Neo Price Bleeds 40% to End August as Worst-Performing Big Crypto
NEO was the worst performing cryptocurrency over the course of August out of the world's 25 top cryptocurrencies by market valuation.
NEO is a smart contract platform, similar to Ethereum, that was created by a team of developers in China and was formerly known as Antshares. It was designed to utilize "blockchain technology to digitize assets using smart contracts and common programming language". The platform was created by Da Hongfei and Erik Zhang. It has the ability to process 10,000 transactions per second. It enables two types of tokens: NEO and GAS. NEO is not a currency or asset, but a proxy for voting rights within the blockchain governance system. GAS is an operational token to be used for transactions and smart contracts.Blockchain 101
An hour of high volume trading on Tuesday resulted in bitcoin trading lower, giving back nearly half of the previous day’s gains.
Many of the companies associated with NEO have proven to be a lucrative boon for token cofounders Erik Zhang and Da Hongfei.
Bitcoin had another down day. How long the cryptocurrency follows stocks, and whether next month’s halving juices its price, remain open questions.
It used to be that downtime was unheard of on blockchain networks. As new protocols and new trade-offs emerge, that's no longer the case.
It turns out that more crypto companies explored buying BitTorrent than just Tron. Not previously reported, Neo Global Capital made a much higher bid.