NEO boosts blockchain security with Certik partnership: NEO/USD bullish momentum returns above $28.00

NEO is constantly aware that security and success in the cryptocurrency industry projects go hand in hand. The wide adoption of the blockchain technology, as well as the digital assets, demands that security is highly regarded.

NEO has today, August 1 announced a partnership with Certik; a “formal verification platform for smart contracts and blockchain ecosystems, to enhance the security of its platform.” Certik will also work on a solution for NEO specifically designed solution that will be used for verification purposes for NEO’s digital assets and digital identity on the platform. NEO has the vision to develop a Smart Economy ecosystem and this partnership takes it a step closer to its goals.

Certik is a company based in New York but also has operations in Silicon Valley. It developed one of the most secure operating systems, CertiKOS. The OS is used by both the military and governments due to its resistance to hack attacks. While commenting on the partnership, NEO Global Development manager, Zhao Chen said according to NEO Smart Economy Medium:

“NEO is a high-speed autonomous public chain. With more developers building layers on top of it, this added security layer will expedite the prosperity of the ecosystem. I believe NEO and CertiK’s partnership is on track to changing the course of history.”

NEO price analysis

NEO has begun correcting higher in the wake of the overarching declines that have sent most assets in the market spiraling though support areas. NEO/USD found a support above $28.00 allowing the buyers to enter and stage a sustained pullback that is currently making attempts on breaking above $30.00 resistance. The 100-day simple moving average on the hourly chart is also limiting gains at $29.93. Moreover, the upper limit of the rising wedge pattern will also prevent higher movements slightly above $30.00.

The technical indicators on the hourly chart are showing bullish signals for now and could stay the same way in the short-term. On the flipside, the fib levels between the highs of $30.44 and lows of $28.47 will offer short-term support in the event of a trend reversal but the major support sits at $28.00.