NEO vs. Ethereum
Recently, the world’s market of cryptocurrency has been competitive. The kind of competition we currently have has not been as stiff as it is now, as many new players have emerged in this space. The development and entry of fresh cryptocurrencies lead greatly as a contribution to this competition as every cryptocurrency is vying to get to the topmost position. There are pairs of coins which are in competition with each other. One of the newest developments in the competition of cryptocurrencies offered by Ethereum and NEO. The competition between these two cryptocurrency platforms has become the talk of the day and debates on it are increasing.
We can consider Ethereum as Goliath, and NEO as symbolic of David. Also, when we consider Ethereum as Brad Pitt, then we can see NEO as Zach Pitt, who happens to be a relative to Brad Pitt.
As most crypto enthusiasts would know, the launching of the Ethereum platform saw the light of the day before NEO. It brought a great level of revolution and excitement to the world of cryptocurrency. Its coming was with a bang into the market of already existing cryptocurrencies. Many relatively old and new cryptocurrency platforms, during the offering of their initial coin offerings (ICOs) have leveraged the Ethereum network for the development of their tokens and other features it offers. However, with the intro of NEO, users are provided with an alternative to do pretty much the same thing.
NEO has tried to improve upon Ethereum’s functionality, while also managing to gain a respectable level of adoption. It is working tirelessly with every effort to come to the same level of position with Ethereum and overtake its current position. It takes a stiff competition to maintain or take over the number two position crypto-platform in terms of market cap. NEO is gaining grounds in its bid to take over the new position. So, some individuals take NEO to be the future Ethereum. Undoubtedly, it has found its rightful place in the world of cryptocurrency. A number of crypto devotees refer to NEO as the Ethereum of the future.
Cryptocurrency With Utility
It is very beneficial to know the distinguishing factors between these two cryptocurrency platforms, NEO and Ethereum. What factors could give NEO the edge and maybe become the Ethereum of the next generation?
When we talk about DApps, it is often a software system that provides and supports the smooth operation of buying and selling typically on the platform of distributed ledger technology, such as the blockchain. (This is only one use case for DApps.) Ethereum and NEO serve as the building blocks or engine in the powering of Decentralized Applications, or DApps, for many crypto platforms. Smart contracts are offered by both Ethereum and NEO, and they’re called “smart” because they are automated and do not require third-parties for executing contractual terms. Their policies along with contract agreements and conditions are programmed through computer code.
NEO executes 10,000 transactions per second whereas Ethereum can only handle 15 transactions at every second. There is a big difference in the speed at which both execute transactions. With the speed of NEO, it provides better and faster service than both Ethereum and Bitcoin. Unlike Ethereum, NEO is “indivisible”. The transfer of smaller units of NEO like 1.7 NEO is not possible.
Moreover, NEO was created in China, which is known for creating good alternatives to the world’s popular inventions. We can see such creativity in the areas of Alibaba as a substitute to Amazon and WeChat as an alternative for WhatsApp. The same thing is applicable for the purpose of inventing NEO. It serves very well as an Ethereum substitute. NEO also profits greatly from the government’s support.
NEO also supports a wide array of programming languages such as C++, C#, Java and Go. Hence, it is developer friendly as many have come to embrace it. An entry developer can easily flow on the NEO platform and develop robust applications. Contrariwise, Ethereum only supports the use of a singular language Solidity. Since it is new and a language only for the Ethereum platform, only a few developers can work with it.