NEO is relatively a new cryptocurrency for sure but certainly the more advanced than most of the cryptocurrency projects in crypto space. Rather describing as Smart economy than a mere cryptocurrency, NEO works very similar with Ethereum but with some advanced features and bug fixes.
NEO seems to build a link between smart economy and real economy, which certainly is difficult to build and not many projects are working on it. NEO is often called China's Ethereum or Ethereum Killer but those are all just words nothing more. Every project in crypto space has its own relevance and code to begin with.
NEO is the first decentralized, open-source cryptocurrency and blockchain platform launched by China.
The reason being it is called China's Ethereum is because everything which Ethereum can do, NEO can do it too. Although, being a newer project than Ethereum, NEO certainly have some advantages over Ethereum.
NEO has developed his own consensus algorithm which makes it faster than other Blockchains especially Bitcoin and Ethereum. Current transaction speed of NEO is 1000 transactions per second which would be pushed to 10000 by making some improvements in peer to peer network, the NEO team claimed. In fact, team promises to achieve 1,00,000 transactions per second speed by the end of 2020.
In last few months, there were tons of ICO's launched on NEO blockchain which are working perfectly fine and having no major issues at all. Some ICO's running on NEO are Red Pulse (RPX), The Key (KEY), Deep Brain Chain (DBC).
Despite all the technological advancements, people still recognize and use Ethereum more than NEO. The reason being: Ethereum is one of the oldest projects on Blockchain and it holds second largest market capitalisation is crypto space while NEO is holding 12th largest market capitalisation. People are more aware of Ethereum's existence than Neo's.
But in near future, this can change. NEO is currently working on scalablity issues within their Blockchain which are posing a real threat to their project. Once this gets solved, NEO will certainly get a boost in its popularity as well as its price. If you're holding NEO in your wallet, then you're getting GAS as dividend which you won't get in Ethereum. So, by the investment point of view, NEO is certainly better than Ethereum.
Let's hope a good future to NEO blockchain.
Do you believe NEO turn to be the strongest cryptocurrency in 2018?
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