Back when I wrote the What’s Antshares/NEO and Why You Should Be Watching It? article on July 20th, one NEO was worth $7.31. Over the last few days, NEO reached an all time high of $40/NEO. Anyone who invested in NEO when the article came out would’ve seen a 447% return on investment in less than 3 weeks. That’s crazy, even in cryptoland. But there is another Chinease dragon…
There’s a new crypto platform on the scene and it’s a blockbuster.
Dubbed the “Ethereum of China” it’s up over 400% in the last week alone. It rocketed into the top five of coin market caps, blowing past the veteran Litecoin.
At the time of publication Bitcoin is trading at $4,300, up 30% in the past week (boosted, in part, by strong demand from Japan driven by events around North Korea). Ethereum is up 15%. The total market cap of all cryptocurrency as tracked by CoinMarketCap is at an all time high of $140B. All great stuff, but noise in the long run.
I went to the 2017 Blockstack Summit to try and get a feel for the current state of the cryptocurrency technology and market.
Many of the people I follow in the cryptocurrency space were either attending or speaking, including Naval Ravikant, Nick Szabo and Balaji Srinivasan.
It gave a good overall picture of current state of the technology, so I thought I’d publish my notes on a few of the panels here.
Ethereum co-founder Vitalik Buterin recently announced Plasma, a scaling infrastructure that will help the Ethereum blockchain handle much larger data sets than is currently possible.
Let me explain how it should work. I hope it will save you a little time.