The concept of rivalry is old and can be found in all aspects of life and business. Despite the fact that cryptocurrencies are still considered to be a new technology, even they already have several rivalries within the market. The biggest one, of course, is the one of NEO vs EOS.
Although the two projects are pretty different from one another when you dig more deeply, these two are locked in a competition with the goal of replacing Ethereum. In time, the goal of killing off ETH has become as important to the coins’ communities as the development of the coins themselves.
EOS made a big step when it managed to surpass Litecoin on CoinMarketCap’s list of biggest coins. This has occurred months ago, and EOS managed to hold on to the fifth place despite the bear market of 2018.
NEO, on the other hand, is pretty similar to ETH itself in a lot of aspects. It came to be as AntShares, but it soon rebranded to a new form, which is NEO that we all know and love today. It became a platform with a focus on creating dApps, and it threatens to replace Ethereum in this regard. While Ethereum still remains the second largest coin, many have criticized its dApps, claiming that they lack in quality, even though their number is far superior to that of NEO or EOS.
Even so, ETH still holds the title and remains the top blockchain in the dApp development. However, this might not always be so, and many believe that it will eventually be surpassed by one of the two rivals.
NEO vs EOS: Who will kill off ETH first?
To see which project has the best chance of replacing ETH, we should first take a look at their performance. Ethereum, for example, performs very poorly, despite the fact that it is officially the second largest coin. Ever since it was launched, it was only ever capable of processing about 15 TPS. While it performs twice as good as Bitcoin, this is still a large scalability problem.
As a consequence, the coin’s fees have skyrocketed ever since.
On the other hand, there is EOS. Despite the fact that it started off as an ERC-20 token on Ethereum’s network, it is still capable of processing around 1000 TPS, courtesy of its MainNet. Then, there is NEO, that can achieve as much as 10,000 TPS, which is something that ETH cannot even dream of. This makes NEO the fastest alternative to ETH.
On the other hand, EOS has no transaction fees, which makes it better than both NEO and ETH in that regard.
Now that we are done with performance, it is time to take a look at their technology. One thing that makes these three platforms the same is their desire to dominate the development of dApps. Ethereum is often considered to be the one responsible for their popularity. Even so, for the longest time, ETH has been using PoW, which is responsible for its scalability issues.
There are plans for ETH to implement new technology, likely Zilliqua’s Sharding tech, and if it does, its scalability will likely improve.
NEO, on the other hand, uses a delegated Byzantine Fault Tolerant mechanism, which is basically an improved version of PoS. This is a much more practical solution, which is responsible for NEO being more scalable than ETH.
Finally, EOS uses the pure PoS, which allows it to be faster than ETH, but is still behind NEO. Once again, NEO wins the comparison.
The market situation
While NEO has proven to be superior in nearly every aspect so far, this is the area where it seriously loses to both ETH and EOS. Ethereum has been the second largest crypto for years now, surpassed only by Bitcoin. Close behind is EOS, at the 5th spot, which is the place it has held for a few months now, ever since it surpassed Litecoin. However, NEO is not even in the top 10 anymore.
Instead, the coin is barely balancing on the 14th spot at the moment. Although, it is nothing unusual to see it sink to the rank of 15 every now and then. Obviously, despite all its flaws, Ethereum still manages to hold on to its title and success. In the meanwhile, the NEO vs EOS rivalry continues, with both coins having their strengths and weaknesses, and both trying to be the one who will finally kill off Ethereum.
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
TokenPay (TPAY), Litecoin, and Verge (XVG) alliance about to transpire
Ever since the cryptocurrency sphere was met with the news of the partnership between Litecoin Foundation, TokenPay, and Verge (XVG), the idea of them coming together has been among the most controversial news to ever surface in the cryptocurrency world.
The collaboration managed to even draw the attention of one of the most renowned crypto-influencer and bitcoin campaigner, Tone Vays. In his usual style, Tone took to Twitter handle on hearing the news, tweeting and expressing his disapproval while criticizing the creators of the three cryptocurrencies for allowing such a move to occur.
In retaliation to the attacks from Tone, Charlie Lee, the MD, and founder of Litecoin (LTC) posted his clarification on Reddit on the 17th July in regards to the partnership. Litecoin’s CEO started by explaining the dissimilarities between Litecoin as a currency and Litecoin as a company.
In his remarks, he said that Litecoin as a blockchain and crypto network is a decentralized network, whereas Litecoin Foundation as a company is a centralized non-profit institution whose goal is to ensure Litecoin (LTC) is developed, adopted, and used. Charlie also mentioned that Litecoin’s cryptocurrency and blockchain technologies did not require his direct services at the moment hence his concentration on Litecoin Foundation.
Charlie Lee made his remarks known saying:
“If Litecoin Foundation (LF) is exposed to not doing a good job, nothing should prevent another organisation to step in and do a better job. This is…
Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
4 Things That Will Make An Altcoin Successful
Since the crypto craze began, there have been hundreds of altcoins that have emerged and attempted to take over the world of crypto with their advanced and innovative ideas. While these days there are well over 2,000 individual coins, there have been many more to emerge and disappear, all within the last 10 years.
Clearly, having an idea and launching the coin itself is not enough. While it is by no means easy to do so, there are additional measures and rules that you, as an altcoin creator, need to consider if you want your coin to remain relevant. Clearly, not every idea can succeed, and after 10 years, it is quite difficult to present something new. However, cryptos are still a new technology, which is why there are still many unexplored possibilities that may allow you to reach success.
Secrets to altcoin success
1. Capturing the attention
As mentioned earlier, there is not a lot of things that are simple when it comes to creating altcoins. However, while your plan and idea make sense to you, no matter how complex they end up being, this will not be the case with potential investors. Many of them might give up on getting involved if they do not understand what the coin is all about, or if the road ahead seems too complicated and unclear.
This is why having an idea is not enough. What you need to…
3 Things to Avoid if You Want Your ICO to Succeed
Reasons Behind The New Bitcoin Crash
Ripple’s XRP centralization FUD must go now, here’s why
- Don't Miss2 weeks ago
40 million XRP just got transferred to former Ripple executive Jed McCaleb
- Altcoins1 week ago
What would you buy when Electroneum (ETN) reaches one dollar?
- Altcoins6 days ago
3 Coins Coinbase Will Adopt Next
- Altcoins1 week ago
Stellar (XLM) poised to see massive gains next year, here’re the reasons why
- Altcoins2 weeks ago
Red Pulse: Rise of the Phoenix (PHX)
- Don't Miss2 weeks ago
Is Twitter going to win the ‘Crypto Wars’ for Tron (TRX)?
- Altcoins2 weeks ago
Why Ripple, Tron, and Cardano are top promising crypto investments
- Don't Miss2 weeks ago
MoneyGram still testing Ripple xRapid for internal liquidity transfers