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NEO Might Slay Ethereum in 2018, Here’s Why

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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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What Changes May the Crypto Space Experience in 2019

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After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.

However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.

Bitcoin ETF approval

The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.

Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…

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Reasons Why 2019 May Be A Great Year For Crypto

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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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3 Coins with the Largest Potential in 2019

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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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