NEM Blockchain Co-Founder Takes Jab at Ethereum Saying Safety is XEM’s Difference Maker over ETH
NEM Co-founder Says that Safety is What Sets It Apart from Ethereum
NEM co-founder, Jeff McDonald, took some light jabs at Ethereum and in general, smart contracts, talking about the difference between his blockchain platform, NEM, and Ethereum. During an interview with journalists, he said that:
“Projects use NEM if they want a secure blockchain or their platform. If you want to raise a lot of money, Ethereum has built a whole ecosystem where you can make it, and become a part of the organization.”
Anyone who followed the conversation would easily argue that Mr. McDonald is interested in making things straight and simple, as he did not hesitate to mention things as they are. Although he did not directly mention it, the NEM co-founder said something about the recent hacks on Ethereum’s platform, clearly portraying that the NEM network was safer.
In a way, Jeff wanted the journalist to understand that clients seek NEM not because of incentives or giveaways but because they know that it NEM is a secure and safe platform to use. In his own words, Jeff said that:
“NEM doesn’t give millions of dollars to anybody; we believe that our secure technology is a filter. The projects who want safe and secure technology they choose NEM.”
NEM Security Vs Ethereum’s Funding
According to Jeff, Ethereum as a platform is superior when it comes to raising funds for its projects. He even praised is when he opined that most of the Initial Coin Oferrings base their projects on Ethereum.
However, Jeff McDonald did not leave any stone unturned. He is concerned about the safety and security of the Ethereum’s platform. To Jeff, Ethereum’s fame has increased over the last few days thanks to the recent reckless hacks. The most recent one – whether the stolen funds were returned or not – saw ether price plunge significantly, hitting a new 2018 low.
Over the years, many blockchain experts have had a constant heated debate on the better platform between NEM and Ethereum. This led to a bizarre comparison in the market when a few people in the community compared NEM to WordPress and Ethereum to HTML. The fact is that if you look critically at the comparison, it may be true, considering that NEM is a user-friendly platform while Ethereum’s smart contracts are built from scratch with the blockchain being the only foundation.
NEM Focuses on Both Small and Medium Businesses
McDonald did recognize that increasing the number of transactions on the NEM platform would hurt the company, but was quick to insist that doing so wasn’t part of their objective. He clearly noted that,
“Our focus is getting adoption and real people using blockchain.”
The NEM blockchain platform benefits both small and medium businesses, offering them an easy-to-use interface to help them expand their operations.
The Comments by Jeff McDonald may mean two things: first, it could imply that the NEM network is not chasing after Ethereum, its competitor; or, McDonald could be playing the underdog card, expecting to attract more investors to his platform.