Neo us Ethereum. Top 8 Common Differences





Ethereum is like Android in the blockchain space, where applications can be built by anyone. It is the first one to come up with the idea of smart contracts, which involved many strategic partnerships. NEO, on the other hand, was formed initially as AntShares, and released as NEO in 2017. NEO is pretty new as compared to Ethereum, and has performed incredibly well so far. (NEO vs Ethereum 2019)

How Are NEO & Ethereum Similar?
Some of the key similarities:

NEO and Ethereum are both blockchain projects specifically designed to host smart contracts, ICOs, and DApps in a decentralized manner.

Their respective blockchains are fueled by crypto-assets (GAS in NEO, Ether in Ethereum).

Both the projects are open-source, Turing complete, and have ample community backing with great, responsive teams.

Let us check the basic differences between NEO and Ethereum:

#1 Who Backs The Cryptocurrency
NEO is backed by the Chinese government and the first open-source, public blockchain project out there, which made it so popular in China. It is even backed by organizations like Alibaba, WINGS, etc.

Ethereum is not backed by any national government, but it is supported by the Enterprise Ethereum Alliance (EEA).

#2 Consensus Mechanism
NEO uses the delegated Byzantine Fault Tolerance consensus mechanism (dBFT), which is an enhanced version of the conventional Proof of Work (PoW) consensus mechanism.

Ethereum uses the Proof of Work algorithm, with Ethash as the addition, which prevents from using expensive hardware like ASIC.

#3 Fueling 
NEO produces a special crypto-fuel asset called NEO Gas (GAS), that is being used as NEO’s fuel.

Ethereum uses small units of Ether as a fuel or gas for the blockchain.

#4 Divisibility
The native fuel of NEO’s blockchain is not divisible and only exists in whole numbers like 50, 100, 1, 2.

The native fuel for Ethereum is divisible and can be divided like 3.452, 283.39, etc.

#5 Speed And Block Time
NEO can handle 10,000 transactions per second while Ethereum can handle 15 transactions per second. A transaction gets confirmed in 15-25 seconds in the case of NEO while for Ethereum, the block time is 10 to 20 seconds. You can buy Ethereum from Neo at the best rate here.

#6 Price, Market Capitalization, Rank and Circulating Supply (NEO vs Ethereum Price)
Currently, Ethereum is trading at $172.27 with a circulating supply of 107,616,284 ETH and market capitalization of $18.5 million.

 #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.

#8  Speed

At present, NEO can handle 10,000 transactions per second.
Ethereum can handle 15 transactions per second.
This is currently NEO’s biggest advantage in my opinion, but I think Ethereum will solve this soon as they are actively working on scalability.

NEO, on the other hand, is trading at $8.86 with a circulating supply of 70,538,831 NEO and market capitalization of $624,734,697. As per the NEO vs Ethereum chart, both of them fell by around 2% in the last 24 hours.