Hello,
Just a quick general question: What is the primary difference between NEO and ADA? I believe in what the Cardano company is doing and will be investing with the company, but I am at a loss as to how this differentiates itself from NEO.
Besides the differences in development philosophy and techniques Neo is more of a “corporate” or “enterprise” chain compared to Cardano’s “garage developer” approach from what I understand. What I mean by this is It takes a large sum of money to deploy on top of Neo. They have this model so the users enjoy free transactions and the costs are paid for by the businesses deploying apps. This limits the usefulness of the chain to established well funded businesses. Cardano has a more grass roots approach and will make it affordable for anyone to develop on the chain. At least this is my understanding and I do not have a source to cite at this time. I’m not sure I can locate the source where I learned this. Aside from that they are both attempting to solve many of the same problems.
(edit) here is one of my sources https://youtu.be/tO2zu_SMjt4?t=19m56s
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I didn’t realize that the business would have to fork over the fees. Some companies might do this, but I don’t see this being implemented as a normal world currency. My biggest problem with ADA right now is that I can’t buy it outright. I have to buy ETH first, wait for the transaction to be completed after a few days (while ETH goes down slightly faster than ADA) and then I am able to have a stake in ADA. They need to fix that really quick if they want a chance at moving up from the 5 slot.
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That’s not up to Cardano, I’m sure they’d love to be paired with fiat, but the exchanges make their own decisions on such things.
Also, I don’t know why the process takes so long for you. On Sunday it took me only two or three hours to convert GBP (credit card) -> ETH (Coinbase) -> ADA (Binance).
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I was going to use a credit card, but I wanted to go slightly over the 300 limit set per week by coin base. At this price, I feel as though it is a great buying opportunity and wanted to start filtering in part of my portfolio to it. I mean I can understand why they haven’t adopted it yet though, they probably need the market cap to get around 50B or so before they will take it on.
Neo is trying hard to be submissive to the Chinese government and has little concern about protecting privacy or aligning with a very oppressive government. Ada however Is striving to be a general force for good by chasing extra head wind through technoloigical merit alone and preparing her ship to be steered by all who sail in her ( not through shady top down deals made with useful dictators).
On an ethical funding basis, Ada wins hands down.
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I ended up digging in and doing a little bit of research here. NEO’s block chain program is C, C#, C++, python, and java compatible. However, Cardano (ADA) is built off of a Haskell programming foundation that can adopt and adapt to other programming languages on top of it. I’m guessing that this includes all of the NEO compatible languages, plus COBOL - the language of the banking industry. This is what will allow them to actually bring the currency or token to the consumer.