Proof-Of-Work to Proof-Of-Stakes – NEO the Chinese Ethereum with Smart EconomyOctober 8, 2019
It is indeed a difficult task to choose one from the Altcoins for varied reasons. A promising Altcoin should be studied for historical trends, technology, and a probable analyst prediction on what the token might provide in store for 2019.
The value of the token multiplied with the numbers of the token type in circulation will provide the market capitalization for a particular token type.
The Altcoin list begins with Ethereum, which is considered to be the next best coin after the Bitcoin. Ethereum has grown from $9 in 2017 to $1,389 in 2018. The returns so far stand at 17000% for its first investors. The unique selling point of Ethereum is backed by the Ethereum platform, which developers use to build new blockchain-based smart contracts and decentralized apps.
Smart contracts are considered to be big things because, these contracts are agreements with if, then, else conditions that execute automatically when the preset conditions are met.
Several other Altcoins who are launching ICOs choose to do so on the Ethereum platform. Ethereum is useful and therefore holds the next prominent place to Bitcoin in the cryptocurrency market. However, scalability is a significant issue faced by Ethereum. The developers are working on improving the shortcoming. Ethereum is expected to upgrade from its current technology of proof-of-work to proof-of-stakes to enhance its scalability.
NEO is yet another platform that focuses on developing decentralized apps, smart contracts, and ICOs. NEO is known as the “Chinese Ethereum” as it resembles Ethereum in many ways. NEO was valued at $44 in 2018, and now it is at $82. The robust technology and the support from the Chinese government is the major support factor driving NEO.
NEO is better than Ethereum as it can handle more than 10,000 transactions per second. ETH supports only one language, Solidity, but NEO supports several programming languages like C++, C#, Java, and GO. This is developer-friendly, and developers feel comfortable working in a language they already know. They need not learn yet another new language.
NEO is working on building a smart economy, which is about digitalizing real-world physical assets like real estate, house, car, and anything one can name. They are working with an aggressive team to have their mission come true. NEO was previously Antshares (ANS), and it is NEO now after the rebranding. NEO is here to stay.