NEO (NEO) is a Chinese-based digital currency and blockchain platform in operation since 2014. NEO is self-described as "a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a "smart economy" with a distributed network."
<p>According to the NEO website, a smart economy equals <strong>Digital Assets + Digital Identity + Smart Contract.</strong></p>
<p>Steem (STEEM) is the younger of the two currencies, having been created in 2016. It has enjoyed quick growth and popularity due to its innovative social media platform <a href="https://steemit.com/">Steemit</a>. </p>
<p><a href="https://steem.io/">Steem</a> and <a href="https://neo.org/">NEO</a> are similar in that they both offer alternative features with their digital currencies. This article examines those features, as well as the altcoins' performance in the market.</p>
|
|
NEO
|
Steem |
| Utility
|
Peer-to-peer payments and smart contracts
|
Reward for contributing to Steemit platform |
| Circulating Supply | 65 million
|
Above 250 million |
| Total Supply | 100 million
|
268 million |
| Community | Large | Large |
| Market Capitalization | $4.6 billion
|
Just over $500 million |
| Daily Trading Volume | $124 million
|
$2.3 million |
| Public Awareness | Low | Low |
Utility
NEO uses peer-to-peer payments, and like Steem, it does not just operate as a digital currency. It focuses on providing a smart economy featuring digital assets. NEO uses smart contracts for proof-of-ownership and trading these assets.
<p>Steem also uses a peer-to-peer payment option. Uniquely, Steem rewards its users with its currency when they contribute to it social media platform, Steemit.</p>
Supply
According to CoinMarketCap, NEO has a circulating supply of 65 million, and a total supply of 100 million. In comparison, Steem's circulating supply is hovering above 250 million, with its total supply just over 268 million.
<h2>Community</h2>
As China's first digital coin, NEO is now one of the most widely recognized currencies in the digital market. Its decentralized community has proven popular among developers.
<p>Its NEOContracts supports a number of different programming languages. This allows developers to create smart contracts without having to learn a new programming language.</p>
The popularity of Steemit has also provided Steem with a community of users that continues to grow. The social media network is well known among investors and is growing globally.
<h2>Market Capitalization</h2>
According to CoinMarketCap, NEO has a market capitalization of $4.6 billion. In comparison, it shows Steem with a market capitalization of Just over $500 million.
<h2>Daily Trading Volumes</h2>
At the time of writing, Steem had a trading volume of $2.3 million. CoinMarketCap currently shows NEO with a trading volume of $124 million.
<h2>Public Awareness</h2>
Steem has enjoyed a quick rise to fame in the digital currency world. However, the public awareness around the currency remains low.
<p>NEO is currently China's largest coin and is currently placed in the top ten global ranking list. Like Steem however, its public awareness is on the low side (outside of China).</p>
Conclusion
When analyzing growing currencies with high potential, its impossible to ignore NEO. In a short space of time, it has grown to be one of the most recognized currencies in the market.
<p>NEO is of strong appeal to developers as it supports popular coding languages. This, combined with the unlimited potential of smart contracts, could make NEO "the next big thing."
<p>There is also a lot of potential for Steem to keep growing. Its blockchain social media concept was the first of its kind and has proven to be a big success.</p>
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