There were many among the cryptocurrency community who celebrated the advent of the NEO coin in the industry – and there were many who rushed to buy NEO as it became one of the hottest new digital currencies. Last October, NEO ranked in the top ten of cryptocurrencies with a market cap that amounted to $3.4 billion market cap. By now, the figure has moved past $7.3 billion.
Starting off in 2014 as blockchain platform AntShares (ANS) by Da Hongfei and Erik Zhang and rebranded as NEO in 2017, when the NEO coin was launched, the new Chinese entry in the cryptocurrency industry has turned quite a few heads. This has led to many questions from supporters who might be skeptical as to whether to buy NEO, especially with regard to operational transparency and funding. Founders Hongfei and Zhang decided to hold an AMA (Ask Me Anything) on Reddit a couple of weeks ago and clarify some issues. Here is what we learned.
1. NEO is Not Clashing with Onchain and ONT
Da Hongfei is also involved in Ontology and Onchain, and there were several rumors within the community of people eager to buy NEO that he had left the project for good. In response, Hongfei unequivocally stated that he has “no plans” of leaving NEO.
2. Da Hongfei is Still On Board
With regard to that same concern, Hongfei also clarified that the two projects are completely independent in their funding and management and not competing. While NEO is basically a smart contract platform, ONT is mainly focusing on data exchange.
3. NEO Aims at Transparency
One of the biggest concerns among investors looking to buy NEO is a perceived lack of transparency with regard to how funds are being invested. Erik Zhang tried to put the rumors to rest, stressing that they are only spending money on the development of the project. Hongfei chimed in to add that transparency is one of their key priorities for late 2018, which will potentially appeal to those who want to buy NEO.
4. NEO is Looking for Marketing Professionals
Responding to a user’s question, Hongfei confirmed that NEO is reviewing its marketing approach. He then reached out to “marketing talents” eager to work for NEO – and even provided an email address for potential candidates.
5. NEO Will Top Blockchain World by 2020
Zhang clarified that NEO is set on becoming the No. 1 blockchain by delivering services to large-scale commercial apps – and NEO 3.0 is the crucial next step in this process.
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