NEO and Ethereum both are based on blockchain technology. They are particularly created to run smart contracts, ICO's, and decentralized applications in an open-source network. In the cryptocurrency realm, both ICO's and dApps are recognized as the next big thing. This is where the competition starts as both are leaders in the ICO and dApp fields.

Being an open-sourced network both NEO and Ethereum have a large community backing with great development teams.

Neo vs Ethereum: Key Differences

Consensus Mechanism

NEO uses an advanced form of proof-of-stake known as Delegated Byzantine (dBFT) mechanism. Whereas, Ethereum exercises the original proof-of-stake (PoS) mechanism.

Fueling the Blockchain Network

NEO produces a distinctive crypto asset known as NEO and GAS. These native tokens of NEO are used as a crypto-fuel for NEO's blockchain network. As for Ethereum small amounts of 'Ether' known as 'gas' are used to fuel the network.

Hard Fork

Due to NEO's dBFT mechanism, it is Hard Fork safeguarded. dBFT has a good finality, once a confirmation is finalized the block can not be split, and the transaction will not be held back. Ethereum is prone to Hard Fork and has been hacked in the past.

Divisibility

The native token of NEO's blockchain network is not divisible. It only exists in natural numbers (1,2,3,...), and a GAS token can not be divided further. Whereas, the native crypto-fuel of Ethereum is divisible. One Ether token has the possibility of further being divided into 18 decimal places.

Governance

NEO's home base is in China, and the blockchain network is backed by their governance. Alternatively, Ethereum does not have the backing of the governance and support of China. This puts Ethereum in a difficult predicament as it can't reach out to users based in China and selected Asian markets.

History of NEO and Ethereum

NEO, the brainchild of Da Hongfei and Erik Zhang, originated in the blockchain ecosystem in 2014. The blockchain network was primarily known as AntShares. The development company of Hongfei and Zhang Onchain which produced AntShares was formed legally in China to eliminate the various insufficiencies in digital applications. AntShares in June 2017 was rebranded as NEO. The following year in 2018, for every 5 NEO tokens a user possessed in their wallet, Onchain allocated a single ONT token. Availing the reward of an ONT token, an investor can take a stand, vote on system developments and additional concerns of governance in the NEO blockchain platform.

Ethereum Network was brought into the blockchain world by Vitalik Buterin.

Price Stats of NEO and Ethereum

NEO has witnessed a stunning surge in its price level in such a short period. From recording a price value of $0.16 in January 2017 to reaching a massive acceleration in its price value of $162 in January 2018 is astounding. The live NEO price value at the time of writing this article is recorded at $104 by CoinMarketCap.

NEO's strong contender Ethereum has the rank of the second most profitable investment in the fintech space. Currently, Ethereum's market cap is recorded at a price value of $68.17 billion. Ethereum too has shown a massive trajectory in its price value growth recording a price value of $9 in 2017 to remarkable growth of $1, 389 in 2018. The live Ethereum price value at the time of writing this piece is at $3,355.54 by CoinMarketCap making it a sound investment as opposed to NEO.

NEO Price Forecast: Experts Viewpoints

Crypto- analysts sharing their NEO Price Forecast have said the blockchain network has a golden future. The Co-founder of Social Finance (SoFi), Mark Cagney stating his NEO Price Forecast says that the network has the peculiarities to be on its way to replace Bitcoin. A prominent angel investor, Brian Evans also backs the potential of NEO because of how it has leveraged blockchain technology. You can also visit https://www.cryptonewsz.com/ to know more about it.
NEO Price Forecast for upcoming years

Long Forecast's NEO Price Forecast has predicted that the price value will be in the range of $18.86 to a surge of $24.14 in May 2021. As for the end of 2021, the prediction by Long Forecast is that NEO will reach an astounding price value of $23.98-30.69 by December 2021.

Keeping up the bullish NEO price predictions, for the year 2022, Walletinvestor's NEO Price Forecast records a price value of $29.5.

Conclusion

Looking at the pros and cons of two strong contenders of the blockchain network, it's safe to say there is no clear winner. Ethereum has garnered a devoted following and is a sound option for developers and investors. Ethereum may be a clear-cut champion when it comes to being a famous network. But nothing beats NEO's scalability. Once NEO's price value rises to the occasion, Ethereum would have to put up a good fight to sustain its spot in the blockchain ecosystem.