- Hi all! The project I am working on is looking to move forward on the NEO blockchain platform. However, we are really still contemplating if that's a good move. I am looking for thoughts and comment on if our decision is a good one. Our criteria is mainly on the cost, development-easiness, and transaction speed side. Below are our justifications:
- Smart Economy - NEO specifically developed the blockchain with trades and economy in mind. Its goal is to digitize any physical assets. All users have a digital identity so that the owners are clearly identified. This is extremely important for legal compliance and legitimacy of ownership.
- High Transaction per Second (TPS) - NODIS.io has the potential to generate significant amounts of transactions due to the community validation feature. We need a blockchain that has high TPS. Bitcoin can do 3–4 transaction per second, Ethereum does around 15, and NEO is currently at 1,000 with the potential to get up to 10,000. Note that I am aware of Ethereum's Sharding but that may not be implemented until 2020.
- Free Cost of Storage (as of now)- As mentioned above, while there is a cost of 0.0001 GAS for each transaction, there is no cost for storage.
- Efficient Consensus Mechanism- NEO uses the Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism. It allows for the community to decide who will be the consensus node (bookkeeper). A consensus is achieved when two-thirds of the voting participants agree with the consensus node's version of the blockchain.3 This mechanism allows for quicker validations with less resource consumption for higher scalability.
- Finality- Due to NEO's dBFT consensus system, there will be no chance of forking. As long as the consensus node has 66% of the vote, the decision will be enforced. In the case that the community does not agree with the consensus node, a replacement bookkeeper will take the spot to propose an agreeable version.
- NeoContract (Smart Contract 2.0)- NEO uses a lightweight virtual machine called NeoVM. It allows for faster start up while taking less resources. It is highly scalable, reliable, and possesses high certainty through a combination of high concurrency, dynamic partitioning and low-coupling design. It also optimizes and reorganizes Smart Contract codes before executing for efficiency. Lastly, it can be used with familiar IDEs such as Visual Studio and Eclipse.
- Coding Language Flexibility- NEO allows for C#, Java, Python, and Go programming languages.
What do you guys think of these justifications? Do you think they are sufficient over the more popular Ethereum?[/list]
Original article from -> https://www.reddit.com/r/BlockChain/comments/9gvo68/why_i_am_using_neo_blockchain_for_marketing/?utm_source=reddit-android