NEO gained popularity in China and was even dubbed the “Chinese Ethereum.” Its purpose is to tokenize real-world assets, allowing for smart contracts. As of mid-January 2023, the NEO crypto price $8.10, with a capitalization of $571 million.
Which crypto to invest in?
The cryptocurrency market offers a variety of projects that aim to solve different problems and provide various services. With increasing adoption of cryptocurrencies in the real world, their popularity is on the rise, and many real-life companies are seeking to integrate with the crypto industry.
Smart contracts are a groundbreaking technology that can perfectly implement business conditions without delays or intermediaries. They can be used in medicine, logistics, finance, and any other field requiring strict data transfers. Cryptocurrency platforms that allow for building and running smart contracts occupy a special place in the crypto industry. Two prominent examples are the NEO and Ethereum platforms.
What is NEO?
This project gained popularity in China and was even dubbed the “Chinese Ethereum.” Its purpose is to tokenize real-world assets, allowing for smart contracts. As of mid-January 2023, the NEO crypto price $8.10, with a capitalization of $571 million.
Some facts about NEO include:
It supports all popular programming languages
Transactions are fast and secure
It supports smart contract development
It allows for digitizing real-world assets.
What is Ethereum?
Ethereum is a much more popular cryptocurrency compared to NEO. It serves as the foundation for hundreds of smart contracts and other blockchain projects. Recently, the Ethereum network switched to the Proof of Stake mechanism, which made network transactions cheaper and faster, and opened the possibility for staking ETH. As of mid-January 2023, the ETH price is $1,632.
Which crypto to invest in?
Here are some facts to consider when comparing NEO and ETH:
NEO is much more scalable than Ethereum
NEO can process 100 transactions per second, while Ethereum can handle only 15
NEO is more convenient for broader developers as it supports common programming languages.
However, with Ethereum’s transition to PoS, the network has a better chance of reaching new heights, as it is already the second-most-traded asset in the market.
The best cryptocurrency investment option is to buy both NEO and ETH, as both are worth attention and are considered promising projects. Many beginner traders ask, “How much should I invest in cryptocurrency?” It is recommended to allocate 10% of your monthly budget and diversify your portfolio. For more information on cryptocurrency investments, visit the WhiteBIT blog.