Icon vs neo vs ethereum

Ethereum debate, and you are wondering whether all the price predictions you have listened to are trustworthy. The cryptocurrency market is highly speculative, and things can change instantaneously. Ethereum has earned itself a strong position in crypto space because of significant partnerships and use cases. You want to clearly understand and appreciate the tokens risks before making a larger investment. Should you Invest in NEO?

The process of releasing the cryptocurrency is embedded in a smart contract that issues 15 million coins annually. The consistent release of NEO coins is one of the factors that lend the token its stability. These are clear advantages that make it easier to defend an investment in NEO. But should you invest in NEO? That question is much harder to answer. Experts believe that the NEO vs. Ethereum battle is a royal battle because of the way the coins are similar.

This Ethereum vs. Both Ethereum and NEO are open-source blockchains that can execute Dapps and smart contracts and they have both managed to gain massive corporate support. NEO also managed to patch up some holes the made Ether contracts vulnerable to hackers. Ethereum battle-royale and, as such, you want to do enough research before making a decision.

Overall, for the investor, you want to remember that even though cryptocurrency restrictions placed on the Ethereum of the East in Asian countries can hinder the growth of the network, NEO has shown potential to catch up with Ethereum. As for what to choose in Ethereum vs. NEO, you must make that decision yourself as an investor. Which Should You Buy? There is no straight answer to that question. You need to make that decision yourself. The majority of these nodes are currently operated by the NEO team.

I would however argue that Ethereum is also not as decentralized as you might think. In addition, while I trust Vitalik Buterin, he does have enormous power and influence over the direction of Ethereum. Ethereum will transition to a PoS protocol in the future. They already have begun the process and the mining difficulty of confirming new blocks will increase exponentially until it is impossible to mine anymore and everyone must transition to the PoS protocol.

This will happen but it is likely more than a year out. Now when we compare these, there are both theoretical and practical speeds. Theoretical transaction speeds are the absolute maximum speed mathematically possible for the network. Ethereum can do 30tps. As protocols improve it is possible that both platforms will approach their theoretical speed. This is an enormous difference and a massive advantage for NEO. Now in exchange for this speed, NEO is not as decentralized as Ethereum.

TLDR: Ethereum can transact at 15tps with a maximum of 30tps. NEO can transact at 1,tps with a maximum of 10,tps. Ethereum has plans and solutions to scale to close this gap. Forking and scaling: Ethereum forks to update its software, just like Bitcoin. I describe this here. After millions were stolen from an Ethereum smart contract, Ethereum forked to refund the money to the original holders.

Whether or not this decision was correct, it divided the community and Ethereum Classic was created alongside Ethereum. Forks happen because there is no finality in the consensus mechanism of Ethereum. Multiple chains in the blockchain can be created at once — ultimately, both are valid chains and can continued to be mined on. Forks happen constantly but are usually resolved when the chain with the most computer power is chosen as legitimate.

NEO has finality. Here is an analogy to understand this. Imagine a first grade class. Timmy asks how much chocolate milk costs. A few students walk over to her in agreement. Most of the room walks over to him.

He has a majority. But if Cynthia is having a particularly stubborn day, she could keep on with her decision — a fork. It might not be the right answer, but she still has a valid answer. This is how Ethereum works. Only in Israel do they have chocolate milk in a bag… NEO works like this.

Imagine the same scenario. Timmy again asks how much chocolate milk costs. With NEO, the bookkeepers each propose the correct state of the next block. The implications of this are huge. Finality is incredibly important for the type of economy NEO hopes to support. They need to know that when their information is placed into the blockchain, it is there for good.

The native token of Ethereum is ether. The gas needed to run the Ethereum network execute contracts, conduct transactions, etc. There is no separation between ether and gas. NEO token holders are entitled to vote for bookkeepers. Such as this one: NEON Bookkeepers are entitled to charge a transaction fee in GAS for general transactions on the blockchain that only they the bookkeepers receive.

The less assets registered, the less rewards NEO holders will get. Thus, NEO holders are incentivized to vote in bookkeepers who will keep transaction fees low. They use the network, benefit from it, and have money staked in NEO. Thus, it is advantageous for them to secure it. It is unclear how rewards will be divided amongst ether holders when Ethereum becomes Proof of Stake.

However, it appears that only large Ethereum holders will be able to stake and receive rewards. No need to run the computer, keep the wallet open, or expend electricity. You could even have your NEO in a paper wallet. The delegated bookkeepers maintain the network; your investment gains interest. This would not be possible without two separate tokens. TLDR: Ethereum has one token: ether. There are huge advantages to having two tokens when using a proof of stake protocol.

With Ethereum, contracts must be written in solidity — A coding language created specifically for Ethereum. NEO on the other hand supports a variety of different languages, including the most commonly known. NEO supports five programming languages with plans to support an additional five in the future.

There are certainly advantages to crafting a particular language for a particular platform. Ethereum developers designed solidity for Ethereum. However, far fewer people know solidity. By supporting the most common coding languages, NEO has an advantage in facilitating adoption. Most programmers today would have to learn solidity before working with Ethereum whereas with NEO, their knowledge is already applicable.

TLDR seriously? NEO supports many different coding languages. The VM is the environment that the smart contract runs in. Thus, if we want to know how efficient and effective smart contracts can be, we need to analyze the VM.

What this means is that it takes the code and reorganizes it to make it more efficient. Imagine your mom gives you a grocery list. But by organizing all the items into categories that I can then pick up together at the same part of the store dairy, canned goods, cereals , my job becomes much quicker and easier. NEO does this; Ethereum does not. Now while this makes things much easier in the long run, in the initial phase it takes a bit longer to organize the list.

Ethereum plans to roll out this mechanism, but there is no timeline for it. Ultimately, this allows NEO to execute and run complex smart contracts faster and more efficiently than Ethereum. Additional Important Differences NEO is theoretically quantum computer resistant, Ethereum is not — When quantum computers develop enough, blockchains could be vulnerable.

NEO has theoretically designed their blockchain to account for this. Ethereum does not have that capability. While there are far smarter people who can explain the technology far more intelligently than me, essentially sk-Snarks is important when we want to have data or contracts whose contents are private or confidential.

We need to maintain the privacy of the data, but at the same time, prove we have ownership of it. NEO has no such capabilities. The First Possibility I think this is the least likely of the two paths to success. Yes, NEO beats Ethereum on several fronts.

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