Steem vs. NEO: A Comparative Guide

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&#39; performance in the market.</p>

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</a>. In comparison, it shows Steem with a market capitalization of Just over <a href="https://coinmarketcap.com/currencies/steem/">$500 million.

<h2>Daily Trading Volumes</h2>

At the time of writing, Steem had a trading volume of $2.3 million. &nbsp;CoinMarketCap currently shows NEO with a trading volume of &nbsp;$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&#39;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>

<p>To keep up to date with these and all the top digital currencies, sign up for <a href="https://mediashower.com/ce2/66086/2052/10622" onmouseout="window.status='';" onmouseover="window.status='https://www.bitcoinmarketjournal.com/subscribe/';return true;">the Bitcoin Market Journal investor newsletter</a> today!</p>