried to stably keep its rate at approximately the same level. While Bitcoin quickly began to fall down, rolling back to its previous value of $10,000.

cryptocurrency Neo. Comparison with Bitcoin

Of course, in the end, the NEO cryptocurrency, like all other digital assets, sank in price under the pressure of a downward trend, but we can clearly conclude that this Blockchain project has very strong support from developers and many large investors in the world, who simply did not allow the coin will plummet in price.

Also, NEO may seem like a very interesting project for investment for another reason that this asset was able to grow more than 200 times in 2022.

NEO exchange rate dynamics

In general, the NEO cryptocurrency is a rather interesting and highly profitable project with very serious support. This strong support allows the NEO rate, even during a market correction, to remain relatively stable and not fall rapidly downward.

In this regard, many users are sure to have many questions: “Is it worth buying NEO now? Will this cryptocurrency really be able to grow and bring investors the proper profit? What makes it different from all other digital assets on the market?”

This article will try to answer all these questions, which will talk about the large Chinese project NEO, its main idea, history of creation, development team and development prospects.

Neo (NEO) to ruble exchange rate

The rate is determined based on the exchanges on which NEO is traded. However, supply and demand are different on each exchange, so even prices on individual exchanges may vary slightly. You can also get the exchange rate of Neo against Euro (EUR) or Russian Ruble through a simple conversion.

The general price trend of Neo tends to follow what is called a boom and bust cycle. This is a model in which a period of growing excitement causes prices to spike before doubt and disappointment set in, leading to a crash.

NEO cryptocurrency rate

By going to the coinmarketcap website, you can see that as of July 2018, the NEO cryptocurrency was in 10th place. The capitalization of this Blockchain project is more than $2.5 billion, the price for one coin fluctuates around $41. The total issue of coins is only 100 million coins and currently there are about 65 million coins in free circulation on the market.

It is also worth noting that this asset is indeed a coin - a full-fledged cryptocurrency with its own unique Blockchain code. With all this, NEO cannot be mined.

What is NEO. dBFT Protocol Consensus

So, what is the NEO cryptocurrency? NEO at its core is a platform for creating a future decentralized economy . In general terms, this company can be described as a non-profit Blockchain project that develops a smart economy (in the sense that any assets are managed directly through smart contract technology).

It is also worth mentioning the consensus of the NEO protocol. It works not according to the familiar “Proof-of-Work” system, but according to the “Proof-of-Stake” principle. To be precise, on its modernized version, which is called dBFT (Delegated Byzantine Fault Tolerance).

This consensus protocol allows the NEO cryptocurrency to gain several important advantages. The main thing is that dBFT provides for the participation in the system of a number of delegates (they are called bookkeepers ), who are chosen directly by NEO coin holders.

The job of bookkeepers is to help the NEO system confirm transactions. It is worth saying that the identifiers of all bookkeepers are known and open to the entire NEO network, which does not give them a chance to commit any fraud.

To reach consensus, 66% of bookkeepers must agree and vote for the appropriate decision. Thanks to this approach, the NEO network works much faster and more efficiently than its competitors. The transaction speed of this network is truly impressive. The number of operations performed can reach up to 1000 per second, while for the Ethereum cryptocurrency this figure reaches only 30-40 per second.

Advantages of NEO

• Better Scalability: NeoFS Distributed Storage Protocol

The issue of scalability becomes an obstacle in blockchain technology. NeoFS is a decentralized cloud storage that uses distributed hash table technology. Large files are divided into fixed-size data blocks that are distributed and stored in different nodes. At the moment, the block generation speed is set manually to 15 seconds. With low latency between nodes in the future, most blocks will be generated every second. Ideally, the NEO blockchain is capable of processing thousands, if not tens of thousands, of transactions per second.

• Innovative dBFT Consensus Mechanism

Nodes use the virtualization of failure algorithm (dBFT) to achieve consensus and ensure the final transaction. It is guaranteed that the system maintains its completeness. This means that once completion is confirmed, the block cannot be forked and the transaction will not be reversed or rejected. Token holders participate in the election of the group that will interact under dBFT. These participants (individual or legal entity) are assigned the status of bookkeeper (accountant). They reach consensus and generate new blocks.

• Internet Interoperability Protocol - NeoX

This protocol allows multiple participants to exchange assets across different chains. Any chain must be compatible with NeoX if they are compatible with NeoContract.

• Quantum computer technology - NeoQS

The advent of quantum computers poses a major challenge to RSA and ECC based cryptographic mechanisms. By using lattice cryptography (a post-quantum cryptography technique), NeoQS can prevent the quantum crisis, as this method remains beyond the capabilities of quantum computers.

Issue of 2 types of tokens. Neo and Gas

Like the Ethereum network, NEO requires coins called Gas to confirm a transaction.

This type of token was issued at the same time as the issue of the NEO currency itself, that is, in the amount of 100 million units. And if NEO coins are like a kind of shares of this company, which allow their holders to get the right to vote on the choice of bookkeepers, then Gas is a token for settlement within the system, which is necessary to pay for transactions.

Moreover, you can get these coins quite easily. All you have to do is purchase the NEO cryptocurrency and you will immediately be credited with a certain amount of GAS coins every day. That is, you simply buy NEO and transfer the coin to a pre-registered wallet called NEON, which can be downloaded from the company’s official website. After this, you will immediately start receiving automatic GAS coins.

So, in principle, all investors can not only make money from the growth of the NEO coin rate, but also receive stable passive income in the form of daily crediting of the GAS token to their wallet.

NEO and Ethereum: similarities and differences

The NEO cryptocurrency is sometimes presented as a Chinese analogue of Ethereum, but this is far from true. The platforms are focused on various niches.

History of NEO. OnChain and its partners

This project was first developed in 2014 under the name AntShares, which was later renamed NEO.

The company was founded by Chinese entrepreneur Da Hongfei, who is also the head of OnChain, along with his technical director Eric Zhang. From here, it becomes clear to everyone that NEO is closely related to the OnChain company, so it is worth studying it a little.

OnChain was also founded in 2014. The corporation is engaged in a very interesting project to develop the DNA system (“Decentralized Network Architecture”), which is translated from English as “decentralized network architecture.” It can also be called a private Blockchain system.

This technology is an integral part of the NEO cryptocurrency. The DNA system is primarily designed for all types of businesses - industrial and financial companies, government agencies in China, etc. In general, for all those enterprises that want to use Blockchain technology in their organizations. NEO, in turn, plays an important role here, since it is this network that makes it possible to combine this system of private Blockchains into a single whole, creating a single decentralized system of the future economy.

Although the DNA system will seem like a very promising idea to many, some may doubt its functionality. However, all these arguments are easily dispelled by the fact that this system is already used by some of the largest corporations in the world, which have become full partners of NEO and OnChain.

The largest of them:

• Hyperledger is a project that is trying to introduce Blockchain technology into the fields of finance, logistics, Internet of Things (IoT) and any other production.
• Microsoft China is OnChain's very first and largest partner.
• Legal Chain is a company that, together with Microsoft China, develops digital signatures based on Blockchain.
• Alibaba is the company that developed the email certification service for AliCloud,
• Fosun Group is the largest private conglomerate in China.

NEO also works directly with the Chinese government , helping to implement its Blockchain DNA development in various government agencies.

In general, the NEO corporation has created a very interesting project, which is under the patronage of the Chinese government and many large corporations in the world. We can already make a bold conclusion that the NEO cryptocurrency will definitely take its place in the list of the best cryptocurrencies in terms of capitalization in the near future and will be in great demand in the future by many Internet users.

And there are several reasons for this, which we will talk about in the next paragraph.

Why is NEO cryptocurrency interesting?

Community City of Zion (CoZ)

The first thing that really sets the NEO project apart from all other competitors on the market is the creation of the first specialized independent community, City of Zion (CoZ), which brings together developers, translators and designers working on the development of the entire NEO ecosystem.

In development, this community has a lot of ideas to improve the NEO company, while CoZ has already created a personal NEON wallet for storing crypto coins and a NEO Blockchain explorer.

Further forks of NEO

Initially, the developers of the NEO project did not plan to release forks. The reason for this is that the network supports the dBFT consensus, in which the decision on the further development of the system is made by previously elected bookkeepers. And in order for the network to function correctly, 66% of bookkeepers must vote for the decision of the same name.

The appearance of Bitcoin or Ethereum forks occurs because the community is divided into supporters and opponents of changing this network in one direction or another. And if they do not come to a common decision, then a fork occurs. This will never happen in the NEO system as it is completely against their dBFT consensus policy.

Attracting NEO Seed Developers

As part of this project, NEO is creating a blockchain workshop, bringing together community members. Allows you to keep abreast of the latest trends, promote projects based on smart contracts, and discuss the practical application of NEO-based applications.

NEO also plans to organize online courses to help developers from all over the world join the development of smart contracts. For developers with worthwhile ideas, NEO will provide technical assistance.

In addition, there is Testnet for testing applications on NEO. To submit a program for review, just fill out the form on their website.

Projects on NEO. NEX Platform

The NEO platform is not yet as popular as Ethereum, but it is already being used by some Blockchain projects that have been able to successfully establish themselves in the digital market. One such project is the NEX trading platform.

NEX is a platform for creating comprehensive decentralized crypto trading and payment services. A lot of work has already been done on this Blockchain project, and now NEX is conducting a full-fledged ICO and plans to quickly raise funds from investors to implement its future ideas.

Also on the NEO platform, ICOs of such projects as “Red Pulse” (RPX) and “AdEx” (ADX) were carried out, which are already displayed on the Coinmarketcap website and can be studied by any interested user.

In general, the NEO cryptocurrency is already slowly beginning to capture the market and pose serious competition to such a large digital company as Ethereum. Many new ICOs that are going to be implemented in 2022 are thinking about using the NEO system rather than ETH, since this digital asset solves problems with scalability, cost and transaction speed.

The developers focus on the following components:

NEO digital assets are assets converted using programs into electronic data form. Thanks to the blockchain network, they can be easily tracked, traded and moved at the will of their holders. The link between digital and physical assets is digital identity. Any user registered in the NEO network can manage assets through the blockchain.

NEO identification is the certification of information using the X.509 PKI (Public Key Infrastructure) standard to identify a subject: an individual or an organization.

NEO Certificate is an electronic document confirming the completion of identification. The certificate provides a legal guarantee and encourages user confidence in the NEO project.

A smart contract is a set of obligations that are digitally defined, including an agreement on how the parties to the contract will fulfill those obligations.

Where to buy NEO cryptocurrency and how to store it

NEO cryptocurrency is now traded on many exchanges. NEO is considered a reliable and proven asset with a very promising idea, which is why almost all the best cryptocurrency exchanges add it to their lists.

The most famous exchanges trading NEO are Binance, Bitfinex, HitBTC. They have the largest trading volume and you can easily buy NEO cryptocurrency there without any problems.

Exchanges where you can buy NEO

You can, as always, see the “Markets” section on the Coinmarketcap website for a complete list of exchanges.

You can store NEO cryptocurrency both on the exchange and in the official NEON wallet, which can be found and downloaded on the company’s website. It is best, of course, to store cryptocurrency in your wallet, since in this case the security of your finances will be at the highest level, and you will also be automatically credited with a GAS token.

If you leave the coins on the exchange, this may be fraught with consequences, since in this case you do not control the private keys.

NEO to Russian ruble exchange service created for your convenience.

EXMO is a reliable cryptocurrency exchange with a high level of security of funds and data and the fastest technical support that responds within 15 minutes 24/7. Taking care of the client is the main priority of the EXMO team.

The EXMO platform, where you can exchange NEO for RUB, was founded in 2013 and has offices in London, Kyiv, Istanbul and Moscow. EXMO is one of the largest exchanges in Europe in terms of traffic, NEO trading volume and liquidity.

The platform's easy-to-use interface will be convenient for both beginners and professional traders. The platform uses TradingView charts , which contain all the tools and data a trader needs for technical analysis when trading NEO or the Russian Ruble.

Login to the platform, buy/sell NEO and store NEO in the EXMO multi-currency wallet.