Smart Contracts: Is Ethereum really the best?
Ethereum was made famous by its smart contract system, allowing for custom tokens built on top of the blockchain. Most people, upon hearing the term "Smart contract", immediately think of ETH. But is the most popular still the best? I reviewed three coins in this post, including Ethereum, to find out which one is the best (in my opinion).
The three coins I'm reviewing in this blog post are Ethereum, Tezos and NEO. Their symbols are ETH, XTZ and NEO.
I'm putting this one first simply because it is the best known, and with good reason. Ethereum's smart contract system allows for custom tokens to be built on the blockchain, making DeFi (Decentralized Finance) a real possibility. The smart contracts can do anything from NFTs and tokens to DAOs (decentralized autonomous organizations). A major downside, however, is gas fees. When the gas fees are high, it makes using ETH very hard for a blockchain beginner.
I give Ethereum an 8/10 for smart contracts.
Tezos is an interesting coin, since unlike Ethereum it started as a PoS (proof of stake, not to be confused with a certain other acronym) coin. It also functions similarly to a DAO in that stakeholders vote on how the blockchain will function. This means that there are no controversial hard forks in the chain and the system is constantly improving in the vision of the public. It has extensive documentation on the creation of tokens and contracts. A downside is that Tezos is less popular, so tokens created on the platform have less traction.
Tezos gets a 7/10 from me.
Neo is my personal favorite here. Low gas fees, easy token creation, tons of wallet choices, the sky is the limit. On the front page of the developer portal, it makes this clear. The page shows that tons of possibilities are available to developers, including tokens, DeFi contracts and games. It supports tons of programming languages for its contracts, compared to the less-used ones of ETH. Neo honestly seems like a great implementation of the smart contract system, and I recommend any devs reading this take a look at the possibilities.
Neo scores an amazing 9/10.
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