Guardian Circle, a blockchain application that intends to offer emergency services through the peer-to peer model. Recently, it announced that it intends to launch its token through the Neo (NEO) platform. But that’s not the big deal here, the deal is that the reasons they have highlighted for this decision point to the growing importance of NEO in the smart contracts space, relative to Ethereum. Let’s go through some of them, then you will understand why this is an indicator to a bright future for the NEO platform.
One of the reasons the Guardian Circle team has offered for choosing NEO over Ethereum is the issue of congestion. The Ethereum platform has had a scalability problem for some time now, and launching a large application there is bound to face congestion issues. This is the biggest problem that the Guardian Circle team intends to avoid by shifting to the Neo (NEO) platform.
To quote one of their member’s, “The more we dug into NEO, the more we realized that they had really great answers to every one of our concerns with Ethereum and many additional benefits that are unique to the NEO ecosystem.”
The Guardian Circle team also cited the issue of wallet integration. The argument is that NEO has an expanded library that makes it easy for platforms looking to integrate their own wallets. This is another area that NEO beats Ethereum. For blockchain application developers, it is easy to come up with a wallet for your token on the NEO platform than it is to do the same on the Ethereum platform.
Guardian Circle also touched on the issue of programming languages. The NEO smart contract platform supports python one of the more common programming languages out there. This means it is easy to cooperate with a large group of developers when working on a large-scale project on NEO. That’s unlike the Ethereum platform, which supports Solidity, a language that is yet to get adopted by a large audience of developers.
The Guardian Circle team also touched on the issue of transaction costs when choosing Neo (NEO) over Ethereum. According to them, the fact that NEO and GAS are separate means that transaction costs for running an applications on NEO are relatively lower, as compared to doing the same on Ethereum.
As an investor who has no interest in understanding all the technicalities revolving around the Guardian Circle case, you can still decipher one important thing. And that’s the fact that in the smart contracts space, NEO has an edge. Ethereum may have come first and is the better known one, but clearly it lacks competitive advantage. If a project like Guardian Circle that intends to disrupt the security services sector can choose NEO over Ethereum, then you have an idea of where the future lies.
It is clear as more people get to learn of the power of NEO over Ethereum, it will become the main smart contracts platform. We can only speculate about its price, but what’s clear is that Neo (NEO) is a gem, a sleeping giant waiting to take off!
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.