NEM vs Ethereum. Programmer judges the crypto projects.

NEM vs Ethereum. Programmer judges the crypto projects.


Hello guys welcome to my new series it’s
called versus. So let’s start first I will list the biggest pros of every project
and then I will list the biggest cons of every project then I will be talking a
little bit about the future and my predictions and then that will be a
verdict so let’s start so I will start from Ethereum and the biggest pros of
Ethereum is that it has a big market big purchasing and marketing power a lot of
developers around around project and it’s decentralized with companies like
consensys working on it because of that there is abundance of articles tutorials
and tools for users and developers a second big point is that it has super
fast transactions the average fast time is around 15 seconds for a single
transaction this isn’t Steem(Steemit) fast but I believe it’s
the limit of the proof-of-work consensus another point Enterprise Ethereum
Alliance is another big coalition of companies and organizations trying to
solve the world’s problems together and they are using a Ethereum blockchain
although most of those companies joined only for the media coverage the private
chains of it Ethereum are very good solutions in companies where you need a permission
data access a fourth point it’s great for small businesses and ICOs I think
it’s self explanatory because of ERC-20 token Ethereum gave the
solution for everyone to become a small venture capital group and fifth point
smart contracts promising but under delivering on the decentralisation so
the contracts are just a great idea working only in some basic applications
like escrow and decentralized exchange systems
and almost all other applications are either susceptible in terms of security
or centralized so let’s jump to the NEM pros. It has the fast transactions
around one minute average transaction fees are constant and they are started
from 0.05 XEM per normal transfer second point it’s great for small companies to
blockchanize their solutions because of its token creation function and ease of
use you can do it even from the wallet NEM is getting more and more traction
in the range of small to middle sized companies Third Point easy to use API
with pre-programmed functions like a TV remote you are pushing button and each
button has its own property developers are just aggregating those buttons
together to create a blockchain contract so this is the API into the NEM blockchain
fourht point very wide area of use from steering the IOT devices through the
location services FinTech applications up to the notarization all those
functions are available on the main net not just in the test environment fifth
point private chain of NEM called mijin very widely used in the East
Asian countries by governments banks and private corporations so now let’s go
into the cons section so the con of the Ethereum is it’s smart contracts
because it’s unsafe without a versioning system and updateability and otherwise
its centralized more about it in my article which I will link in the
description second point low scalability a big congestion and gas price spikes
during the ICOs periods normally gas price is around one gwei but during the
ICOs and during the times when let’s say crypto kitties is launched it can go up
to even 100 gwei Third Point not a blockchain of choice for a big players even permission versions of it I’m not sure
why but big companies are rather using the hyper ledger with smart contract
possibility than private versions of ethereum fourth point to create a smart
contract you need to learn solidity special programming language there is
also advisable to know all the major pitfalls and have a good tester on the
payroll now let’s go to the cons of the NEM, NEM is a closed source project it’s
hard for the developers to gather and work on updates all developers that want
to work on NEM core need to be invited by centralized NEM Foundation which
controls NEM chain and funds it’s one of the most centralized projects in current
shape second point there is no possibility of making contracts on chain
gathering transactions together or making some kind of locks like time
locks in current shape lighting network on them is impossible there is lack of
self triggering logic on chain third point lack of clear roadmap foundation
is rarely speaking about updates and new features the new version of NEM called
catapult is planed to be launched on public chain in 2018 allegedly it
already runs on the private NEM chains called mijin fourth point small
adoption by the exchanges which is giving the new ICOs made on NEM hard
time when they are applying for listing mosaics and NEM is still a very unique
standard and now I will go into the future of those projects so I also have
it divided into two sections so the future for Ethereum predicted by me
so in current shape in Ethereum in my opinion is a good only for creating
initial coin offerings and even that there is a big market and commercial
power behind it I believe it lacks the major
feature which is ease of use knowing solidity and its pitfalls is a big entry
barrier for those companies who are interested in making their solutions
run on public blockchain but if those companies are willing to lose a big
market share and and decentralisation features just to bootstrap the products
on other platforms like NEM but future of Ethereum is unknown it’s one of the
fastest growing platforms with new updates implemented very often only time
will tell so what about NEM NEM regarding its centralization seem to
make fast decisions the core is being redeveloped as we speak into completely
new code based on C++ as the current NEM core is based on Java the NEM is fully
operational blockchain with a lot of followers in eastern Asia countries
although it’s gaining a lot of momentum in the Western countries as companies
are aiming to blockchanize their products and services which is super easy on NEM and
don’t require additional resources like for example a person who knows solidity
so the final thoughts I believe in 2018 NEM we will start gaining more traction
by producing more and more working platforms and big ICOs with a big 50
million dollars plus capital Ethereum will suffer a little we see many new
rivals on the horizon which will water down the purchasing power and
development resources I believe the technology is good on both
platforms NEM is suffering from lack of updates on the current version and
closed source Where on Ethereum there is too many traps for developers related to
the solidity language and of course we know NEM is preparing a new version so
we will see how it will work on that and I believe this is end of this video
please let me know if you like it or not if I should do more videos like that if
you like these vs. series because I’m planning to do more videos like that and
just give me some feedback on that if you like it what you would do
don’t like it about it just give me your honest opinion and if you liked this
video please hit the like button underneath please subscribe to my
channel because I’m doing daily videos about NEM and thank you for watching
see you next time bye

Author:

16 thoughts on “NEM vs Ethereum. Programmer judges the crypto projects.”

  • Thank you for the comparison video. Very helpful and honest regarding the pros and cons of each. Negative for NEM is closed source and not knowing what clearly lies ahead. Positively, I can see NEM appealing to small and mid sized companies. There will be much competition in the platform sphere in the future for both ETH and NEM. I wish you were more satisfied with the NEM foundation.

  • goatmonkey2112 says:

    I like this format. I don't really feel like you need to pick a winner. There are different platforms to handle different situations. I think they can all coexist. Some will do better than others of course. Even before the catapult update NEM compares well against any of the top players on a technical level. I would like to see NEM with a new person who can be the English speaking evangelist for NEM. I like Lon Wong, Jeff, and Alexandra, but they aren't really on the level of a Steve Jobs, or even Charles Hoskins, Vitalik, etc.. NEM just straight up needs some marketing too. Maybe they will do something once Catapult is live.

  • The biggest problem with NEM is that you are always going to be restricted to what the devs think is important. With Eth, solidity gives innovators the tool to build anything. NEMs closed source means you are always at their mercy…

    About that mercy… The true problem with NEM is their lack of integrity. They refused to distribute coins to all initial stakeholders, instead keeping over a billion coins for themselves.

    If they are willing to cheat hundreds of initial stakeholders, why would anyone trust them with the future of their business.

  • I like you and your
    videos but find the painting in the background very disturbing. Looks like a woman being predated by old men in business suites. Would highly recommend to put something more neutral there.

  • Timothy Ortiz says:

    I like this idea. One improvement might be to find a co-host or weekly guest to be a foil. You could take one crypto and the other person takes a different one every week. Or something….

  • Dwayne Johnson says:

    I learn something new from you everyday. I appreciate you.
    This new vs series is going to blow your channel up!! Great idea
    I'm watching keenly….

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