It’s almost mid-2018 now and it might be high time you invested in cryptocurrency. We all know about Ethereum the crypto with 2nd highest market capital who brought Smart Contracts to us. Well, NEO is basically the same. People even call it the “Chinese Ethereum” or “Ether of the East”.
So, is it the same tech? No, in philosophical and technical POV they have many differences. So, let’s check out these two and decide which coin shows more potential. Who is the better contender? It’s NEO vs Ethereum. Let the battle begin!
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NEO vs Ethereum: The Battle of Experience and Youth
Ethereum has the privilege of being the first mover meaning it has more recognition than the new-born Chinese version of it.
But NEO is smarter, younger and faster. They have big names backing them. The Chinese Government is backing it up and also by the state and the national banks. Even the tech-giants like Alibaba and Microsoft are behind the meteoric rise of this altcoin in late 2017.
Philosophically, they both have the same kind of market visualization. Both Ethereum and NEO are non-profit blockchain community that focuses on Smart Contracts or Smart Economy.
Ethereum wallet has the currency named Ether while NEO has NEO and Gas. As said before, Ethereum is older hence hold the 2nd title in the crypto world having a market cap of $57 Billion.
NEO is much young who believes in the same ideology but is in the 11th rank having a market cap of $3.4 Billion. However, NEO cryptocurrency is showing great potential as the NEO cryptocurrency price has jumped to $52.
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NEO has the Tech!
Ethereum just wishes become younger again. But they are deeply rooted in the market and cannot tweak up the tech now. For example, NEO can handle 10,000 transactions per second while Ethereum can handle mere 15.
NEO uses a better-advanced consensus algorithm for validating called dBFT while Ethereum still stuck on the older Proof-of-Stake algorithm. Proof-of-Stake (POS) is considered more power consuming and heavier.
NEO support more common C# and Java. They even intend to add Python and Go as an additional language. So, more and more programmers can take part in the blockchain tech.
Ethereum, on the other hand, uses a bit unorthodox programming language named Solidity. You cannot find an adequate number of coders knowing the language. That’s another minus for the older brother.
NEO also has the better tech to handle hacks and cyber-attacks than Ethereum. How? They have the NeoQS anti-quantum mechanism to tackle these attacks better. As Ethereum doesn’t have such kind of protection measurement, they are slightly back footed.
But there is a huge difference between the nature of these two ecosystems. Ethereum is minable while NEO is not. Moreover, NEO doesn’t allow fractions, they only have the integer numbers. While Ethereum can be bought or sold in fractions.
In this NEO vs Ethereum battle, NEO has the clear edge.
Who has Better Backup and Support?
Ethereum is almost the opposite of NEO. They are against centralization and involvement of government. So, they have a huge number of general fans for standing to the true purpose of cryptocurrency.
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As of now, In this NEO vs Ethereum battle, you should still stick to Ethereum as it is more trusted and in the mainstream for quite some time and slowly begin to close the gap with Bitcoin, the grandfather. You should follow Ethereum news.
But then again, you should keep a keen eye on NEO cryptocurrency news and stay updated with neo cryptocurrency prediction and price. Who will become the new Bitcoin? NEO with its Smart Economy or the Ethereum with the pioneer vision. The choice is up to you and you alone!
New in this world? Take a look at the ultimate beginner’s guide on how to invest in crypto.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. Do your own research and make sure you read our full Disclaimer.