Neutron

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Discover Neutron's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Neutron?

Neutron (NTRN) is a permissionless smart contract platform built using Tendermint and the Cosmos SDK. It enables inter-chain smart contract deployment and supports CosmWasm, Replicated Security, and the Inter-Blockchain Communication (IBC) protocol. This allows developers to create cross-chain applications with enhanced security and interoperability features.

How is Neutron used?

Neutron (NTRN) is a secure permission-less smart contract platform that offers enhanced security and interoperability. It is built using Tendermint and Cosmos SDK, allowing developers to deploy smart contracts that can seamlessly scale across a network of over 50 independent blockchains connected through the Inter-Blockchain Communication (IBC) framework.

Key Features and Uses
  • Interchain DeFi: Neutron enables developers to create smart contracts that can be deployed across multiple blockchains, facilitating cross-chain asset transfers and the execution of multi-chain smart contracts within the Cosmos ecosystem.
  • Customizable Interchain Queries (ICQ): Neutron allows developers to create ICQs using smart contracts, enabling secure data retrieval from other blockchains.
  • Payment and Governance: The NTRN token serves as a payment instrument, participates in governance, and is a foundational asset in DeFi applications.
  • Security and Speed: Neutron relies on the Tendermint consensus algorithm for security and high transaction throughput.
  • Modularity and Flexibility: The Cosmos SDK provides a modular framework, enhancing flexibility and ease of development while minimizing vulnerabilities.
Market and Adoption
  • Market Capitalization: As of November 29, 2023, Neutron had a market capitalization of over $100 million and a daily trading volume of nearly $20 million.
  • Price Performance: The NTRN token has shown consistency in its price, with a significant surge in early November 2023 and a 66% increase from its early November price.
  • Adoption: Neutron has been increasingly adopted by multichain apps in the Cosmos ecosystem, strengthening the use value of the NTRN token.
Founding and Team
  • Founding: Neutron was founded in 2023 by a team led by Avril Duthiel, a former Lido DAO (LDO) community manager.
  • Consensus Mechanism: Neutron uses a Proof-of-Stake (PoS) consensus mechanism, where validators add blocks to the blockchain and validate transactions based on their NTRN holdings.

Overall, Neutron is designed to bridge the gap between different blockchains, providing a robust and secure platform for developers to build and deploy decentralized applications.

How do I store Neutron?

To store Neutron (NTRN) tokens, you have several options:

  1. KuCoin Account: You can hold your Neutron tokens in your KuCoin account. This provides quick access to trading products like spot and futures trading, staking, and lending. KuCoin serves as the custodian of your crypto assets, ensuring security and convenience.

  2. Non-Custodial Wallets: For enhanced security, you can withdraw your Neutron tokens to a non-custodial wallet. This grants you complete control over your private keys. You can use various types of wallets, including hardware wallets, Web3 wallets, or paper wallets. However, this option may be less convenient for frequent trading or staking.

  3. Trust Wallet: You can also store your Neutron tokens in Trust Wallet, which allows you to securely manage your tokens and participate in the Neutron ecosystem.

How to buy Neutron?

To buy Neutron (NTRN) tokens, follow these steps:

  1. Create an Account on a Crypto Exchange:

    • Choose a reputable exchange such as Binance, KuCoin, CoinEx, gate.io, or MEXC.
    • Register with your email address, mobile number, and country of residence.
    • Set a strong password and complete any necessary identity verification steps.
  2. Fund Your Account:

    • Deposit fiat currency using methods like credit/debit cards, bank transfers, or third-party payment services.
    • Alternatively, transfer existing cryptocurrencies from another wallet or exchange to your new account.
  3. Buy Neutron (NTRN):

  • Navigate to the exchange's Buy & Sell section.
  • Choose Neutron (NTRN) as the cryptocurrency you want to buy.
  • Select your preferred order type, such as Market Order, Limit Order, or Stop Order.
  1. Transfer to a Wallet:

    • After purchasing, you can either hold Neutron (NTRN) in your exchange account or transfer it to a personal cryptocurrency wallet for added security.
    • Consider using a cold wallet, such as a hardware wallet or paper wallet, for long-term storage.
  2. Monitor and Manage Your Investment:

    • Keep track of your Neutron (NTRN) investment performance and adjust your strategy as needed.

Remember to research each exchange, compare fees, and ensure they support your country and preferred payment methods before making a purchase.

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History of Neutron

Neutron (NTRN) is a cross-chain smart contract platform built on the Cosmos SDK and CosmWasm. It was developed to facilitate interoperability across the 51+ interconnected blockchains in the Cosmos network, providing a secure environment for developers to build smart contracts and decentralized applications (DApps).

Neutron launched its mainnet in May 2023, following approval from the Cosmos Hub community. The platform aims to simplify the deployment of smart contracts and DApps on the Cosmos Hub. It uses a Proof-of-Stake (PoS) consensus mechanism, where validators are chosen based on the amount of NTRN they hold, and they are rewarded for operating nodes that run the network.

Since its launch, Neutron has seen significant adoption, particularly among multichain apps in the Cosmos ecosystem. This has strengthened the use value of the NTRN token. The token has experienced price surges, particularly in late 2023 and early 2024, although it has also experienced dips, such as in January 2024.

Neutron's price history has been erratic, with significant highs and lows. It reached an all-time high of $1.97 in February 2024 and is currently trading at around $0.75. The market capitalization of Neutron is approximately $209.98 million, with a circulating supply of 279.52 million coins and a maximum supply of 999.85 million NTRN.

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How Neutron works

Neutron (NTRN) is a permission-less smart contract platform built using Tendermint and the Cosmos SDK. It operates on a sophisticated fee model that powers the platform and shapes its financial dynamics. The platform's uniqueness lies in its ability to facilitate Interchain DeFi, allowing developers to deploy smart contracts that can seamlessly scale across a network of over 50 blockchains connected through the Inter-Blockchain Communication (IBC).

Tendermint Consensus Algorithm

Neutron relies on the Tendermint consensus algorithm to achieve both security and high transaction throughput. Tendermint's Byzantine Fault Tolerance (BFT) consensus ensures that the network remains secure even in the face of malicious actors, making it a reliable choice for the backbone of Neutron's infrastructure. Additionally, Tendermint's design prioritizes transaction speed, which is crucial in a decentralized environment where rapid execution can be the key to a project's success.

Cosmos SDK

Neutron is made possible by the Cosmos SDK, a versatile framework that simplifies the creation of secure blockchain applications on top of Tendermint BFT. Cosmos SDK follows a modular approach, allowing developers to pick and choose the components they need for their specific applications. This modular design enhances flexibility and ease of development. Furthermore, Cosmos SDK's design promotes interoperability by default, making it an ideal choice for a project like Neutron that aims to bridge the gap between different blockchains through IBC.

Inter-Blockchain Communication (IBC)

At the heart of Neutron's Interchain DeFi vision is the IBC. This framework, developed by Cosmos, facilitates resilient and secure inter-module communication. It allows for efficient cross-chain asset transfers and execution of multi-chain smart contracts within the Cosmos ecosystem.

NTRN Tokenomics

The NTRN token is the native cryptocurrency of the Neutron network. There will only ever be 1 billion NTRN tokens, all of which were pre-mined. As is typical for projects that have pre-mined their tokens, there is a vesting period. This means the tokens that will be given to early investors, the team, or even just tokens which are still held in the Neutron reserve, are released slowly over time to ensure the price is not collapsed by excessive sell pressure from newly released tokens.

Permissionless Nature

One of Neutron's key strengths is its permission-less nature, eliminating the need for smart contracts to undergo a whitelisting process through a governance vote. This allows for greater flexibility and ease of development, making it more accessible to a wider range of users.

Governance and Airdrop

Neutron has received a significant airdrop, which is being discussed for various uses, such as providing liquidity, paying validators, and offering grants. The community is actively involved in deciding how to utilize these funds to benefit both Neutron and the Cosmos ecosystem.

Trading and Price Prediction

NTRN tokens can be traded on exchanges, and their price is subject to market fluctuations. While there are positive predictions for the token's future, it is essential to do thorough research and consider multiple factors before investing.

In summary, Neutron is a robust and secure platform that leverages the power of Tendermint and Cosmos SDK to facilitate Interchain DeFi and enable seamless smart contract deployment across multiple blockchains. Its permission-less nature, robust consensus algorithm, and modular design make it an attractive choice for developers and users alike.

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Neutron's strengths

Neutron (NTRN) has several strengths that make it a promising blockchain platform:

  1. High Interoperability: Neutron allows developers to build cross-chain applications that can scale over a network of 50+ interconnected blockchains, facilitating seamless interchain interactions.

  2. Replicated Security: Neutron is secured by Interchain Security, which leverages the Cosmos Hub for added security. This mechanism allows ATOM staked on the Cosmos Hub to also secure the Neutron network via IBC.

  3. Permissionless Nature: Neutron eliminates the need for smart contracts to undergo a whitelisting process through governance votes, making it more accessible and flexible for developers.

  1. CosmWasm and Tendermint: Neutron utilizes the Cosmos SDK and Tendermint consensus algorithm, ensuring high transaction throughput and robust security through Byzantine Fault Tolerance (BFT).

  2. Inter-Blockchain Communication (IBC): Neutron's IBC enables efficient cross-chain asset transfers and the execution of multi-chain smart contracts within the Cosmos ecosystem, enhancing its interchain capabilities.

  3. NTRN Token Utility: The NTRN token serves multiple purposes, including payment for network fees, governance, and as a foundational asset in DeFi applications.

These strengths position Neutron as a robust and versatile platform for building secure, scalable, and interoperable decentralized applications.

Neutron's risks

Neutron (NTRN) carries several risks:

  1. Regulatory Risks: NTRN is considered a high-risk investment due to its potential classification as an unregistered security. This could lead to legal issues and regulatory actions, particularly in the United States.

  2. Market Volatility: As a relatively new cryptocurrency, NTRN is subject to significant price fluctuations. Its market capitalization and trading volume can be easily manipulated, making it a high-risk investment.

  3. Centralized Control: Unlike decentralized networks, NTRN is controlled by its developers and insiders, which can lead to concerns about the concentration of power and potential manipulation.

  1. Security Risks: NTRN's Proof-of-Stake (PoS) consensus mechanism, while energy-efficient, can be vulnerable to attacks if a significant portion of the network is controlled by a single entity or group.

  2. Liquidity Risks: The liquidity of NTRN can be limited, making it difficult for investors to quickly buy or sell the token, which can exacerbate price volatility.

  3. Information Risks: The accuracy and completeness of information about NTRN can be uncertain, and investors should be cautious when relying on price predictions or market analysis.

Overall, investing in Neutron (NTRN) requires careful consideration of these risks and thorough research to make informed decisions.

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Did Neutron raise funds?

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Neutron’s team

  • Avril Duthiel: Founder and former Lido DAO (LDO) community manager.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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