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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