Antshares crypto about to shoot through the roof
Token Analysis: Is NEO (Formerly Antshares) ‘China’s Ethereum’?
Token Analysis: Is NEO (Formerly Antshares) ‘China’s Ethereum’?
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NEO has been called “China’s Ethereum”. The Western market first collectively learned about Antshares, a smart contract and decentralized application (dApp) platform, just ahead of the company’s rebrand to ‘NEO’ – which is Greek for “newness”, novelty and youth. That merely one exchange offers bitcoin-NEO trades has led to a bottleneck in supply. Prices skyrocketed in the weeks ahead of the rebrand. Antshares’ ICO was in the fall of 2016.
NEO development began in 2014 and the blockchain-startup ONCHAIN is overseeing its enterprise version. Already the platform offers more languages than Ethereum supports. NEO’s partners include crowdfunding platform WINGS and multinational technology corporation Microsoft.
last year of a partnership between Alibaba and the former AntShares were false, though the companies have worked together.
NEO’s collaboration with Wings is for research and development purposes. With Ali Cloud and ONCHAIN, NEO is working on a proof of existence e-mail repository.
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The token price, still trading under its former ticker ‘ANC’ or ‘ANS’ across the web on this article’s publish date, and until the rebrand is complete in the third quarter of 2017, skyrocketed particularly from June 19-20. The platform increased from $1.65 on June 15 to $10 at the time of writing on June 20. It then corrected and currently sits at just shy of $7, according to CoinMarketCap. Antshares’ all-time high sits at $11.79.
The decentralized smart contract platform’s first price history, according to CoinMarket Cap, started this past fall. The project’s native token started trading at a price of 55 cents before settling between approximately 10 cents and 30 cents. ANC trended south until the end of October 2016, when it reached a nadir of 8 cents. The price then skyrocketed to 31 cents. After a quick price increase, the price drifted downwards until March 2017 when it, along with much of the crypto-asset complex, increased in value.
Per the rebrand, not only does Antshares become NEO, but Antcoin (ANC) becomes ‘GAS’. “So, it is no longer a ‘dividend interest’ sort of asset, but a utility sub-token for network functionalities,” a NEO community member told Hacked.com.
NEO smart contracts are based on NEO’s Virtual Machine, which is similar to Ethereum’s Virtual Machine. NEO plans to soon release its “Smart Economy” platform, which has also been termed “Smart Contracts 2.0”.
NEO is designed to solve the same problems as Ethereum. NEO’s incorporation of
in its computer science model solves scalability problems. Ethereum has yet to make such changes to better scale that smart contract and dApp platform.
By using Delegated Byzantine Fault Tolerance (dBFT) for its blockchain operations – a consensus method proponents claim offers better security for blockchains – NEO places itself in the company of the well-known blockchain project Hyperledger, and the lesser-known Stellar. “Specialized bookkeeping nodes” reach consensus via “delegated voting” per NEO’s dBFT model. It takes a two-thirds vote for approval of a current copy of a blockchain.
“After investigating and studying the crypto-industry and blockchain technologies for several years, we came to the conclusion that the delegated Byzantine Fault Tolerance alternative (or dBFT) is best suited for such a system,” Erik Iz, co-founder and core developer at Antshares, stated on BitcoinTalk. “It provides swift transaction verification times, de-incentivises most attack vectors and upholds a single blockchain version with no risk of forks or alternative blockchain records emerging – regardless of how much computing power, or coins an attacker possesses.”
With the rebrand in NEO’s past, the team is looking forward to expanding its western-focused marketing efforts, a NEO community member told Hacked.com. Moreover, it’s partnered on a “do over” for the cryptocurrency community.
“Nest is a whole new form of smart fund written in Antshares smart contracts,” writes NEO about its new ‘DAO’ style fund called
The DAO, or ‘decentralized autonomous organization’, had set out to become a decentralized venture capital fund based on Ethereum’s smart contract code. It failed.
NEO adds about its attempt at a similar fund: “Nest aims to, with the power of blockchain, eliminate and neutralize problems like high threshold, high risk, low efficiency and moral risks. Participants invest, manage and exit with smart contracts instead of application to certain organizations. Antshares’ Blockchain enables everyone to join the Nest, with a 0 threshold and 100% transparency, with a safe and free exit option at any given time.”
For a cryptocurrency community that likes to be right – they told you so about Bitcoin, after all – Nest could garner serious interest for users looking to make a point, and prove the ideas behind crypto right.
Nest Fund isn’t the only blockchain-based service or product offered by NEO. Other than its parent, ONCHAIN, NEO leads projects including blockchain-based browsers, a web-based crypto-asset wallet, as well as an online crowdfunding fund that is not the aforementioned Nest. The team also partnered with Microsoft Azure to bring blockchain technology to the server experience. This project is similar to partnerships pioneered by
Antshares is available on just five exchanges currently, and that limits the amount of buying demand for ANC. Just a single exchange buys and sells ANC for Bitcoin. Now, as many westerners learn of NEO for the first time, the demand will only increase.
But a lack of information available in English about NEO could slow demand. When NEO’s implementation of blockchain technology receives increasing press in the English-speaking world – and it likely will considering its corporate partners – there could be further price implications. The crypto-asset is currently the 23rd largest, according to Coin Market Cap. On CoinCap.io, it is the 21st largest.
Only time will tell with NEO, but there are lots of intriguing projects in the works at the blockchain company, including authentication work with Chinese authorities to map real-world assets with smart contracts. The company also has numerous patents, including ones for cross-chain interoperability. It’s partnered with numerous blockchain projects, like Bancor, Agrello, Coindash and Binance.
Due to NEO’s corporate partners – among whom are included Microsoft, etc. – and its under the radar Ethereum-esque functionality, we give the project a 7.75 out of 10.
In order to use the new version of the platform, NEO, Antshares users do not need to do anything other than download the new client/app when it is ready later this year. ‘ANC’ becomes ‘NEO’, and ‘ANC’ becomes ‘GAS’.
ANC – as it is still currently referred to throughout much of the digital asset realm until the rebrand to ‘GAS’ is completed – can be purchased on the western-facing digital asset exchange
. In the east, the asset can be found at exchanges Yunbi, Yuanbao, Jubi, and 19800.
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I don’t see ANC at Bittrex. Can you provide the direct link to the coin’s page on Bittrex?
Oh, and great article by the way. 🙂 Thanks for the analysis!
Thank you bitsurfer. The page for ‘ANC’ is here:
https://bittrex.com/Market/Index?MarketName=BTC-ANS
It’s listed as ‘ANS’, just as AntCoin is listed at Coin Market Cap.
When you’ve logged in to Bittrex, go to their Bitcoin Markets link (upper left hand corner of the page). type in Antshares. Directly underneath it, you should see a light blue ‘ANS’ show up. click / go.
I know about ANS, and certainly see it in Bittrex.. though the author also references a second coin, ANC, and says it is trading at Bittrex only, but I don’t see it.
Hopefully this ‘ANS’/’ANC’ aspect gets taken care of with the rebrand, and as well with NEO’s advertising push into western markets. I used ‘ANC’ and ‘ANS’ interchangeably here because the official name is ‘ANC’ but it is traded as ‘ANS’ in the marketplace – an interesting phenomenon perhaps specific to crypto.I make note of this quickly at top of article.
Do you think it’s worth scooping up a few hundred usd worth for long term investments ? I’m super interested in this
Trust what you read. If you agree with the 7.5 out of 10 stated in the summary, you already have your answer from the author. If YOU think it’s worth a risk, and are willing to take the chance that a couple hundred USD might be lost if it doesn’t go well, you are ready to invest in crypto.
It really depends on your personal situation, philosophy, etc. This rating is based mostly on the fact that NEO is working on technology used by the consortium known as Hyperledger (so, major players in the space), the lack of awareness in the west, and that the company has worked with Microsoft much like Ethereum in the west.
With such an article about Neo, i m curious to know why you don’t add it in your stock of picks or recommendations.
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For all of us believers that asset prices are set by fundamentals rather than fantasy, these are perplexing times. Crypto prices are not only way off their January highs, they are at the
. Progress in addressing issues like scaling and security may be slow, but they are taking place. The cooperation between crypto and government regulators is improving in big chunks.
Yet, while all this is going on crypto technicals look terrible. Everyday technical analysts use words like downtrend and overhead resistance. When prices have rallied, the joy is short lived, lasting only for a day or two. Even on good days, the moves are weak on low volume. This is never a good sign. Long gone are the kind of investor fears about missing out (FOMO) that we saw last year.
There are fundamental reasons for skepticism for long term believers, as the data has not been going in the right direction. True, projects are progressing a slow pace. This maybe good for avoiding problems with security etc., but for investors who want immediate gratification, right now crypto isn’t ringing any bells.
But truth is, crypto markets appear to be unresponsive even to seemingly good news. Take for example this recent Cryptovest headline:
Cardano (ADA) Releases New Version, Price Remains Stagnant.
Today, crypto exchange Coinbase announced it was increasing daily trading limits sevenfold, changing settlement times from days to instantaneous and finishing its beta before accepting
At the time of this writing, Bitcoin had fallen over 8% in the previous 24 hours while ETH was off almost 10.5%. This marks on of the worst days for crypto in quite a long time.
Drilling down a bit into ETH reveals some core softness. Since virtually the entire crypto pricing stinks there is more than a single cause to Ethereum’s weakness, but here is a start.
there were over 930 ICOs last year that raised anywhere from $3-$5.7 billion depending on which resource you listen to. In the first quarter of 2018, there were roundly another 200 raising over $6 billion. These numbers make for great headlines but there is one problem. They have not translated into higher prices for Ether, or any other crypto either.
The Ethereum platform can claim that somewhere between 70%-80% of ICOs that have Dapps built on the ETH platform. If logic were applied, this should result in greater demand for Ether. But as the truism goes, if everything were logical, men would ride sidesaddle!
One of the clues to unlock this contradiction may rest in the use cases for the most active Dapps. What I an getting at is this: when the top five Dapps function as exchanges to buy and sell Ether or any other ERC-20 token, that is not a sign of mass adoption. Nor is it good when almost 75% of the activity in the top five is accounted by three Dapps and those are exchanges. And finally when volume on nine out of the top ten are trending down, it is not what investors want so see.
To keep some balance to these observations, there are some positive use cases. Three of the ten most active Dapps are for gamers, and that is a use case worth it weight in any currency. Also, usage levels tend to be quite volatile from hour to hour so we may have checked on an atypical moment. But what we want to see are use cases like marketplaces or even gambling where user demand trumps speculators and where activity is growing.
And speaking of gambling, Ethereum big gun Augur, which allows users to create prediction markets for just about anything by buying shares and staking ETH in the outcome of an event. When launched in early July nearly 1,200 were traded in a 24 hour period. At the time Augur appeared to be one of Ethereum’s most promising Dapps.
To be clear, 1,200 is just a benchmark and not proof of success or failure. However, when Augur, one of your most promising Dapps, is being used less than 100 a day with a huge valuation of over $300 million, that is a disappointing moment.
So what is missing here? From the insights offered by DappRadar, the answer is that ETH, and for that matter crypto in general, is hungry for valid signs of a breakthrough in mass adoption. In other words, developments in the payments side of crypto could well provide the needed solution. There is no shortage of projects like Bitcoin Superstore and TenX. And there is always the possibility that the critics of Augur are premature in claiming this potentially game changing Dapp is a disappointment. But so far all of the flashy new whitepapers and highly valued ICOs aren’t connecting with investors. It is time for proof that actual crypto users are getting into game.
And obviously, what is good for ETH is also needed by other players as well.
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MB Technology and GoChain Partner to Accelerate Innovation on the Blockchain
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MB Technology has recently announced that it is committed to bringing $500 million USD worth of ICOs to the GoChain platform. MB Technology is an expert ICO advisory firm that has advised blockchain projects with a combined valuation of over $2 billion in several industries. Some of the companies that they advised include Fantom, Origo, GoChain, QuarkChain, CoinSuper, Icon and other top ICOs.
The company is committing $500 million to GoChain because it has already launched it’s mainnet functioning at 100 times the speed of Ethereum while being 1,000 times more energy efficient. GoChain is fully compatible with existing Ethereum wallets, smart contracts, dApps, etc. Two companies have already chosen GoChain to launch their ICOs: Solaster Health and Etherprise with a combined value of $63 million.
GoChain has hit the ground running. While many blockchains are still trying to finish up their technical whitepaper or have yet to launch their mainnet, GoChain is way ahead of the curvey. Although blockchains are competing to deliver the fastest Transactions-Per-Second (TPS), they nothing without the dApps that build on them. While speed is important, most blockchains releasing now are more than capable of handling sufficient TPS for production dApps. The dApp ecosystem built on top of a blockchain is just as important, if not more, than the speed of the blockchain itself.
ICOs struggle to build on new blockchains as there are not many well-defined standards. GoChain’s codebase is 100% compatible with Ethereum so any dApp that can or has been built on top of it will easily port to GoChain. This makes it easy for existing Ethereum apps to move over to GoChain and immediately work 100 times faster. A few blockchains build amazingly fast transacting software yet have no use cases or a dApp ecosystem building strategy.
With MB Technology bringing half a billion dollars to GoChain, the coin is extremely undervalued. Compared to other projects on CoinMarketCap, GoChain should be at least in the $100 million market cap range. Competing blockchains talk about overtaking Ethereum, yet GoChain has a working mainnet with dApps being added at a blinding rate. GoChain is one of the most underestimated and undervalued blockchains at this time. Look for GoChain to grow to five to ten times in the next few months from its current market cap of $19.4 million. GoChain is currently only on Kucoin. Look for it to list on other exchanges as it gains daily trading volume.
MB Technology offers advisory services to bring specific solutions designed to boost a project’s outcomes. They also create global investor awareness through their network of partners, influencers, and media outlets.
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Kent Hamilton - ICO Analyst on Hacked and Co-Founder of
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The cryptocurrency market’s sudden revival has triggered a large rally in crypto proxy stocks, a broad cluster of companies with direct and indirect exposure to blockchain technology. After a bumpy few months, blockchain-branded firms are once again rising in lockstep with bitcoin and the broader digital asset class.
Stocks tied to cryptocurrencies have traded sharply higher in recent days, with the likes of Riot Blockchain Inc. (RIOT), HIVE Blockchain Technologies (HIVE) and Marathon Patent Group Inc. (MARA) among the best performers.
Riot surged more than 20% on Tuesday en route to fresh two-month highs. Share prices surged 11.7% on Monday.
HIVE, the first publicly-listed blockchain infrastructure firm, jumped more than 11% Tuesday and is up more than 23% this week. The penny stock is proposing a business model that aims to bridge the gap between distributed ledger technology and capital markets.
Marathon’s share price rose 19% on Tuesday after gaining 9.2% in the previous session. Marathon was one the first miners to secure a listing on the Nasdaq.
(NVDA), an S&P 500 component, rose by as much as 2.2% Tuesday after falling in each of the last two sessions. The California-based chipmaker generated $289 million in sales to cryptocurrency miners during the first quarter, far exceeding forecasts of $200 million. The company has warned that mining sales are likely to fall sharply in the July quarter.
is once again showing signs of life after blowing past $8,000 earlier in the day. The gain not only sparked a wider relief rally among cryptocurrencies, it put crypto proxy stocks on the fast track to bigger gains.
With the exception of Nvidia, which is far more diversified than some of its blockchain peers, many of Wall Street’s crypto players are small- and medium-sized firms that have struggled to make headway during the market downturn. Although blockchain companies for the foreseeable future will continue to be steered by cryptocurrency prices, their long-term trajectory is more favorable as distributed ledger technology gains wider acceptance.
Current market leaders in blockchain technology include Ripple, Chain, Coinbase and Bitmain. Over the next five years, market researchers expect the industry to grow manifold with the likes of Microsoft, IBM, Amazon and Deloitte entering the picture.
has become the largest blockchain-focused company in the world following a series of strategic acquisitions. The company says it is open to the idea of an initial public offering (IPO) after rivals Ebang and Canaan Creative announced plans to go public.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
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Sam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.
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