Neo [NEO] has come a long way, and is slowly taking its rightful spot in the smart contracts space, and that’s the top spot. When compared to Ethereum, NEO is simply in a class of its own. Take for instance the issue of digital identity. Neo takes into consideration the fact that government regulation will be a critical component of the digital economy.
Even as many blockchain platforms push for anonymity, Neo is designed to take into consideration the permanence of government, by creating an ecosystem where governments and digital corporations have a common meeting point. That’s quite unlike Ethereum, which is designed to only empower developers create their own digital identities secured by the platform.
Essentially this means that NEO [NEO] is building a smart contract ecosystem that mirrors the future of blockchain technology, while Ethereum is utopian and a bit too idealistic. That’s because it doesn’t factor in the permanence of governments in the digital economy.
But this isn’t even much of a big deal to the future growth the of the NEO ecosystem. The real deal is in the upcoming Trinity project. In coming months, Neo will be launching the Trinity project as part of its development roadmap. The idea behind Trinity is for complex processes and transactions to be done off-chain, with only the final product running on-chain.
This will add three critical features to the NEO platform. Firstly, it will significantly increase the scalability potential as compared to Ethereum. That’s because a majority of the transactions will be taken off-chain hence eliminating the problem of congestion on the main-chain. This will see a drastic increase in the number of projects launching on the Neo platform, which is a plus to the value of Neo [NEO] in the smart contracts space.
Trinity will also cut by a significant portion the cost of running smart contract applications. That’s because on the smart contracts space, the more complex the applications that run on the chain, the more the fees required for the extra computational power.
That’s why Ethereum transaction costs have been on the rise, in tandem with its growing scalability issues. This issue will be a thing once trinity is implemented on the NEO ecosystem. Already NEO is way better than Ethereum in terms of costs and with trinity, you can expect the gap to widen even further. This will give NEO the extra edge it needs in its ride to the top, as the number one smart contracts platform.
On the above basis, you should be putting your money into Neo [NEO] right now. Thanks to the recent drop in the overall crypto market, NEO is trading at a heavy discount. At prices of below $100, that’s a bargain for a crypto that has so much potential to dominate the future of the digital economy. Once trinity is implemented, the long-term potential of Neo will be in the region of $1000 and above. That’s a good return for savvy investors who choose to get in now.