NEO is a Chinese based Ethereum competitor, many call it the Ethereum of China.
It's a blockchain network that allows for applications to be created, much like Ethereum. The founds are from China and it's very popular over there, many new applications are being made.
In fact, when i heard the news that one of China's top AI scientists is creating a new AI application onto the NEO network, i bought some right away, for around $30 each.
Within a month of this news the price shot up to around $160.
NEO has 100M total tokens, the same as Ethereum. Many different applications and software can be run on the blockchain, which will create massive demand for the coin.
NEO has a POS method for generating coins, by simply holding NEO coins in your wallet you will generate NEO gas.. the payment fee for sending transactions. The price of NEO gas goes up with the price of NEO, so holding onto your coins and earning free gas should certainly prove profitable for long term hodlers.
Take a look at the screenshot below, as soon as you start holding the coins you start earning NEO gas right away and it couns up in real time - easy money!
As more applications are built onto NEO, the price and demand for the coin will most likley rise, and with so many Chinese developers and application builders jumping on board i am glad i bought my NEO when i did.
Keep an eye on this one, and look for big announcements of new projects.
