Hello Steemians!
Today we compare two projects: NEO and Ethereum. Both are platforms which we can use to create decentralized applications based on Smart Contracts. NEO (formerly known as AntShares) is not as popular as Ethereum (yet), but their technology is really advanced. In this post, we show the difference between this platforms. We have to choose a platform for our project, so we will appreciate your opinion. Which one will be better in your opinion?
Few words about Ethereum
Currently Ethereum is the most popular platform for creating smart contracts. Smart contract is the description of specific computer code that can facilitate the exchange of money, content, property, share or basically anything of value. It automatically executes when specific conditions are met. Because smart contracts run on blockchain they run exactly as programmed - there’s no possibility to change them meanwhile.
Ethereum gives the opportunity to developers to build and deploy decentralized applications, also called Dapps. They are made up of code that runs on a blockchain network, which cannot be controlled by any individual or central entity. Actually any centralized service can be decentralized using Ethereum. In order to program apps in Ethereum platform you have to get on well with Solidity, which is a high-level language whose syntax is similar to that of JavaScript.
Ethereum can also be used to build Decentralized Autonomous Organizations (DAO). A DAO is fully autonomous, decentralized organization without a single leader. It run by a code, which consists of many smart contracts written on Ethereum blockchain. The code eliminates the need of control like in traditions organizations.
Few words about NEO
Neo is game changer in creating decentralized applications, because this platform allows programming in common languages like C#, Java or Go. It means programmers don't have to learn any unique language like Solidity which is necessary to make Ethereum based projects.
Neo is Chinese platform and they even have support from Chinese government. They are also supported by solid partnerships, with Microsoft, Alibaba, Wings, Bancor, Coindash, etc. It's one of the reasons of rapid growths.
They created their own consensus algorithm, called distributed Byzantine fault tolerance or dBFT. This algorithm is more energy efficient than proof-or-work or proof-of-stake models. Really interesting fact is average block time on NEO is 120 times less than on Ethereum network and 6000 times less than on Bitcoin network.
Now important question for You
Which platform should we choose for our project? NEO or Etherem? We are waiting for your comments :)
Best regards from
@websensei
@awareentity
Right now? Ethereum.
In the future? Nobody knows.
NEO is a very good investment right now, but that doesnt make ETH worse investment. Both can shoot to the stars.
Me personaly, I missed the ETH price come up so Im grateful for second chance in form of NEO.
ETH is safer bet, NEO might be more profitable. Im investing 2:1 (ETH:NEO)
Thanks for comment @andrejcibik :) We are thinking about Ethereum and NEO as an investment, but more important than coin value, for our project is specification of these platforms. NEO team solved many problems which Ethereum still has.
Google wasnt first search engine, amazon wasnt first online retailer, facebook wasnt first social media, apple wasnt first at anything :D
Ethereum IS first at smart contracts. How I see it, if they dont improve massively they will be left behind.
Even switching to PoS is a huge huge problem for ETH and PoS is the future.
Thanks for laying out the differences. It would appear you're leaning towards NEO; I am.
Now, if only they'd get onto supporting OSX and wallet... people shouldn't have to find work arounds and tricks AND use a LOT of patience trying to get a wallet sync - only to see it fail at 99+%! I'm a believer in NEO, but it'd be good if they'd make it easier to love... I'm sure that, in time, the NEO Team will sort the issues, but in the meantime - well, back to GitHub for more work around suggestions. The recent uptick in value does soothe the restless spirit though...
Thanks for comment @tasmansee. NEO is not perfect yet, but looks much more promising for the future than Ethereum. We are also looking for first ICO's on NEO. It will be great test drive for this platform.
I had heard that modifying smart contracts deployed to the blockchain is easier with NEO. However, in the few minutes I just spent trying to confirm, I did not find any additional info. I am interested to learn more of your perspective as your decision progresses.
Thanks for comment @jamerican-js :) NEO is really interesting platform, but not as well tested as Ethereum. There are a lot of ICO's on Ethereum and for NEO it's just a start. It's really important decision for now and we are trying to choose the best solution. Still we have many questions, but I'm sure we will make a right decision in next few days.
Are you concerned about the collateral damage to the Ethereum ecosystem when ICO bubble bursts or if Ethereum fails to deliver good scaling solutions?
Both things are potential threats. Ethereum scaling is underdeveloped and on NEO it seems better in the specification. Anyway, we plan to talk with NEO team about it.
Based on what you wrote, there is no doubt that NEO is more modern and advantageous.
Thanks for comment @discernente :)
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