NEO Review and Rating Update – Svjatoslav (Svet) Sedov
Today I want briefly review and update NEO’s “Vision” (Singularity- Volume- Empathy- Timeline) sub-rating.
During 2018–2019 NEO has become one of those unfulfilled promises, which most funds hate to find in their portfolios when times come to report to their LPs.
I’m not talking about the prices here. We all know that NEO was almost annihilated by crypto-bears. After all, it has been the destiny of all coins / tokens to follow BTC as a dog on a leach follows a drunken men. It’s NEO fundamentals which interest me.
During all of 2019 NEO’s presence in the news channels feeds was close to none. Sure we might remember October 30, 2019 Binance U.S. announcing adding NEO and ATOM support to their new platform. (Link: https://support.binance.us/hc/en-us/articles/360035721391)
We also can vaguely recollect April 29, 2019 when Erik Zhang brought a confusion to the range of NEO supporters by declaring “the launch of NEO 3.0 — New Blockchain Network” and that “users will need to swap tokens”.
After several months past (June 4) that was followed by the press-release on NEO’s site, which says: “The NEO team, which is hard at work building the Smart Economy of the future, has unveiled a key step in its move towards the NEO3 upgrade, releasing version two of its delegated Byzantine Fault Tolerance mechanism — dBFT 2.0 — on its MainNet.” (Link: https://www.coinspeaker.com/neos-upgraded-dbft-consensus-mechanism-improves-stability-and-reliability/)
That’s it. No more devs news. Most questions, which external observers might ask (like “why, when, how”) still remain unanswered. Sure there were also the partnership with Ontology revealed in July and “$100 million ‘NEO EcoBoost’ fund that will be invested into supporting dApp growth” declared in August.
However, all those “milestones” suspiciously coincide in time with the general 2019 summers’ spike of activity on the crypto-market. As the trading frenzy subsided so did NEO’s all medias stunts and protocol development activities, which is confirmed by GitHub (Link: https://github.com/neo-project).
Not very impressive for the “Chinese Ethereum” allegedly “supported by the government”.
Looks like for one reason or another NEO continues to actively loose its market share to competitors (ETH primary, which is now the indisputable DeFi standard).
That must be reflected in “Singularity” sub-rating (downgraded to “c+”). At the same time the public enthusiasm with NEO is subsided significantly, although this project still retains some “aura” of novelty (Empathy: “b-”). As was noted time is running out for NEO fast as projects like Cardano and Tezos catch up fast in the race for the “smart contract” supremacy (“Timeline”: c+).
Still our space is in its early infancy and NEO have theoretical chances left to regain its former leading positions thanks to the sheer size of the market. (“Volume”: “a”).
Result: Singularity- Volume- Empathy- Timeline: c+ab-c+
Link: https://docs.neo.org/docs/en-us/basic/technology/dbft.html
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Published at Thu, 13 Feb 2020 00:34:20 +0000
