NEO - Smart Economy

NEO, the Ethereum of China, was down for over 30 minutes today during the Trinity ICO

NEO, the so called Ethereum of China, went completely down today during the Trinity ICO. They claim they can handle up to 1000 TPS, while Ethereum can only handle 15 TPS, yet they went down after a single block included 576 transactions.

Lets simplify that, approximately every 36 seconds a new block is procuded on the NEO blockchain. Let's round that down to 30 seconds. Assuming there's 2 blocks every minute, that means that - when the network stopped working - we reached a TPS of 19.2 before everything stopped working.

Obviously the above logic and calculation is a bit rough and not really applicable, still it is concerning that the network went down entirely for 30 minutes while an ICO happened. Especially with bold claims of 1000 TPS. I'm a bit disappointed in the future that was promised me.

On the bright side, NEO did reach an all time high today and soared to 150 USD! It is the only coin in the green in the top 10 on CoinMarketCap at the time of writing.

CMC Top 10 - 14 Jan 2017