The Ever Expanding NEO Ecosystem Continues To Grow With New Token Additions
Whilst you may see NEO as a little stagnant at the moment, the actual NEO ecosystem is seeing fantastic growth. At the time of writing, NEO is valued at just $18.54, down 1.28% from yesterday. Ranked 14th for market cap according to Coinmarketcap, NEO is slowly slipping back into the background, though with the addition of another two tokens onto the NEO ecosystem, we could see NEO take a sudden change in direction. Is NEO about to rise once again?
According to the NEO Global Development (NGD) Monthly Report, the team at NGD have created two new digital assets that are complimenting the growth of the NEO ecosystem. The development of these assets is important as it addresses the needs of the growing NEO community, in order to allow users to make full use of the current NEO and GAS assets. The new assets, known as CNEO and CGAS will be pegged to the value of NEO and GAS.
According to the full NDG report:
âWith the growth of the NEO ecosystem, an increasing number of decentralized applications (dApps) have been implemented on the NEO blockchain, requiring a diverse set of asset types. In response to requests made by the community, NGD has developed CNEO and CGAS, two contract assets that correspondingly map NEO and GAS, two global assets, to NEP-5 smart contract equivalents. CNEO and CGAS were created because NEOâs UTXO assets (NEO and GAS) cannot be easily used by smart contracts. By converting NEO and GAS to NEP-5 equivalent, developers can have access to full smart contract functionality and make use of the NEO and GAS tokens within applications.â
By making their own smart contracts more useable, NEO is quickly becoming a serious competitor to Ethereum.
What next for NEO?
As per the monthly report, NDG and NEO have some very exciting plans for the next few months, including the ongoing expansion of the NDG team:
âWe are in an exciting phase that NGD is growing very fast. In the past one month, we had a number of new talent join the team, and continue to remain on the lookout for outstanding individuals.â
Itâs very clear that NEO is not stagnant. Whilst the currency does look to be in limbo, as stated early, the actual NEO project is in full swing, with the entire NDG team working very hard to secure this projects future. Itâs not going to wipe Ethereum off the top spot just yet, although the future is looking very bright for the project, a project that we expect to see grow through the early months of 2019. For investors, itâs just a case of waiting patiently now.
NEO Global Development Monthly Report