The NEO Project has recently generated quite the buzz around it, especially since it has been recognized as one of Ethereum’s biggest competitors. Investors from all over the world have also shown great interest in many of the projects developed on this platform.
In our article, we will cover 6 of the most promising projects that have been developed on the NEO platform.
Ontology is a public platform designed to support numerous blockchains or traditional IT projects. It implements a set of protocols which enable various functions to be applied. The most relevant examples of such functions are the authentication of digital identities, the authorization of different operations, and data exchange.
The main objective of the Ontology platform is to create a “trust ecosystem” that permits its users to develop their business operations.
Ontology has gathered a large and talented team with a great deal of crypto experience and knowledge. The project has a lot in common with NEO. For example, both projects have a common founder, the Chinese technology development company, Onchain. Da Hong Fei, the co-founder of NEO, is also the CEO of Onchain. Jun Ji, another one of Onchain’s co-founders is also one of the founders of Ontology.
After Ontology completed its airdrop in March 2018 where it distributed 20 million tokens for free, the token price has skyrocketed along with the overall publicity for the project.
Ontology has an ambitious roadmap, and so far, it has accomplished milestone after milestone in relatively rapid progression. With a strong team backing up this project, support from Onchain and the NEO community, as well as a notable list of partners, Ontology is currently on a clear trajectory towards success.
Both NEO and Ontology have partnered in order to build an open cross-chain platform that would work for the future of the next-generation internet. These two blockchain networks and projects will be working together in order to utilize interoperability protocols. In this way, NEO will be focusing on developing protocol and components while Ontology will be building a future-proofed decentralized identity framework.
About it, the Founder of Ontology Li Jun, commented:
“By building an open and global cross-chain system, NEO and Ontology will promote cross-chain value exchange as well as business collaboration to establish the foundational infrastructure for the next-gen Internet.”
He has also mentioned that they would be enhancing their technology and community to deliver real-world use cases for blockchain technology.
Ontology (ONT) is the 25th largest cryptocurrency in the market and it is currently being traded very close to NEO, the 20th largest. Each ONT coin can be purchased for $0.76 and it has a market capitalization of $405 million.
- NASH – (Former NEX Exchange)
This is the project that has caused a lot of hype within the NEO community. The NEX exchange was created by the City of Zion (CoZ) team not only to handle simple buy-sell transactions but also more complex transactions.
Combining the speed and overall convenience of centralized exchanges with the inherently superior security provided by decentralized ones is the primary goal of this platform.
The exchange features an off-chain matching engine. By employing this model, orders will be signed and sent from various user addresses, matched and then signed off-chain. Subsequently, the order will be referred back to the accounts by blockchain. This enables NEX to attain the speeds that centralized exchanges possess while also upholding a decentralized user account model.
NEX is conscious of the possible conflicts of interest which can result from off-chain transactions. To avoid this, all off-chain matches will act according to a publicly trackable algorithm. This makes it possible for anyone to check if the exchange is being used fairly.
Although we have written about NEX, the cryptocurrency exchange is now called Nash Exchange. This platform was founded by Fabio Canesin and they aimed at offering distributed finance to a mass audience.
The company considers that their goal can be achieved by offering a safe and user-friendly crypto experience.
Despite the fact NEX changed to Nash, the digital asset related to this project remains called NEX. The design of their new logo aimed at showing “motion, speed and also approachability.”
This rebranding name took place early in 2019 and was informed through a quarterly report released by the company.
Canesin explained that the exchange is also going to be featuring a “fully non-custodial” system that uses zero-knowledge proof to manage user keys without necessary possessing knowledge of the keys themselves. At the same time, the exchange has also introduced cross-chain trading that would allow users to exchange different digital assets in a fast and easy way.
Some of the digital currencies offered by Nash include Ethereum (ETH), NEO, and USD Coin (USDC). Moreover, there will be trading pair in different markets such as NEO, GAS, Ethereum Classic (ETC), USDC, Basic Attention Token (BAT), OmiseGO (OMG), 0x (ZRX), PHX, NOS, AVA, GUARD and also LX, among others.
The goal of this platform is to build a system that would be able to handle all trading volume as possible and provide users with the advantages of a “provably fair” matching engine.
DeepBrain Chain is a decentralized neural platform that was built on top of the NEO blockchain. Its main purpose is to supply AI computational power to AI companies.
The projects whitepaper accurately describes that the platform’s goal is to offer “a low-cost, private, flexible, safe, and decentralized artificial intelligence computing platform to artificial intelligence products.”
Today’s AI companies must “teach” their computers to process how they go about neural network calculations. This is a laborious procedure which requires lots of time and resources in order to create the required intelligence algorithms.
DeepBrain significantly reduces these computing costs. By employing the platform’s unique business model, every node receives 70% of its income from mining and 30% from the fees paid by the companies who want to train AI computers.
They plan on instating a “decentralized neural network” where computational expenses that are charged for the testing of algorithms are split by the nodes on the network.
Aside from sharing the computing power required to develop AI systems, the DBC platform will also act as a secure, decentralized trading environment. Anyone will be allowed to buy and sell data in their marketplace, which provides solid security.
During the last few months, there has been a noticeable progress on DeepBrain Chain. The firm released a report in which they informed they have developed an API for binding email address for miners that rents out their machines.
Moreover, the community members from China that participated in the testing of DBChain have provided very useful feedback that can be used to improve the whole network.
In addition to it, they have built a Chinese AI developer community forum in which AI developers can post their articles and have discussions regarding the current development of the network. The forum is www.dbctalk.org. They have also signed different agreements with other networks and companies.
Regarding the DeepBrain’s main network, they informed that they have implemented different security patches. Staking and democracy have also been improved. About it, rewards and payouts for stakers have now been setup. After it, when a session is completed, the reward is scored by the timeliness of blocks produced in the predefined period.
About Democracy updates, the team behind DeepBrain Chain informed that this is going to be the main feature of the network’s decentralization.
The first step comes with the proposal. In order for it to be created, a proposer sends the funds to a beneficiary account and it may include ‘set_code’ that would upgrade the runtime. Then a referendum will take place, allowing the proposal to gain votes.
- QLC Chain
QLC Chain (formerly Qlink) aims to be the world’s first platform for distributed telecommunications. The platform aims to create systems that let users of the QLC network become a decentralized telecom group.
QLC offers users the possibility of “renting” out unused bandwidth to other peers on the platform. In exchange for offering their bandwidth, these sellers will be rewarded with QLC tokens.
QLC provides its users with four key services: Wi-Fi sharing, mobile data access, content sharing, and an enterprise-to-peer SMS service. To enable this, QLC will use a mobile and a desktop app. With the help of the mobile app, users can access mobile data and web pages via Wi-Fi connections.
The QLC desktop app offers basically the same features as the mobile app. In addition, the desktop app allows users to buy unused enterprise-to-peer (E2P) SMS, which can then be used to issue content through QLC.
For the time being, there are no businesses that attempt to do the same things as QLC, making them pioneers in the dedicated field. QLC’s platform opens the door for a completely new market which makes Wi-Fi more accessible, more inexpensive, and much more proficient than what is currently available.
QLC Chain has recently approved 23 bugs from a bounty. At the same time, they have also released their second bi-monthly report for July in which they inform about the developments of the Confidant hardware beta testing for QDEX and also many of the updates to the Q-Wallet.
Confidant is hardware that focuses on privacy and that allows users to host private chat networks and cloud storage. Moreover, QLC Chain has recently conducted beta testing for the email platform they are currently developing.
As they informed, the Confidant bug bounty program ended with 37 bugs submitted by four contributors. The bounty participants are expected to receive 70,000 QLC, which will be split among bounty participants.
Regarding Q-Wallet, they are now offering OTC trading functionality. In addition to it, they want to make cryptocurrencies and tokens easy to buy and sell for fiat currencies, allow users to stake QLC tokens and improve telecom services experience.
QLC Chain is also inviting 50 participants to beta test their QDEX applications and how these apps are currently working.
Currently, QLC is the 441 largest cryptocurrency in the market with a valuation of $3.8 million and a price per coin of $0.0162.
Zeepin is a customizable platform focused on the decentralization and protection of creative works. In short, Zeepin’s main mission is to enable artists, writers, and designers to secure their work. It also gives users ways of finding locations to play at, of recruiting new talent, and of forming joint ventures.
The founder and CEO, Zhu Fei, has over 15 years of experience in the creative industry and has been an active contributor to many start-ups.
The current processes of protecting creative works are difficult and intricate. It is often difficult to find who copyrighted a piece of art and nearly impossible to demonstrate that the piece is original and has not been modified at all.
With Zeepin, users will have the ability to keep their work on the blockchain and receive “Copyright Pros,” from which they can then allocate “Authorization Pros,” which will sequentially permit easy delivery of their work in an organized fashion. This will remove any risks of their work being altered or used in an unauthorized way.
The Zeepin will also allow the integration of third-party financial institutions to enable the automatic delivery of payments to the author/creator at low costs.
According to Zeepin, the goal is to entirely focus on the “unfinished promise of delivering ZeeSeries dApp and the empowerment of cultural and creative industries to echo its original commitment to all.”
In addition to it, they informed that over the last one and a half years, they have been working with CryptoGalaxy to try and test new things. CryptoGalaxy is one of the first virtual games based on blockchain technology.
Moreover, Zeepin will be working on the promotion of different projects to reach new potential users, creators and designers that want to support Zeepin’s development.
6. Red Pulse Phoenix
This is another project that was based on top of the NEO network and that aimed at gathering and analyzing services built on top of the NEO blockchain. Like many of the other projects, most of the users and firms come from the Chinese market.
Red Pulse is known for being the first Initial Coin Offering (ICO) that was based on the NEO blockchain. The firm is located in Hong Kong and it started working on the project in 2015. After some years of developments, Red Pulse was launched on the NEO network. The goal is to cover all the market events in the Chinese markets, including companies, sectors and the whole economy of the country.
With this project, the intention is to offer all the necessary financial and economic data about the Chinese market. This is expected to become a solution for many investors that are trying to invest in this growing economy.
Red Pulse used the digital asset RPX that powered the project on top of the NEO network. However, things changed for this project that evolved into Red Pulse Phoenix. The new Phoenix platform is the “next evolution in Red Pulse, bringing forth a revolutionary new infrastructure and upgraded token.” This new coin is now called PHX.
As reported by the recognized cryptocurrency exchange Binance, the new PHX token moved from NEP5 to BEP2, calling itself PHB. The ticker was changed in order to represent the new coin based on the Binance Chain, a new blockchain network that allows companies and individuals to deploy their projects and digital assets.
The new trading pairs on the Binance exchange include PHB/BNB, PHB/BTC, PHB/USDC and PHB/PAX. According to CoinMarketCap, PHB is being traded as the 372 largest crypto with a market capitalization of $5.25 million and a price per coin of $0.00633.
These are the 6 most interesting projects that are or were based on the NEO platform. NEO is currently working in order to launch its NEO 3.0 blockchain network with many different improvements in the way it works. The main intention behind it is to make the NEO blockchain network ready to be used by commercial companies, institutions, governments and organizations.
If you want to know more about NEO, you can read our beginner’s guide to NEO.
You can purchase NEO from Binance exchange, one of the best cryptocurrency exchanges in 2019.