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NEO (NEO) vs. Ethereum (ETH): Comparing Web 3.0 to “Smart Economy”

Rebranded from AntShares, NEO was soon proclaimed as one of the “Ethereum Killers” alongside with EOS (EOS) also carrying a similar nickname.

However, Ethereum appeared back in 2015 with a revolutionary concept of smart contract operations, which helped it established itself as one of the top projects in the industry.

But, since Ethereum is working on creating a completely decentralized ecosystem with the main goal of creating the decentralized internet dubbed Web 3.o, and NEO is working on establishing “smart economy” through the utilization of smart contract operations.

With each being so close, yet so apart, which one is more likely to spike in the upcoming months?

 NEO against Ethereum: Which One is more likely to Spike by the End of 2018?

NEO is said to be aiming at taking over Ethereum since both of these projects have the same focus area when it comes to long-term objectives, naming it Ethereum Killer.

However, although Ethereum is going through a rough patch with achieving new lows during the last couple of months, NEO seems to have slim chances of going past Ethereum when it comes to acquiring a rebound or even getting past ETH in the terms of trading volumes.

While Ethereum is struggling in the market probably due to the fact that the network is still left to implement the announced changes within the Roadmap 2.0 in the terms of enabling easy scaling for the second largest network, ETH is also struggling in the market.

But, it will be difficult for NEO to get pass ETH in the terms of trading volumes and acquiring gains as this currency seems to be doing less than well at a current pace of growth.

NEO (NEO) Weekly Chart – Coin Market Cap

Even though Ethereum is showing -30% in the course of a year, NEO is dipping lower on YTD charts by almost -40% against the fiat.

Additionally, ETH might have had a fine week with 3.4% against the fiat in the course of 7 days, but NEO has doubled ETH’s gains going up by 6.4% against the fiat, so based on these records NEO might still have some fair odds of going ahead of ETH when it comes to collecting gains.

Ethereum (ETH) Weekly Chart – Coin Market Cap

However, when it comes to taking over the smart contract industry, Ethereum seems to be too well-established since it is still considered to be a pioneer in this game, so it might be difficult for NEO to attract new developers and new investors in case Ethereum acquires the needed scalability.

NEO is most certainly capable of providing a solid good ecosystem for Dapp creation and smart contract operations, however, it would need to step up the strategy of adoption in case it wants to become a more serious “threat” to the hegemony of Ethereum, which is holding the ranking of the second largest currency and the largest Dapp platform for years now.

Moreover, with the latest changes in the market, NEO is looking at breaking through the resistance of 16.78$ while heading towards a much achievable price of 17$, as ETH is having some difficulties with going higher than 207$, currently traded at 206$.

 

Image Credit: Photo by Shane Colella on Unsplash

 

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