Created by Vitalik Buterin, Ethereum is the 2nd most popular cryptocurrency behind bitcoin,The creators of Ethereum wanted to use its technology to take the place of third-party apps or entities that store people’s data and keep track of complex financial happenings.It’s a blockchain platform with its very own cryptocurrency, Ethereum’s native is called Ether, The platform even has its own programming language, called Solidity
On the other hand Neo is Founded in China by Da Hongfei and Erik Zhan in 2014, NEO is a cryptocurrency that many people have dubbed, “the Chinese Ethereum.” When it first appeared on the scene, it was called “AntShares” but the name later changed to NEO. It’s blockchain-based platform that is capable of supporting its own currency and even can handle the development of digital assets and smart contracts – just like Ethereum.
Although they may be similar in many ways, Ethereum and NEO do have their fair share of differences. The first being that Neo is backed by the Chinese Government, whereas Ethereum’s developers and supports form a democratic foundation,The fact that the Chinese government has made statements in NEO’s favor, has helped the altcoin soar in popularity in recent years.
The second major difference between NEO and ETH, their relative mechanisms. Neo is known for its energy-efficient consensus mechanism that’s called dBFT, which stands for decentralized Byzantium Fault Tolerant, which allows it to function at a much faster rate of 10,000 transactions per second, And lastly, the Neo supports more computer languages such as Java and C#. Ethereum on the other hand uses Solidity.
Ethereum is facing lack of scalability issues, there are many cryptocurrency projects out there that claimed they are going to solve the scalability issue of Ethereum blockchain, but it's still not resolved, after all ethereum team decided to move from pow to pos algorithm called it Ethereum 2.0, is a multi stage process, higher Fees other issues will stay same for the foreseeable future, ethereum 2.0 is still in process not implemented completely, infect which pos algorithm ethereum going to use its already used by Some other papular cryptocurrency and blockchain projects like neo, cardano etc, ethereum team take years to just decide proof of stake is better than the proof of work
Centralisation is also arguably going to become a bigger problem for Ethereum, top addresses are accumulating and holding more and more supply of Ethereum coins, There are many investors who think that ETH will not see real adoption I am also one of them, because it's not truely decentralized and have Most higher transactions fee as compared to its competitors along wite low tps
On the other hand After the restrictions on cryptocurrency transactions imposed by China's government, NEO has the potential to emerge as the cryptocurrency of choice in the heavily regulated nation, and perhaps across the globe. Since its inception, NEO’s Onchain technology was designed to be regulator-friendly with a centralized approach that is quite different from that of most cryptocurrencies, That may help it survive and thrive even in China
The NEO platform acts as the foundation of Onchain’s DNA concept. NEO provides decentralized, public blockchains while OnChain’s DNA fills the need for private blockchains. Linking these systems may enable the best of both worlds, Onchain has already received an endorsement for DNA from the government of Guiyang, the capital of Guizhou province of Southwest China, Being local Chinese ventures, NEO and Onchain would be the top contenders if this is true.If the promising Onchain technology can be accepted and integrated with the Chinese government and businesses enabling an all-inclusive solution, it will greatly increase widespread adoption of NEO.
Neo don't have any scalability related issues like higher transactions fee and its growing and developing day by day, I think ethereum is highly overvalued and over hyped cryptocurrency project it's out of the reach of normal investors, because millions of people in the world are not able to save
$.2500 per month it mean they can not able to buy a single ethereum coin, ethereum is also facing fundamental level issues from day one, I don't see a single feature In ethereum blochain which I can't able to find any other blockchain project
I am currently focusing on hive blockchain and its Ecosystem, I don't have extra capital to invest in any other blockchain project, if have I will definitely do my own research on cheap and fundamentally better blockchain projects instead of Ethereum, like NEO, Cardano and polkadot and I invest in these projects instead of Ethereum only price and big players support is not enough for Ethereum to get mainstream adoption
What you think about ethereum, NEO and other ethereum competitors I love to know your opinion
Thanks for reading 🤝🏼
