Developers on the NEO network have released the first template for ICOs on the network. Investors saw this as a very positive sign and NEO is up 62% from last week’s levels.
Like the Waves Platform and EOS, NEO is a network competing directly with Ethereum to offer other businesses the ability to create cryptocurrencies and smart assets on a blockchain platform.
Token Sale Template
The template has built-in features designed to make ICOs easy to implement and regulation friendly. For instance, any ICO on the network will have built-in refund capabilities, and any payments sent after the ICO ends will automatically be rejected.
In addition, all participants in an ICO will have to have their addresses verified by a KYC service.
Crypto enthusiasts have mixed views on NEO. Some feel it doesn’t offer enough of an advantage over Ethereum, while others point to the recent bottlenecks that have slowed the Ethereum network. NEO can handle as many as 10,000 transactions per second while Ethereum can only handle 15.
If NEO can facilitate a few solid ICOs in 2018 it is sure to receive a vote of confidence from the market. There are also rumours that the platform is being developed with the Chinese state as a partner.
Speculation is mounting according to which ICOs, which are currently banned in China, may in future be allowed if exclusively platformed on the NEO network. While this doesn’t fit with the usual ethos of inclusiveness within the crypto community, it would be sure to work in NEO’s favour.