It appears NEO is losing ground lately. In 2017 NEO which has often been called the Chinese Ethereum (ETH) was among the top ten digital assets with a good potential and be the best. NEO was touted as being a better, faster and more capable network with the ability that complete more transactions than a number of other top networks.
NEO (NEO) Price Today – NEO / USD
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Since NEO attained its peak position in 2018 (where it reached a market cap of $10 billion), the digital asset has slipped into number 18 on the list of the top digital currencies by market cap with its market cap slashed by nearly half.
The Co-founder of NEO Erik Zhang was recently interviewed regarding the situation with NEO. Here is what he had to say:
Why Has NEO Fallen Out of Favor?
Despite the fact that it looks like NEO is falling out of favor the Co-founder of network Erik Zhang insisted that he is not losing any sleep on the issue. He doesn’t seem to be interested in price actions and fluctuations. The general crypto market movement doesn’t interest him either. NEO Co-founder believes that price movements isn’t a yardstick to verify the performance of a digital currency.
Is it Correct to Call NEO the Chinese Ethereum (ETH)?
According to Zhang, labeling NEO as the Chinese Ethereum is a hype. NEO was not introduced in such a way, and he went on to express his disgust with the labeling. Zhang insists that he has nothing against Ethereum (ETH) going on to call it an excellent project. Yet he cited that both projects are two separate different initiatives.
Zhang: NEO is a Global Project
According to Zhang despite the fact that NEO was launched by two Chinese people, it is still a Global Project. He went on to indicate that the project has received contributions from developers across the globe. After this assertion, Zhang provides a valid point about the Ethereum and NEO comparison. In his words:
“It has to be said that the token that has the potential to overtake Ethereum can’t be another Ethereum.”
What’s the Difference Between Ethereum and NEO at the Technological and Visionary Levels?
When asked about the vision of NEO and the difference between ETH and NEO on a technological level, the co-founder of the Blockchain network said:
“NEO and Ethereum have their tokens. They can run complete smart contracts and also have big differences. First, both networks run on different consensus mechanism Ethereum uses the PoW algorithm, while NEO uses dBFT.”
According to Zhang, another reason is that:
“The smart contract development languages of both networks are different. Ethereum uses the Solidity which is the domain-specific language, while NEO utilizes general-purpose languages with many developers, including C#, Python, Java, Golang, and JavaScript.”
Regarding the Smart Contracts Features of both networks, Zhang had this to say:
“Ethereum’s smart contracts interface is relatively simple, provided through EVM. NEO offers an enormous amount of APIs for smart contracts, which are provided in a closely similar way to virtual devices.”
Speaking on the issue of vision, Zhang said beyond the technical differences he spoke on, the vision of both projects is the main chasm between the pair. While Ethereum is aiming to be an unstoppable global computer, NEO simply wants to serve the smart sector.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.
