Connect with us

Blogs

EOS vs NEO – Which One will Replace Ethereum?

Published

on

Ethereum
READ LATER - DOWNLOAD THIS POST AS PDF

Ever since Bitcoin first came to be, back in 2009, the future of online payments has started to change, and it pretty much never stopped. Now, nearly a decade later, there are over 1800 cryptos, waiting for their chance to shine. One of the biggest cryptos, Ethereum (ETH), which is second only to Bitcoin, seems like it might soon be replaced, and the most important question right now is – by whom?

It has been almost a decade since Bitcoin first appeared and brought change to the online world. It presented a new way of transferring funds, making payments, and it hinted at the possibility of the world without fiat currencies. Due to its imperfections, and the majority of possibilities that this new concept has brought up, other cryptos first started to emerge.

Ethereum was dubbed the first crypto of the second wave of digital currencies. It is still the second most successful crypto in the world, and it managed to achieve this status thanks to an improvement that Bitcoin’s blockchain did not offer – the possibility of smart contracts and the use of ERC-20 tokens. Thanks to these innovations, Ethereum allowed pretty much anyone to develop their own coin by using its own network and blockchain. That is how some major cryptos that we know today (EOS, TRX, IOST) originally came to be.

As time went by, new coins started appearing, each with their own improvements on Ethereum, as well as Bitcoin, which is what brings us to where we are now. Since Ethereum managed to improve on Bitcoin and replace it in some ways, it is expected that the same will soon happen to ETH as well. So far, the most likely candidates to do this are NEO and EOS.

Both coins have seen a lot of success recently, and EOS even managed to launch its MainNet, only days ago. Still, if Ethereum doesn’t start improving, and soon, it will be replaced. The only thing left to be determined is which of these coins will be the first to do it?

NEO

NEO is a cryptocurrency that comes from China, and it has the full support of both, this country, and its government. Naturally, this means a lot and allows it to have quite a force to rely on. Its goal is to help in the digitalization of assets, and it does that by using digital identity tech. Its platform is completely decentralized, and it can run various apps, no matter if they are written in Java, JavaScript, C, or C++.

Thanks to this fact, NEO has become incredibly practical, since pretty much any computer programmer in the world can use it for writing dApps. It is much easier to do it this way than to expect the users to learn an entirely new language.

So far, NEO has been a host to some pretty large apps and projects. One of them, Ontology, is actually pretty well-known, and it represents a platform that allows the creation of smart contracts that are completely customized. The platform does this via NEO’s very own blockchain, and it is only one of many. Some other names that many might recognize include Zeepin, Switcheo, Thekey, NEX, Moonlight, and RedPulse. Whether the western part of the world wants to admit it or not, NEO is still one of the strongest cryptos around today.

EOS

Next, we have EOS. This is the creation and possession of the organization known as Block.one. EOS has been growing lately, mostly because of the promise of a soon launch of its MainNet. The launch happened several days ago now, and it started well until it reached its first glitch. Still, the team handled it quickly and efficiently, and the network is currently working as it should once again.

The MainNet’s name is EOSIO, and it is basically a blockchain-based platform that allows for many different kinds of services. Those include cloud storage, accounts, databases, hosting, even authentication, and more. Its dApps have a pretty good reputation as well, and many claim that they can do anything that can be done via a centralized server, and even exceed the quality.

Thanks to EOSIO, this crypto now offers a huge number of transactions per every second, and the best part is that the fees are so low that they basically don’t even exist. This has placed EOS far above most of its competition.

Which one will replace ETH?

Both of these cryptos have a lot of potentials, and they both definitely have a good chance to replace ETH. On the one hand, EOS seems to have taken a lead, and it currently has the best year that it had since it was created. That, however, doesn’t mean that NEO is out of the race, and a lot is expected to come from this crypto too. And, let’s not forget that this is a crypto that entire China is backing up, which is a lot of support.

If its community remains strong through the trials that the MainNet launch is putting it through, EOS will probably go worldwide in the near future. If something happens and EOS loses its focus, it could easily be left behind by NEO. There is no current answer regarding which crypto will replace ETH, but a lot of experts believe that it will probably be one of these two.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Blogs

Reasons Why You Are Much Safer When Crypto Trading on Dexes

Published

on

DEXes
READ LATER - DOWNLOAD THIS POST AS PDF

While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

Continue Reading

Blogs

Crypto Billionaire Predicts Massive Price Growth by 2021

Published

on

crypto billionaire
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

Continue Reading

Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

Published

on

TokenRoll
READ LATER - DOWNLOAD THIS POST AS PDF

Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

Continue Reading

Elite