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NEO Might Slay Ethereum in 2018, Here’s Why - Global Coin Report
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NEO Might Slay Ethereum in 2018, Here’s Why

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NEO
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While big cryptocurrencies like Bitcoin and Ethereum are all the rage, smaller coins like NEO are rapidly gaining popularity among investors who are looking beyond the big market players. Ethereum, the smart contract-based blockchain, which went live on 30 July 2015, has grown over the years to become one of the largest blockchain networks. Although the Ethereum Enterprise Alliance (EEA) is collaborating with thousands of influential enterprises in various domains from banking to healthcare, the cryptocurrency has its own set of limitations. From the lack of documentation to frequent security breaches, Ethereum has been slammed by critics for its inefficiencies. NEO, on the other hand, is a renowned Chinese blockchain platform that anticipates resolving the challenges of Ethereum-based smart contracts solutions. Often recognized as” the One”, or simply “the Ethereum killer”, the digital platform deploys digital assets, DApps and smart contracts to provide users with smart blockchain solutions.

NEO, the Ethereum Killer

As a dynamic blockchain project, NEO resolves to mitigate the key challenges of the existing systems, which include scalability and regulatory issues. Due to some strategic partnerships and constant support from the Asian crypto community, NEO has scaled up appreciably and is widely accepted as a promising altcoin in the crypto space.

Functional since 2014, NEO was initially called Antshares. Subsequently, after two major crowd sales in 2015, NEO gained great momentums in the market. Going by the figures, on these two occasions, over 17.5 million and 22.5 million NEO were distributed for $550.000 and $4.5 million respectively.  Over the years, the popularity of NEO has witnessed a steady rise, wherein it is labeled as the Chinese Ethereum or the Ethereum Killer.

NEO’s Competitive Advantages over Ethereum 

Looking at the noise in the market, there has been a boom in the cryptocurrency market with many ambitious projects making groundbreaking moves to eliminate the challenges of the big blockchains. When compared to Ethereum, NEO, which is also regarded as the nemesis of Ethereum, boasts a number of competitive advantages over its competitor. The following points summarise the top advantages of this ambitious blockchain network:

  • NEO, which leverages smart contracts to power its decentralized applications, is inching towards a smart economy by being regulatory compliant. As evident from the mass reception, the vigilance from regulators has become strict, so it is natural to expect more scrutiny from the regulatory bodies in 2018. By prioritizing regulatory compliance, NEO has strategically placed itself ahead of the competitors.
  • Also, NEO capitalizes on DApps language, one of the most critical languages available in the market. While users need to rely on solidity in case of Ethereum, DApps offers a smarter alternative.
  • As per the latest updates, Binance is working closely with NEO to expand the list of NEP-5 tokens. Now that NEO has joined hands with Binance, NEO is one step closer to actualizing its goal.
  • Going forward, NEO can yield up to 10,000 transactions per second, which is impossible to imagine with ETH. Besides, NEO has recorded fewer scalability issues than its peers. Technically speaking, NEO’s technology is more forward-looking, which places him ahead of its competitors.
  • The big names like BTC and ETH are often criticised for its high transaction fees. In this regard, NEO comes across as an economical solution, as it charges no transaction charges.
  • The Quantum Computer Resistance offers a great degree of security, as it vows to protect users from security challenges.

NEO and the Market

NEO, a blockchain project developed for ICOs and DApps, stands for Smart-Economy solutions, whereby users can expect leading-edge applications like digital identity registration and digitization of financial assets. For its unique approaches to decentralized applications, NEO has generated a lot of noise in the crypto community and owing to the successful marketing campaign, its growth has been meteoric, to say the least. When compared to the first listed price of $0.172 in November, it has come a long way, rising by a striking 30,870%.

As per the price records of the last few weeks, NEO has experienced a drop in its value. While NEO is struggling to overturn the bearish sentiment, the big players, which include Ethereum, are trading in the red.  As of 13th June 2018, NEO is trading at $39.40. Ranking 11 by market capitalization, the altcoin records a market capitalization of $2,560,993,500 at the time of writing.

Final Thoughts

Bitcoin, which uses proof of work algorithm to run its functions, has been challenged by the more recent blockchain projects. When Ethereum was first introduced back in 2015, it was a game changer in many ways, challenging the way the blockchain technology was perceived. By introducing smart contracts and Proof of Concept protocol, Ethereum has brought new approaches to decentralization. In the meantime, many advanced blockchain projects have sprouted to challenge the ascendancy of ETH, and among the top challengers, NEO emerges as a potential threat. Unlike Ethereum, which uses smart Solidity to write its smart contracts, NEO enables programmers to use a variety of languages, offering unprecedented flexibility to the users. In any case, reviewing the prospects of NEO, it is not difficult to imagine this formidable blockchain platform as a potential Ethereum killer.

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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.

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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