Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => NEO Forum => Topic started by: Unknown on October 18, 2018, 03:53:27 AM
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Difference #1 – Backers
NEO is backed by the Chinese government. This has become the most important factor for NEO’s popularity in China, making it China’s first open-source public blockchain project. NEO is also backed by WINGS, Alibaba, and various Microsoft-like giants.
Ethereum is not backed by any nation’s government, but it is supported by the EEA-Enterprise Ethereum Alliance. This speaks volumes about its popularity and potential success on the world’s stage.
Difference #2 – Consensus mechanism
NEO uses a delegated Byzantine Fault Tolerant (aka dBFT) consensus mechanism, which is an improved form of proof-of-stake.
Ethereum uses a proof-of-work mechanism.
dBFT is believed to be more energy efficient than proof-of-work, as POW is a very energy-intensive and expensive. But I don’t see this as a big advantage for NEO because we can eventually expect Ethereum to move to an efficient proof-of-stake mechanism.
Difference #3 – Divisibility
The native crypto-fuel of NEO’s blockchain is not divisible. It only exists in whole numbers (1,2,50,1000, etc.).
The native crypto-fuel of Ethereum is divisible. It can be divided (3.4352, 283.399403, etc.)
Difference #4 – Fueling the blockchain
NEO produces a special crypto asset called NeoGAS (or GAS) which is used as a crypto-fuel for NEO’s blockchain.
In Ethereum, small units of Ether are used as “gas” to fuel the network.
Difference #5 – Language
NEO’s smart contracts and DApps can be written and compiled in C# and Java. In the future, developers will also be able to write smart contracts in Python and Go. This will drastically reduce the entry barrier for all developers around the world.
Currently, if you want to write smart contracts and DApps on Ethereum, then you have to learn a new programming language called Solidity. Very few people know this language.
Difference #6 – Direction
NEO is focused on making a smart economy by digitizing traditional real-world assets via digital identity, along with running smart contracts and DApps.
Ethereum is going in the direction of becoming the world’s only supercomputer based on the blockchain by hosting numerous use cases of digital identity, computing, decentralized exchanges, remittances, and KYC (to name a few).
Difference #7 – the International audience
There isn’t much information available about NEO for the English-reading audience due to its Chinese roots.
Ethereum is already a global enterprise which fully caters to its international (and English-reading) audience.
Difference #8 – Speed
At present, NEO can handle 10,000 transactions per second.
Ethereum can handle 15 transactions per second.
Source (https://Do not link to this site DMCA Abuser/neo-vs-ethereum-differences/)
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You provide very complete information about NEO and Ethereum coins. Thank you for what you wrote because this is very useful for me and everyone in this forum. And this can add to my knowledge about NEO and Ethereum because we know the two coin projects are equally using smart contracts.
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agreed, absolutely different especially at speed transaction each tx, NEO just take around 20 (latest) second and ethereum usually take 30 second (fastest)
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Neo has high speed and more scalability than ethereum network and neo handling lot of transactions in a second also we can create a new NEP5 tokens from neo block chain.
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Difference #4 – Fueling the blockchain
NEO produces a special crypto asset called NeoGAS (or GAS) which is used as a crypto-fuel for NEO’s blockchain.
In Ethereum, small units of Ether are used as “gas” to fuel the network.
In all these points I see this point as a weakness for NEO.
If this is NEO's best choice, maybe in my opinion this is a "little" difficulty for NEO fans.
Maybe I can fix this like:
- If I send NEO coins then I must have GAS coins.
- GAS coins must be purchased at various exchanges that require a small fee.
- when you want to send GAS for NEO delivery fuel, it also needs GAS.
- after that I can send NEO coins with GAS coin fuel.
We can see different and simple from transactions of Ethereum (everyone can do it) . lol
Naaahhh this is my opinion and if I'm wrong, please correct. Thanks!
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NEO uses a delegated Byzantine Fault Tolerant (dBFT) consensus mechanism. This is an improved version of the Proof-of-Stake (PoS) mechanism. Ethereum, on the other hand, uses a Proof-of-Work (PoW) mechanism. ... In the NEO vs Ethereum battle, dBFT makes it possible for NEO to be more scalable than Ethereum..
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Naaahhh this is my opinion and if I'm wrong, please correct. Thanks!
Indeed it is like that in fact because NEO and Ethereum are very exact, there is no difference and I also often hear from my male friends that NEO can be said that Ethereum was born in China.
I might not need to describe what happened or the procedure for sending tokens with Ethereum which requires Gwei for transactions because everyone in the world already knows.
Except, for replies to this thread, maybe I should also read it first because NEO and GAS only have a little difference.