We continue comparing different blockchain ecosystems to understand which one to use for enterprise-grade Dapp development. In Part 1, we discussed Hyperledger and genEOS. The next matchup is genEOS vs NEO.
What They Share In Common
They are open-source
Both NEO and genEOS are open-source platforms. This makes actions triggered by their smart contracts predictable for consumers. This way, ecosystems increase transparency of their blockchains.
They pre-configure smart contracts
Both platforms deliver not only ready-to-use blockchains but smart contracts as well. The idea of smart contracts is that they automatically complete certain procedures upon predefined triggers.
They are cost-efficient and easily scalable
As the number of witness nodes doesn’t grow with the scaling of the blockchains, both ecosystems carry out cost-efficient transactions, no matter how big the blockchain becomes.
What’s Unique to NEO
Wide target audience
NEO’s focus goes far beyond enterprise-grade solutions. Its aim is to help create a smart economy, with well-detailed digital assets, digital identity, and smart contracts.
When it comes to digital assets, NEO allows designing two types of them: the contract one that is available only within a Dapp which created it, and the global one that can be recognized by any Dapp built on top of NEO.
Talking about digital identity, NEO uses the X.590 standard that includes such verification methods as fingerprints, voice, SMS, facial features, etc.
NEO allows adopting its ready-made Dapps within other applications, which reduces the development time and cuts costs. Among off-the-shelf solutions, there are a social network, a smart fund, prediction, data exchange, advertising markets, and others.
Byzantine Fault Tolerance (BTA)
The BTA consensus algorithm assumes pre-selection of the limited number of witness nodes that validate the creation of every new block. In the case of Practical BTA, this number is below 20, which makes the blockchain energy-efficient and scalable.
What’s Unique to genEOS
genEOS was crafted especially for teams developing enterprise-grade blockchain solutions. As a result, it pre-designs the most common tools for business-focused software. In addition, all the featured within genEOS can be easily customized in line with the developers’ needs.
For teams that would like to concentrate on the business and marketing sides of the project instead of coding, genEOS can provide its own development forces. There are more than 60 developers on the team with a thorough knowledge of the genEOS blockchain.
Delegated Proof of Stake (DPoS)
In the case of DPoS, the most reliable nodes are chosen for witnessing. This way, no matter how the blockchain scales, associated costs don’t grow.
Both blockchain ecosystems can be used by teams developing enterprise-grade solutions. Both NEO and genEOS deliver a ready-made blockchain with additional features, such as smart contracts, that can be encoded in a newly-built software. In addition, with the help of a limited number of witness nodes, both platforms make transactions cost-efficient while the solutions built on top of them become easily scalable.
In spite of some similarities, NEO and genEOS have features that differ, too:
- NEO has a wider target audience than genEOS. However, genEOS may address enterprise needs better than NEO.
- NEO has a variety of out-of-the-box Dapps that can be used as a foundation for other applications, too.
- genEOS provides its development forces for teams requiring Dapp development help.
- NEO uses the BTA consensus algorithm, whereas genEOS is subject to DPoS.
- NEO and genEOS both support different programming languages except for Python.