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NEO vs. EOS: Who will kill Ethereum?

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NEO vs EOS

It was 2009 when the mythical Satoshi Nakamoto launched Bitcoin, a system that aims to get rid of fiat currencies and the whole financial system. It would be easy to think that was too ambitious and he would be just either laughed at or ignored. He wasn’t. It was the opposite. Since 2009 lots of new cryptocurrency projects have emerged, all based on Satoshi’s original idea: the blockchain.

Ethereum follows Bitcoin as the most successful cryptocurrency in the world. But Ethereum did Bitcoin one better: its platform for smart contracts using the ECR-20 technology allows any entrepreneur to start his or her very own bitcoin using the Ethereum blockchain and network. Many important projects that are now autonomous begun as an ECR-20 based project. Tron, EOS, IOST, to name a few.

But other projects in the crypto verse are becoming stronger and could pose a challenge even for Ethereum. We’re talking about EOS and NEO here.

NEO was able to build some momentum earlier this year and then it went back a bit. EOS, on the other hand, has gone through the roof (with wild fluctuations as well) because it was able to release its Main Net finally and to announce their first significant partner.

Both coins have good things going for them and could challenge Ethereum’s reign. And this will be even more likely if Ethereum insists in not addressing the technological limitations it has. So how do both projects compare? Let’s see.

Neo

It’s based in China, and it has the Chinese government’s full support. This alone is a huge deal. NEO aims to help asset digitalization through digital identity technology. It’s also a complete decentralized application platform with a significant advantage: it can run apps written in C, C++, Java, and JavaScript.

While this could seem a bit technical, it also means that any regular computer programmer in the world can write apps or smart contracts using this platform while so many other platforms do require for programmers to learn a full new language.

Many other projects and applications are already running on NEO’s tech. Ontology is the best known, a platform that uses the blockchain to allow for fully customized smart contracts. But it’s not the only one. NEX, Zeepin, RedPulse, Moonlight, Switcheo, and Thekey are other well-known platforms that run on NEO.

In short: NEO is not the most talked about cryptocurrency in the West, but when you have China and Asia behind you, the West ignores you to its own cost.

EOS

EOS is the Block.one’s organization’s cryptocurrency. They recently brought their new Main Net live to become independent from Ethereum, and it’s grown into one of the investor’s darlings over the last couple of weeks.

Their new Main Net is called EOSIO, and it’s a very versatile blockchain platform that can support all kinds of services. Databases, accounts, hosting, authentication, cloud storage, you name it. EOSIO’s decentralized apps are so versatile that they can do anything a centralized server can do, only better. In fact, even before EOSIO went online, they already had already fished their first big fish in a world-class email service.

EOSIO can manage an immense number of transactions per second while charging ridiculous fees that come close to nill. It means they can handle so many decentralized apps and smart contracts at the same time, that they can dwarf most of their competition.

Also, the four billion dollars EOS did rise during its initial ICO (which lasted for a full year) has given them all the resources they need to develop their platform. And they’re still about to spend a full billion in developer programs to enhance the platform.

EOS vs. NEO: Which is the one?

While EOS has had the best year so far (except last seven days), NEO has a lot of potential to grow as well. EOS’s Main Net performance will be an essential factor for its future. Its success is tied to the way the new Main Net performs, and there’s been some concern about block producers failing to get a spot on the validators list.

EOS has been surging lately but also experiencing fluctuations just as significant. NEO has stayed quiet, it hasn’t grown all that much at all, but it is expected to, because of the Chinese’s government’s support.

So who is it?

EOS has better potential world-wide if the whole community stays together and keep the new Main Net going as it should be. But if it doesn’t, then NEO will be the one going after Ethereum and, just maybe, beating it. Neo looks like the best choice among the two for the short-term, though.

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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.

Image courtesy of Pxhere.com

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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