NEO and Ethereum are two of the most popular blockchain platforms in the world. While they share some similarities, they also have some key differences that set them apart. Lets compare their features, strengths, and weaknesses.
NEO was founded in 2014 by Da Hongfei and Erik Zhang. It is a blockchain platform that focuses on creating a smart economy by digitizing assets and automating their management through smart contracts. NEO has its own cryptocurrency, called GAS, which is used to pay for transactions and execute smart contracts on the platform.
Ethereum was created by Vitalik Buterin in 2015. It is a decentralized blockchain platform that allows developers to build decentralized applications (dapps) on top of its blockchain. Ethereum has its own cryptocurrency, called Ether (ETH), which is used to power the platform and pay for transactions.
The main difference between NEO and Ethereum is their approach to consensus. NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, which allows for faster transaction processing and greater scalability. Ethereum, on the other hand, currently uses a Proof of Work (PoW) consensus mechanism, although it is in the process of transitioning to a Proof of Stake (PoS) mechanism with the current Ethereum 2.0 upgrade. Again, their programming language is a difference. NEO uses a programming language called Solidity, which is similar to Ethereum's programming language of the same name. However, NEO also supports other programming languages such as Java, Kotlin, and C#. Ethereum, on the other hand, only supports Solidity and a language called Vyper, although it is possible to write Ethereum contracts in other languages and compile them to Solidity.