NEO and Bitcoin: the main similarities and differences

NEO and Bitcoin are two digital currencies that have now become quite popular in the crypto currency industry. These coins have some similarities, but they also have a number of important differences.

Similarities

Both NEO and Bitcoin are extremely popular. That's why both tokens are among the top ten. All tokens in the first ten received strong support from users of the crypto-currency community.

Both crypto-currencies have undergone periods of exponential growth. Last year became for them a period of tremendous growth. In 2017, Bitcoin grew from the price of about 1000 US dollars per token to almost 20 000 dollars in December 2017. NEO grew from the price of just a few cents in 2017 to more than 100 dollars by the beginning of 2018. Both crypto currencies have become almost the best investment units for the entire 2017 year.

Among the similarities between them, it is worth noting also the limited emission of both currencies. NEO has 100 million tokens, while Bitcoin has 21 million. This means that with increasing demand for an asset, their limited number will play into the hands of the holders of tokens, because their value will go up.

However, these crypto-currencies have some cardinal differences.

Differences between NEO and Bitcoin

Despite the fact that both tokens are in the top ten by the total size of market capitalization, Bitcoin has much more than the NEO.

According to Coinmarketcap, Bitcoin's market capitalization is 160,9 billion dollars, while NEO currency has only 7,5 billion.

In addition, among the main differences between the two crypto currencies, it should be noted that the creators of NEO are public figures. It was created by two Chinese developers: Da Hongfei and Zhang Zhenwen. But the creator of Bitcoin, for sure, the world is not known.

This is due to the fact that the person (or a group of people) who created this currency used the pseudonym of Satoshi Nakamoto. There were many conjectures about who this person could be. Some people suggested that it was Ilon Mask, the founder of Tesla, PayPal and other large corporations. However, Mask denied these statements, and the mystery remained unsolved.

Since 2009, Bitcoin has been positioned as a long-term stock of value. On the other hand, the NEO crypto currency, like the platform, is designed to simplify intellectual contracts and decentralized applications or DApps.

As a result, NEO and Bitcoin are similar in that both are popular, at times have exponential growth and have limited emissions. And their differences in the fact that they were created at different times, have a different size of market capitalization. In addition, they have completely different functions and application possibilities.

However, despite their differences, both NEO and Bitcoin experienced huge leaps in 2017 and could potentially return to this trend in 2018.

Author: Olga Novikova, Analyst Freedman Club Crypto News
Image from Fotolia

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