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Ethereum As NEO Price Factor, eToro Analysis Shows

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According to the analysis, NEO platforms are attracting a number of decentralized applications. It lists some of them – Ocloud, no cost, decentralized cloud (dCloud), Switcheo, a decentralized exchange built on NEO’s blockchain, Zillica, which is a blockchain which uses sharding to be fast.

  • NEO & Ethereum both enables users to create smart contracts and decentralized applications.
  • NEO uses Delegated Byzantine Fault Tolerance (dBFT) as consensus mechanism. Whereas, Ethereum’s blockchain is supported with a different system.
  • NEO supports many programming languages, while Ethereum supports only one.
  • Centralized feature of NEO – It concentrates more on the centralization because it aims to collaborate more with the regulatory systems in future. Though, presently NEO foundation owns all of its nodes. But still, it plans to extend its ownership with nodes identified legally. The key reason behind such condition is that NEO plans to integrate itself with regulatory system.

eToro released market analysis report of blockchain company NEO.

The analysis comes out expecting a huge growth for NEO and even hoping it to see in a future run for leading cryptocurrency.

According to the analysis, NEO as a platform is witnessing an increase in the dApps developed for it, but this makes it closer to or even excel than Ethereum.

NEO Vs Ethereum

eToro Analysis 

 

NEO Global Capital Fund has supported many Ethereum based dApps, possibly they will be connected with NEO platform in future. However, the analysis shows that around 32smart contracts have been deployed in NEO platform, of which most of them are inactive.

The analysis states that NEO has a less correlation with Bitcoin than to other cryptocurrencies, but it is quite clear that it has some direct relation to Ethereum “which makes sense considering they are offering two quite similar products and are competing for the same sector within the cryptomarket.”

 

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