Crypto Showdown | NEO vs Ethereum | Battle 4 Smart Contract Title

Posted: November 1, 2017 by Tyler Swope

NEO vs ETHEREUM

Good afternoon viewers of Youtube, my name is Tyler of Chico Crypto here to bring you another episode of crypto showdown, In the last fight NEO Narrowly beat out Metaverse ETP for the battle of shanghai. Now it looks like NEO is setting their sights on the championship belt and will face the reigning “Smart Contract” Champion Ethereum. This Neo vs Ethereum is going to be a doosy of a fight, and can’t wait to see if NEO can pull of the upset against the tried and true Champ Ethereum

I almost got a virtual ring girl to participate, and she would have been perfect. Doors still open if you’re watching this. I promise you guys soon I will have ring girls, but for the time being we are going to to have to deal with stock video of ring girls

Round 1-Block Time, Transaction Speed, and Cost

Ethereum

Ethereum, in its current state, can only handle roughly 15 transactions per second with a 12-15 second block time. Things were getting out of hand recently on the Ethereum network, block times were getting way too long and the cost to send a transaction was unfeasible. As you can see from this chart, with increased usage on the Ethereum network for ICOs and dAPPs, block times kept increasing. They almost rose to 30 seconds. Transactions fees were getting as high as 15 cents and you still had to wait hours for your transaction to go through.

NEO

With NEO, in the current state of the system, It takes 15-20 seconds to generate a block and can process 1000 transactions per second. The system has been tested to some extent. The Red Pulse ICO didn’t clog the network, but the ICO raised 30+ Million which isn’t as much as some of the 200+ million ICOs raised on the Ethereum Network. NEO is going to be tested to the fullest extent soon when multiple ICOS and dapps are using up network resources, which I estimate to begin in Q1 of 2018.

Now Ethereum has recently got their network back under control with a fork. The transaction speed was reduced back down to 12-15 seconds, and the cost to send a transaction is about .0006 of a dollar. The funny thing is the fork was a byzantine upgrade. Guess what network already employs a delegated byzantine fault tolerance in their consensus? NEO. NEO the underdog, threw a mixture of hooks, uppercuts, and jabs with an elegant defense. I gotta give round 1 to NEO, the network has the fundamentals to go global without it’s building blocks holding it back

Round 2-Partnerships and Corporate Influence

In round 2 we will be looking into which platform has made the partnerships needed to succeeded in the cut throat arena of cryptocurrency.

Neo

Neo has had a lot of controversy over who the company has actually partnered with. Neo is the public blockchain of the Chinese company Onchain. Onchain became the first Chinese blockchain company to join Hyperledger — an open source blockchain project started by the Linux Foundation specifically focusing on the development of private and consortium chains for businesses. It is here where the Da HongFei and Erik Zhang, entered the hyperbolic time chamber that is now known as Fabric, a platform by Hyperledger for distributed ledger solutions, and has consequently helped them to develop many aspects underpinning the design of DNA.

Onchain has many partnerships with Microsoft China, Onchain founded Legal Chain specifically targeting the inadequacies of the digital applications within the legal system. In 2005, (Digital Signature Act) was passed into national law which permitted an effective digital signatures to gain the same legal rights as a real signature.

Neo is also trying to integrate the technology with Microsoft’s face and voice recognition API function to kick start this digital revolution within the legal system. At the same time, a partnership was formed with FaDaDa, a third-party platform for electronic contracts that has processed over 27 million contracts to date, to provide secure evidence storage with DNA.On chain was voted as KPMG’s top 50 Fintech Company in China and established a relationship with the Japanese Ministry of Economy, Trade and

Finally, at the end of 2016 they announced a partnership with Alibaba to provide attested email service for Ali Cloud with Legal Chain where it provides a proof-of-existence for a blockchain-powered email evidence repository for enterprise-level use.

Fosun Group, China’s largest private conglomerate, have recently invested into Onchain in order to apply DNA across all of its businesses. Currently, Fosun International has a market cap of 102.98 billion dollars on the Hong Kong Stock Exchange and that is only its international branch.

Ethereum

Both currencies have managed to drum up massive corporate support. Ethereum has backing from the Enterprise Ethereum Alliance (EEA), a group of 150 corporations that are devoted to developing Ethereum. The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. Together, they earn from and build upon the smart contract supporting blockchain currently running in real-world production – Ethereum – to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business. This alliance includes big players like Microsoft, Intel,, and Thomas Reuters.

In july of this year, there was a group of more big names that joined the EEA. Names include Mastercard, Cisco, Scotia Bank, and the government of pradish. The partnership list goes on and on with Ethereum, Microsoft and ConsenSys have formed a partnership to release Ethereum Blockchain-as-a-Service (ETH BaaS). The initial offering will include developer tools Ether.Camp and BlockApps with more tools and applications to follow.

Looks like Ethereum came back in round 2 and had just enough offense, with the right mix of defense to take the round. Ethereum has the development, time, community, and networking to have a long an sustainable list of partnerships. NEO on the other hand is a newer project with less time to form the

partnerships needed, but that doesn’t mean in the future their list wont outgrow Ether’s in the future……

Round 3 Ease of Development for Programmers

Ethereum

Developing on Ethereum requires you to learn a new programming language called Solidity. Solidity is a statically-typed programming language designed for developing smart contracts that run on the EVM.[14][15] Solidity is compiled to bytecode that is executable on the EVM. With Solidity, developers are able to write applications that implement self-enforcing business logic embodied in smart contracts, leaving an authoritative record of transactions.[16][17] Writing smart contracts in smart contract specific languages such as Solidity is referred to as easy for those who already have programming skills).[18]

NEO

NEO offers substantially more in its capability. While Ethereum offers only proprietary languages for smart contracts, NEO allows for a number of more common languages like .NET, Java, and soon Python and Go.

These languages allow for a far more robust and usable platform, providing a basis for a blockchain-based economy. The word on the streets, when talking with actual programmers is that the language of Ethereum isn’t hard to learn, but you do have to learn it which takes time.

In my honest opinion, making it as easy as possible to develop on a platform is what is going to bring in the most developers and actual development on the platform. The crypto space is very new, and 95% of actual programmers still have no idea of what can actually be built through on the blockchain through dapps. I foresee a major exodus of these developers moving to the NEO platform in the next few years as the ease of development will be much easier than learning solidity. So it looks like NEO takes the dug in deep, and was able to take round 3.

Round 4: Development on the Platform

Ethereum-Development on the Ethereum platform is in full throttle the past year, and there looks to be now slowing down. If you scroll through state of the dapps, you can see there are currentely 805 dapps on the ethereum blockchain.

NEO smart contracts 2.0 was just released over 2 months ago, and developers are starting to get their hands dirty playing with the platform. ADEX, and RedPulse are they only two projects currently using the NEO blockchain and smart contracts. The city of ZION currently has a dapp competition running with 13500 gas up for grabs to the winners. Qlink a decentralize mobile platform is coming soon, also aphelion a p2p trading platform plans to build a dapp and their ico begins November 15th. But that is where it basically stops….for now

The list for Ethereum goes on and on, metamask which allows you to runn dapps in browser, my ether wallet a multiple erc20 wallet used widely, augur a decentralized prediction market, basic attention token, and ethertweet-a decentralized twitter . Looks like NEO is starting to stumble from the flurry of punches.

Diving further there is etheria, kind of like a decentralized minecraft. in germany there are electric car stations hooked up to the ethereum blockchain, and raiden network, and tenx and the list goes on and on. NEO takes one to the jaw, and is down. 1, 2, 3, 4 and NEO is quickly back up. Ding Ding Ding Match is over, looks like this one is going to decision.

In the first round NEO came out swinging like a rookie should, and was able to beat Ethereum at the fundamentals of the blockchain in speed, transaction cost, and blocktime. This round goes to NEO 10-9

In the second round Ethereum was able to get their feet grounded in the match and return accurate fire. Ethereum’s partnership and corporate influence was to great for NEO to handle, but the future is unclear in this arena for NEO. Can’t wait to see developments, and what the partnership NEO has up their sleeves. Ether took this round 10-9

In the third round NEO showed why they are a contender for the smart contract belt. Huge right hands, left Ethereum dazed the entire round. NEO has made it easier for developers and that will show in the future when multiple dapps start to port over to NEO and dapps are created on NEO and not Ethereum. For this reason, NEO took the round easily 10-9

In the final round, Ethereum showed why they are the big boy on the block. The actual development on Ethereum outshines NEO by a lot. I am a major NEO fan, but actual development on the platform is sparce. Ethereum’s right hook landed, and took NEO to the ground. Ethereum takes the final round 10-8

And the winner by split decision is Ethereum by a narrow score of 38-37. This is what you can expect in a face to face competition….right now. NEO is still a rookie with an unclear future, but the fundamentals are better than NEO and with time and practice the NEO platform will outshine Ethereum if things stay the same on their blockchain. Ethereum has updates…raiden, etc. But as we know, forks happen, and these things take lots of time. Well thanks viewers for watching this episode of crypto showdown, leave me some comments on which cryptos should duke it out next. And I promise ring girls!

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