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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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