Technical analysis by Magikan about Symbol NEO: Buy recommendation (12/26/2023)

Technical analysis NEO is currently at the end of this massive accumulation phase on the weekly chart. Whales have been accumulating NEO for a long time and it is time to start an uptrend. NEO is one of the older coins on the crypto market, so probabilities of success is pretty high. 802% profit is an optimal target because the accumulation phase has been really long. What do you guys think about NEO? Boost + Follow for more ideas. Thank you so much! How does Neo work? Neo’s platform allows developers to use its software to run smart contracts (known as NeoContracts) and design new programs (dapps) meant to replicate real world products and services. NeoContracts differ from other smart contract-based protocols in that developers can build applications using a variety of popular existing languages (like C# and Java), rather than learning a new language. Thus, NeoContract’s ability to work across various programming languages can be attractive to a larger pool of developers seeking to create dapps, or support existing ones. Delegated Byzantine Fault Tolerant To secure its blockchain and keep its distributed network of computers in sync, Neo employs a consensus mechanism method called delegated byzantine Fault Tolerant (dBFT). dBFT works similarly to the delegated proof of stake (DPoS) and leverages a real-time voting system to determine which computers running the software can create the next block on the Neo blockchain. This means anyone who owns NEO can help operate the network. Each NEO token (sometimes referred to as a Neo coin) can be locked, or “staked,” to represent a vote (the more staked NEO, the more voting power.) All owners who stake NEO then vote for the consensus nodes, who are responsible for creating blocks. For proposing and adding new blocks to the Neo blockchain, consensus nodes receive the network’s transaction fees (paid in GAS cryptocurrency). Boost + Follow for more ideas. Thank you so much!