ICO Reviews

NEX ICO review

  • 19.03.2018
  • 244

Most modern cryptoexchanges are centralized, and do not work on blockchain, using standard algorithms instead. The consequence of this are regular hacker attacks and cryptocurrency theft from users’ wallets. Recently, several decentralized trading platforms have been launched using blockchain technology, which provide a higher level of user safety. But bandwidth of such exchanges is often even lower than that of centralized ones. The Neon Exchange (neonexchange.org) project’s aim is to solve the problems of both transaction processing speed and platform security. What is NEX, and how promising is project’s ICO?

The essence and features of the NEX platform

One of the key ideas that allow NEX to provide both speed and security is the combination of blockchain and off-chain operations. Initially, orders will be processed off-chain. This will allow to increase the speed several times, as well as to implement margin trading and pending orders. Outside of the blockchain, there will be a search for counterparties to close deals. And the final operation will be made on the blockсhain. GoNetwork also works on the slow transaction speed issues.

In addition to off-chain operations, the platform will use other mechanisms to increase orders’ processing speed. For example, a special algorithm will detect similar orders (for example, buy orders at the same price), merge them and conduct one transaction to reduce the blockchain burden.

Developers created the NEX platform on NEO’s blockchain using Ethereum smart-contracts. Initially, the main trading assets on the cryptoexchange will be NEO and GAS tokens (neo.org). And later the team will add other cryptocurrencies.

Neon Exchange is positioned not just as a decentralized trading platform, but as one of the global NEO ecosystem elements. Not surprisingly, there are a lot of people who were behind the creation of the “mother” NEO platform itself among the project’s team and advisors.

The NEX ICO team

The five project leaders are also it’s co-founders:

  1. Fabio Cesar Canesin, Co-founder and Developer. Programmer and engineer, engaged in research and software development since 2008. Co-founder of the City of Zion – community that develops applications for NEO.
  2. Fabian Wahle, Co-founder and Developer. PhD in Technical Science, researcher, specializes in artificial intelligence development. The founder of Altoida. The City of Zion co-founder.
  3. Ethan Fast, Co-founder and Developer. PhD in Computer Science. The founder of Proxino (in partnership with Y Combinator), the City of Zion co-founder, one of the NEON cryptowallet developers.
  4. Luciano Engel, Co-founder and Developer. Engineer at SIGMA, Lemonaid Learning Analitics co-founder. The City of Zion co-founder, creator of NEOScan.
  5. Thomas Saunders, Co-founder and Developer. A software developer with ten years of experience. The City of Zion co-founder.

As you can see, NEX is not the first joint project of this team. All five participants are well-known among the cryptocommunity, already have impressive experience and have proven their worth as blockchain developers and entrepreneurs.

The project’s advisors are Muzzammil Zaveri, a successful venture investor included in the Forbes’ TOP, as well as Onchain and NEO leaders Erik Zhang and Da Hongfei.

Plans for further development and ICO details.

The project’s team will hold an ICO in the near future. And they developed rather unusual tokens open sale mechanism: just before the ICO, they will hold a lottery among potential investors, and only 25,000 participants will be able to buy tokens at the starting price. And the purchase’s limit will be one thousand dollars equivalent per person (minimum investment – 1 NEO).

In order to take part in the lottery and get a chance to become one of the first investors, you need to fill out a small form, specifying the e-mail address, country and part of your passport number.

If they won’t sell all tokens in the first stage of the ICO, they will repeat the lottery and hold a second round of the ICO. The limit will raise to nine thousand dollars.

After the ICO, in the second quarter of 2018 the team plans to launch a platform with the ability to trade NEX, NEO and GAS. By the end of the year – to add margin trading and other tokens, including Ether.

Summary of NEX ICO

ICO NEX has already attracted enough attention of ICO-hunters, reviewers and experts (even odious Ian Balina), and the crypto community as a whole. The fact that project managers conduct a lottery and limit the maximum investment in ICO means they are absolutely confident of success. A team of experienced specialists is a guarantee of success. Also – a link to an interesting developing ecosystem and an interesting concept of a useful product. Neon Exchange project has one of the most promising ICOs in the first half of 2018. And it is difficult to find a person who at least know something about cryptocurrencies who would not agree with this.

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