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In the world of smart contracts, one of the major players is Ethereum. It is the most widely used and most developed smart contracts platform in the world. However, the "Chinese Etherium" that is NEO has evolved as a new player in the market with strong aspects.
Since its launch in 2014, NEO has rapidly risen to become a top ten cryptocurrency. It's a powerful competitor to Ethereum in the smart contract world. Both Ethereum and NEO support smart contracts and decentralized apps assembled on top of their blockchain. Ethereum was the first platform to build a secure network that can have contracts written on top of it. But NEO was not far behind.
When talking about market dominance there is no doubt that Ethereum is still the bigger project. It has a big team of committed developers who are working hard to enhance the platform. 100s of dApps and 1000s of smart contracts function on Ethereum every day.
In the blockchain industry, Ethereum is the presiding force. On the other hand, Neo is venturing into the Asian market, mainly China.
The smart contracts on Ethereum and NEO are chunks of code. Therefore, they need to be written by smart contract developers in a programming language.
For smart contracts, Ethereum applies Solidity, a niche programming language. Solidity has certain benefits for smart contract development. It's strongly typed and has security benefits built-in. This requires new developers to learn a new language which often scares them. This acts as a hurdle to developer adoption.
On the contrary, NEO does not involve the need to write smart contracts in a specific language. NEO enables numerous programming languages like C++, Java, and Python to write the contracts. This makes developer adoption easier, and it results in minimizing the switching costs for average developers, to begin with, smart contracts.
As the market says Ethereum is still in the dominant position but NEO is just a few steps ahead. With time NEO can overpower Ethereum.
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