Crypto coins come and go, and the ones that stay are often subject to volatile price swings. One of the coins that have seen an up-and-down journey is NEO, the so-called “Chinese Ethereum.” The chain touts itself as ‘rapidly growing and developing,’ but it has been quiet around the project, with some asking whether it is dead or alive.
History of Neo (NEO)
NEO was first launched in 2014 by Da Hongfei and Erik Zhang under the name AntShares. In 2017 the blockchain rebranded to Neo, with the native coins NEO and NEO Gas. The concept behind Neo involves a Smart Economy, which comprises of digital assets, digital identities, and smart contracts.
NEO has been popular in China since its launch, but its self-described rapid growth and development have been missing in the past year.
However, the blockchain utilizes a unique consensus algorithm called dBFT (delegated Byzantine Fault Tolerance). This algorithm is designed to improve the speed and security of transactions on the NEO blockchain.
Is the “Chinese Ethereum” Neo Dead or Alive?
The NEO price has fallen significantly since its peak of $196.85 in early 2018. At the time of publication, NEO trades around the $12 mark, which is a decline of 93%.
Most crypto experts have gone so far as to declare NEO dead, while on the other hand, many investors are hoping their investment may recover in the next bull run. In fact, the the blockchain pumped in the 2021 crypto craze to over $117 from current price levels.
It remains to be seen if the chain can repeat history in the coming years, even without any development updates or news at all.
Embrace Your Future: Avorak AI ICO Huge Success
The recent launch of the ICO of Avorak AAI was a huge success, seeing an increasing amount of investors flocking in. Avorak AI is a blockchain-based artificial intelligence (AI) platform that provides users with AI-based tools on the Binance Smart Chain.
Some of those highly sought-after tools are described as algorithmic trading bots, chatbots, or generative art modules. Those AI tools are available exclusively to AVRK holders, which is the native currency of the protocol.
The ICO just commenced on the 1st of March. However, it is already clear that the ICO will sell out in no time, especially with the early investor bonuses.
NEO has been through a turbulent journey since its launch in 2014. It has seen some significant price fluctuations, and its fate is yet to be determined.
On the other hand, Avorak AI is an exciting project, and its future looks bright. So don’t hesitate to check out the website and invest in AVRK.
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