Neo-Chinese Ethereum

Neo is an open-source, community-driven platform that is leveraging the intrinsic advantages of blockchain technology to realize the optimized digital world. It is often referred to as "Chinese Ethereum".

On the Neo blockchain, users can register, trade, and circulate multiple types of assets.

NeoVM-   The virtual machine used for executing smart contracts. It supports multiple programming languages such as C# and Python. The NeoContract smart contract system will allow millions of developers around the world to quickly carry out the development of smart contracts.

Neo gas- The smart contract executed in NeoVM requires computational resources. The Neo network charges GAS for the operation and storage of tokens and smart contracts, preventing the abuse of node resources. 5 GAS tokens are generated every block and distributed in three parts.

NEO proposes a dBFT (delegated Byzantine Fault Tolerance) consensus algorithm based on the PBFT (Practical Byzantine Fault Tolerance) algorithm. In NEO there are usually a fixed number of nodes (7). A dBFT2.0 consensus system with validators can tolerate at most normal nodes. Each consensus phase (Commit, Change View, block generation, etc.) requires at least one to reach consensus.

Scalability and throughput-  

Transaction per second 1000

Block time- 15 seconds

NEOUSD declined more than 30% after a massive jump of more than 130%. The pair holds below the short-term (21 and 55 EMA) and long-term moving average in the 4-hour chart. It hit a low of $9.85 and is currently trading around $11.37.

The bullish invalidation can happen if the pair closes below $6.40. On the lower side, the near-term support is $9.80. Any break below targets $8.45/$7.

The pair's near-term resistance is around $12.50. Any breach above confirms minor bullishness. A jump to $15/$20 is possible. A surge past $20 will take it to $30.

It is good to buy on dips around $10 with SL around $8.50 for TP of $20.