From a technological solution, the two applications have a great deal in common. Here is a rundown of the attributes of both. NEO and Ethereum are good investments right now. Both are far cheaper than Bitcoin, and Ethereum seems to be less susceptible to extreme price fluctuations than Bitcoin. Ethereum is a better all-around investment right now because it is widely accepted as a payment solution.
Almost all of the centralized cryptocurrency exchanges allow for trading in Ethereum and some of them accept payment in it. There are also a few Visa or MasterCard debit cards that convert Ether to government money planned. This makes Ethereum a good hedging mechanism — a hedge is an investment that is supposed to protect your cash against inflation.
Many people in nations experiencing inflation or hyperinflation are using Bitcoin and Ether as hedges right now. NEO is a far better value investment because it is currently much cheaper than Ether. That means a person that wants to buy and hold cryptocurrency for the future might be better served by NEO. Somebody who needs an altcoin that can be converted into fiat currency fast will be better off investing in Ethereum. A smarter strategy would be to buy both NEO and Ethereum.
Both are really good coins with a lot of potential for growth because of the unique capabilities. A combination of them would diversify a portfolio against market losses. The most intriguing possibility for these currencies is that Ethereum and NEO will converge into one ecosystem at some point in the near future. Such a convergence is more likely than you think because of the similarities between the two solutions.
Since there are already digital wallets that can convert several different cryptocurrencies into altcoins at once such a synthesis is technologically possible right now. The interesting question will be, will the developers behind the solutions accept it. An example of such a convergence would be a smart-contract bond that pays out in both Ethereum and NEO. Another would be a blockchain security that contains both Ether and NEO.
The long-term result of this will be a vast blockchain ecosystem similar to the Internet in which both Ethereum and NEO apps operate. Ethereum or NEO applications would serve as gateways to the ecosystem, much as Google functions as a gateway to the internet for many users. At that point, there would be no real distinction between Ethereum and NEO for most users. Many people would use them interchangeably and not realize that they are doing so.
Another great question to ask here is which will become the standard open-sourced blockchain architecture: Ethereum or NEO. Ethereum has a head start, but NEO has more resources behind it. Currently, Ethereum has the edge because there is far more you can do with it. That may change as more NEO-based solutions appear.
A big advantage that NEO may have is that the Chinese government may adopt it and force Chinese citizens to use it. Another is that large corporations might have to use Ethereum if they want to operate in China or do business with the Chinese government.
Another possibility is that the Chinese government may try to ban or suppress Ethereum, which would make NEO the only solution available to 1. A final scenario is that NEO might be the only cryptocurrency converted by debit cards in China. Both Ethereum and NEO are advanced cryptocurrencies that have far more potential value than Bitcoin because of their greater versatility. If instruments like smart contracts become widely accepted, both Ether and NEO will greatly increase in value.
All cryptocurrency investors need to research both NEO and Ethereum. Any time that you spend researching NEO will be well-spent. It is likely to become the next big cryptocurrency and drive up the price of Ether in the process. Your email address will not be published. NEO vs. What are Ethereum and NEO anyway? Who controls the Blockchain Another major difference is that Ethereum is a wide-open network similar to Linux that any developer can participate in.
Ethereum vs. Ethereum Highpoints Open-sourced architecture. Totally decentralized nobody is in control. Widely accepted. Traded and accepted by most large centralized exchanges including CEX. Visa and MasterCards that can convert Ethereum into fiat currencies are available on a limited basis. Totally decentralized. Organizations like the Ethereum Project act as clearinghouses for projects rather than as an authority.
Based, or created in Switzerland, so it is theoretically politically neutral and not connected to any government. Has been adopted by larger corporations including IBM. Has the potential to become a data storage solution. Virtual machine. Possible connection with Microsoft. NEO has a great opportunity of capturing the massive Chinese market and other Asian markets.
So, these are the main points of differentiation between Ethereum and NEO. Looking at the advantages offered by NEO, it is clear why it is being referred to as the next Ethereum. Another important factor which is very important for any cryptocurrency is the people behind them. As far as the team is concerned, I would say that both NEO and Ethereum have great teams backing them.
He is a Russian-Canadian programmer who is just 24 years old. He became interested in Bitcoin at a very early age and co-founded Bitcoin Magazine. He, along with other co-founders, went on to develop and launch Ethereum in Since then, he has been one of the most leading voices in the cryptocurrency and blockchain community. Vitalik Buterin and the rest of the team have played a major role in taking the technology of Bitcoin to the next level. They are still continuously innovating to overcome the technological challenges that Ethereum currently faces.
Some of the original members of the Ethereum team that co-founded it have gone on to found other projects of their own. This includes Charles Hoskinson, who founded Cardano. Da Hongfei, the founder of NEO, also has a long-standing history in the blockchain. He founded AntShares in February to create a platform for building decentralized apps. Are you wondering what AntShares is? AntShares got rebranded to NEO only in So, as you can see, NEO has a strong foundation too.
The founding team has been a part of the blockchain and cryptocurrency ecosystem since the very beginning. Now you can see that NEO and Ethereum are backed by equally competent teams. The only major difference is that Ethereum has a bigger community of developers supporting its development as compared to NEO.
Looking for more in-depth information on related topics? We have gathered similar articles for you to spare your time. Take a look! Bitcoin alternative guide: find your best altcoins and biggest Bitcoin competitors in the complete Bitcoin alternative guide. Lightning network explained: learn what is Bitcoin Lightning network and how does in work in this complete Lightning network guide. Most of you would know that the technology at the core of cryptocurrencies is blockchain.
As expected, cryptocurrencies with more robust and scalable blockchains, are technically superior. Since blockchain is a decentralized, peer-to-peer network, there is no one leader who can take important decisions. So, how are the decisions made?
How do you decide whether a cryptocurrency transaction is valid or not? Any transaction on a blockchain is confirmed when the network participants come to the consensus group agreement that it is a valid transaction. This method of decision-making is known as a consensus mechanism. Following are the important factors in the NEO vs Ethereum battle that depend on the efficiency of the consensus mechanism:.
There are several popular mechanisms and cryptocurrencies can be differentiated based on the type of consensus mechanism they use. This is an improved version of the Proof-of-Stake PoS mechanism. Ethereum, on the other hand, uses a Proof-of-Work PoW mechanism. As you can see, NEO is already far ahead of Ethereum in terms of the consensus mechanism.
Ethereum is still using a very expensive and inefficient consensus mechanism PoW. This definitely gives NEO an edge. The good news for Ethereum supporters is that Ethereum is in the process of upgrading their consensus mechanism to PoS, which is much more efficient than PoW.
Vitalik has also indicated that they may be implementing another solution, called Sharding, for further scalability. So, what will sharding do? In PoW, all network participants are required to validate each transaction. While in sharding, only a small subset of network participants will carry out the validation of each transaction. So, a higher number of transactions will get validated simultaneously by different subsets, therefore improving the scalability. This would make things a lot brighter for the future of Ethereum.
As far as scalability and consensus mechanisms are concerned, NEO is winning the game so far, but Ethereum is catching up with it. What remains to be seen is how fast Ethereum can bring about these changes. Now that you know most of the key points of this NEO vs Ethereum debate, I will take you through their journey so far. Let's go through NEO vs Ethereum histories to see who is the leader. Ethereum was launched in , with a purpose to improve upon the limitations of Bitcoin.
While the development of the project began in , the platform itself was launched in July In , a decentralized autonomous organization DAO was created in order to raise funds for the Ethereum project. All the three companies together formed Legal China with an intention to solve several deficiencies of legal digital applications. I will now take you through the historical price trends of both the cryptocurrencies.
Being the first cryptocurrency to offer a platform for smart contracts development, Ethereum got huge support from the investors and developers. Now let's see what the competition has to offer in the NEO vs Ethereum battle.
If you are thinking that it is too difficult to beat the returns given by Ethereum then you are wrong. Riding on the support of the Chinese government and good technology, NEO has performed extremely well. Mind blowing, right? Ethereum is the clear winner when it comes to popularity. It has a huge following of investors, developers and enthusiasts.
It is also the most adopted. That said, Ethereum needs to improve on various aspects that NEO is better in, including scalability. Earn passive crypto gains with the all-encompassing Binance Earn platform! Learn about Binance staking, and start earning passive interest on your crypto in a few easy steps!
You know that NEO is being considered as the next Ethereum because of the advantages it offers over Ethereum in terms of technology. You also know that Ethereum has the upper hand in terms of adoption and popularity. Undoubtedly, NEO vs Ethereum is a tough debate and it is difficult to say who is the winner.
These are extremely early days and we still have a lot to see — only time will tell. What do you think? Is it NEO, or do you think we're set for an Ethereum future? We do not publish biased feedback or spam. So if you want to share your experience, opinion or give advice - the scene is yours! Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally.
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