NEO Vs EOS Vs TRX (Tron) Vs XLM (Stellar) Vs ADA (Cardano) Altcoin Battle
NEO, EOS, TRON (TRX), Stellar (XLM), and Cardano (ADA) are five of the most intriguing altcoin projects in the crypto space today. Although all five are aiming towards different goals, they all stand a reasonable chance of increasing in value as development continues.
Some see NEO, EOS, TRON, XLM, and ADA as rivals. Others see them as friendly competitors. Some see them as five totally different projects with no major connection aside from being built on the blockchain and being in active development.
What’s the difference between NEO, EOS, TRON, XLM, and ADA? What did you need to know about each of these cryptocurrencies and blockchain projects? Let’s take a closer look in our brief overview.
EOS is like an upgraded version of Ethereum. Like Ethereum, EOS supports smart contract technology. And, like Ethereum, EOS is essentially a global computer: there’s no limit or rules about what can be built on EOS. Some of the popular services currently being built on EOS include cloud storage services, identity authentication services, account management, and more.
Another unique feature of EOS is its Block Producer (BP) voting system, where certain members of the community are elected to have extra control over the network. The mainnet launch occurred earlier this year. Aside from some small troubles with the BP voting system and democratic governance, EOS continues to be one of the most promising blockchain projects in the space today. EOS’s EOS token is routinely in the top 10 cryptocurrencies in the world by market cap.
Unlike Ethereum, EOS doesn’t charge a “gas” fee for every transaction on the network. EOS is also capable of processing millions of transactions per day. How does EOS do this? Well, it essentially passes the transaction costs onto decentralized app developers, who need to stake a certain number of tokens in exchange for receiving processing power from the network.
Like the rest of the crypto market, EOS’s price has fluctuated wildly in recent months. In April 2018, for example, EOS hit a high above $21 in anticipation for the launch of the EOS mainnet. Since then, EOS’s price has been on a steady downward trend, currently sitting at around $5 in September.
NEO made headlines last year for being the “Ethereum of China” or the “Ethereum killer”. Originally named AntShares, the project was launched in China in 2014. In June 2017, AntShares rebranded to NEO, and the token would soar to record heights before the end of the year.
Today, NEO is in an unusual spot. China banned cryptocurrency transfers and ICOs in fall 2017. The value of NEO has fallen amidst the rest of the crypto industry over the last few months. Nevertheless, supporters of NEO insist that there’s value in the NEP-5 token protocol, which claims to offer similar functionality as the ERC20 token on Ethereum for companies launching ICOs.
NEO is also home to several popular decentralized apps, and development continues to take place across the NEO ecosystem.
NEO has fallen off the top 10 rankings over the past few months, currently sitting at #14 on the list of the world’s largest cryptocurrencies by market cap. The launch of platforms like the Neon Exchange (NEX) have helped keep NEO’s development moving forward, giving investors an easy decentralized exchange where they can trade NEO and GAS.
NEO has gone through an interesting price trajectory, peaking in value in January 2018 at a high above $160 USD before plummeting to its current price of around $20.
TRON aims to decentralize the entire internet as we know it. While the two platforms listed above focus on decentralized app development, TRON is focusing more on content creation and delivery. With that goal in mind, TRON’s team is forging partnerships, making acquisitions, and expanding their marketing efforts.
On the technical side of things, innovations like the TRON Virtual Machine (TVM) and native smart contracts make the ecosystem an attractive development opportunity. TVM launched on August 30 and aims to help the platform compete with Ethereum for supremacy in the decentralized app world.
Tron does have some unusual side stories. Earlier this year, it was revealed that Tron founder Justin Sun had bought BitTorrent, for example, beating rival NEO in a bidding war.
TRON currently sits in the #13 position in terms of global cryptocurrency market cap rankings. There’s a total supply of 99 million TRX, with about 66 million TRX in circulation today. TRX’s price hasn’t gone through the same extreme fluctuations as other tokens on this list. Aside from a brief and dramatic spike in January, the price of TRX has remained between $0.020 and $0.080 for most of the past year. Today, TRX sits at the low-end of that scale, resting at around $0.20.
Stellar and its Lumens (XLM) digital currency are widely seen as one of the fastest blockchain-based protocols in the world today. XLMs can be transferred quickly and with minimal transfer times.
Today, Stellar is focusing most of its efforts on the financial side of things. That means it has different development goals than EOS and NEO. Nevertheless, Stellar has options in terms of payments, decentralized apps, smart contracts, and more, and Stellar Smart Contracts are generating buzz across the development community.
Stellar, like Ripple, has attracted some high-powered financial partners. This past week, it was announced that IBM was launching a new payments system powered by Stellar and its XLM tokens.
If you believe in blockchain as a financial platform for the future, then Stellar is one project to watch. Stellar is already competing with Ripple and its xCurrent and xRapid platforms while forging partnerships with major names across the financial space.
In terms of price movements over time, XLM was relatively unknown and undervalued from 2015 to mid-2017. XLM spiked in price in mid-2017rising to a high of around $0.05 before dropping back to around $0.01. In January 2018, XLM rode the wave of surging altcoin markets, reaching an all time high of $0.85 at the beginning of the month. Today, XLM has lost a significant amount of value, although it hasn’t experienced the 95% drop we’ve seen in other cryptocurrencies. Today, XLM sits at around $0.20.
Cardano’s ADA token surged in value in January, leading some to call it the next bitcoin. Since January, unfortunately for ADA holders, the token has lost 95% of its value. Nevertheless, Cardano continues to be one of the largest cryptocurrencies by market cap, currently occupying the number nine position in rankings.
The unique thing about Cardano is that it uses a proof of stake algorithm. Some believe this makes Cardano more scalable than its competitors. Others believe POS makes the system less secure.
Another promising thing for Cardano is its development of quantum resistance technology. Cardano may be the first major blockchain project to become truly quantum resistant. The project isn’t quite there yet, but development so far has been promising. From Ouroboros to quantum resistance, Cardano could lead the way forward into a POS-driven future – especially if the world continues to turn away from proof of work (POW) secured blockchains.
ADA currently sits at a price of $0.09, down from its all time high of $1.12 in early January 2018. Aside from a few small price bumps throughout the year, ADA has been on a downward trend for most of 2018.