- They both are going through a development phase and giving new prospects. But are they truly worth it? Let read and find out.
Ever since the advent of Crypto, we have seen a volley of tokens that have come and gone. While some gained traction due to the attributes, others went into oblivion as they couldn’t make any difference. But thankfully, we have quite a few token protocols that are worth our attention, discussion, and investment. Cardano and Neo are the two such token protocols that have created quite a noise due to their merits.
They both come with their distinct advantages that enable the token holders in different ways. So lets us delve into the various aspects of these token protocols and see what’s best for you.
Cardano is an open-source blockchain platform that also has integrated smart contracts to facilitate decentralized apps. Led by Ethereum’s co-founder Charles Hoskinson, it is a programmable structure that was developed by Input Output Hong Kong (IOHK).
It features a third-generation blockchain operated by ADA crypto coin and is powered by the Cardano protocol. In terms of market capitalization, it is the 15th largest cryptocurrency. Developed with the motto of delivering more sophisticated features, Cardano’s smart contract is able to perform exceptionally better than many other coins. It overcomes some big hurdles faced by other platforms and gives a robust mechanism to the token users.
However, the developers of every crypto coin work on its betterment consistently. And therefore, there are many other coins that give tough competition. Among them, the major one is NEO.
Launched in China in 2014, NEO was originally called Antshares. Founded by Da Hongfei, and developed by Erik Zhang, it was rechristened in 2017.
It was developed with the motto of providing a scalable network of decentralized applications and automating the management of digital assets. At the same time, it facilitates token sales and the creation of digital assets, and smart contracts. This smart contract development platform has been called “Ethereum of China” because of the two platforms’ similarities.
NEO structure is underpinned by OnChain, another entity established by the same founders.
Things that make Cardano & NEO similar
The one thing that makes a cryptocurrency successful is its adoption by users and industries. The more it is adapted, the better its success rate is. So when we are comparing Cardano and NEO, we have to make adoption a major yardstick. Now if we analyze the response of markets or businesses towards them, they both have a lot to work on. However, they both have some notable qualities that we must talk about too.
Cardano needs very less computing power compared to many other protocols. At the time of mining, it lets you create several blocks together which amps up the speed of transactions.
NEO, on the other hand, is a less power-consuming crypto with high scaling abilities. One more advantage is that its token holders don’t need to leave their computers on to keep the chain running. It runs on an autonomous proof-of-stake (POS) mechanism.
Now you know that both blockchains are evolving and have plenty of scope for growth. However, if one wants to be a wise investor of crypto, then it is a must that they keep tabs on the ongoing developments in the domain. With that, it is possible to choose the right token which could yield good results in the future. So keeps your eyes and ears open and remember, cryptocurrency still has a long way to become an integral part of our economy.