What is the price prediction for Neo?

The average Neo price prediction values the coin at $28.10 by the end of 2023. Things like the economic climate and the crypto market as a whole can all have an impact on the price.

It’s best to take predictions with a grain of salt but you can use expert estimates to help you understand the weight of opinion about a coin.

What is Neo?

Neo is a blockchain platform where developers can build and run applications. Considered the main Chinese competitor to Ethereum, Neo also uses a system of smart contracts to let its users buy and share assets between them in a trustworthy way. 

The Neo coin is a means of payment on the network or can be bought and sold like any other asset on the open market.

How does Neo work?

Neo works by recording transactions on the blockchain. Transactions are grouped together to form a block, which is then verified by other users on the network, known as nodes, before being linked to the previous block via a chain, forming the blockchain. 

How is the Neo network secured?

Neo‘s network is secured by the blockchain it runs on. It uses a consensus mechanism called Delegated Byzantine Fault Tolerance, which combines the benefits of both Proof of Work and Proof of Stake algorithms. Groups of other users on the network, known as nodes, verify and secure all transactions before adding them to the blockchain. 

What is Neo used for?

Neo‘s use of smart contracts means developers can build applications that can be programmed to execute automatically when certain conditions are met. These applications can serve various purposes, including financial services, supply chain management, and identity verification, among others. 

Why does NEO have value?

Neo tokens are required to participate in the network and its value comes from its utility as a means of payment for transactions and other services within the ecosystem. As the network grows, the value of Neo may increase. 

Who created Neo?

Neo was created by developers Da Hongfei and Erik Zhang who are both directors of the Neo foundation. The team is based in Shanghai, China, and Erik Zhang wrote the Byzantine Fault Tolerance algorithm code.

Where can I buy Neo?

You can buy Neo on a crypto exchange. An exchange is a marketplace that allows you to sign up, deposit your money, and buy some crypto, just as you would with a stock platform.

Most cryptocurrency brokers allow you to keep the coins you buy in your account. However, you may want to sign up for a dedicated crypto wallet for some extra security.

Are there any other ways to invest in Neo?

The simplest way to invest in Neo is to buy it outright. However, another option is to simply open a crypto account. Crypto accounts are like regular bank accounts and allow you to store a variety of currencies, send and receive payments, earn interest on savings, and spend freely with a credit card.

You can also invest in crypto more generally through a crypto ETF or a crypto fund. These are financial instruments that give you exposure to a group of leading cryptocurrencies, more suited to high net worth individuals.

Are there any Neo alternatives?

There are several Neo alternatives and below you can find a selection of a few coins offering something similar. 

• Cardano. Cardano works in a similar way to Ethereum.
• Bitcoin. Bitcoin is the original cryptocurrency and the largest in the world
• Binance coin. Binance coin is the native cryptocurrency for the Binance platform.

More crypto guides

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• Best altcoin exchanges

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