Smart Contracts Developer Perspective Showdown
At the time of writing, there are more than 40 blockchain projects that you can choose from for the deployment of smart contracts.
Each project has pros and cons, and it’s beyond the scope of this article to cover all of them. Instead, I will be focusing on specific criteria to try to help you understand what factors to consider when selecting a Blockchain platform.
There is an organization that tries to rate these different blockchains; it’s called the China Center for Information Industry Development (CCID). CCID utilizes contributions from professors and researchers at China’s most prestigious educational institutions including Tsinghua and Beijing University to take into account features, adoption rates, and many other indicators to rank each blockchain. However, these ratings change often, and you should check the latest blockchain ratings on the web site:
Further, determining what blockchain to utilize to publish smart contracts should take into account more factors, such as your team’s ability, funding, the number of needed transactions, the number of accounts needed, wallets, exchanges, and much more. Another major indicator to consider in determining the health of a blockchain is the user and developer adoption. You can find the current number of dapps for different smart contract platforms by checking these sites:
Looking through the list of dapps, keep in mind that although there are 6,050 dapps listed on Dappradar.com at the time of writing, there are only 106,938 users, which indicates that few dapps are being used and mass adaptation is not here yet. Additionally, note that this comparison holds true at the time of writing and is based on my opinion. You should do your own research and due diligence before selecting the ideal blockchain to fit your smart contract needs. The table below provides a comparison.
— Ethereum’s biggest pro is that it was the first and most popular smart contract platform and has the most developers, third-party tools, support, documentation, and support community. The biggest downside is the Ethereum scalability issue of using PoW; there is a hard fork in the works at the time of writing to remedy this downside and move Ethereum to PoS. Another downside is the cost of 200 gas per byte for source code; this is pricey if your code is not optimized, especially as you need to constantly republish your code. Lastly, the support for less popular programming languages such as Solidity is less than ideal.
— EOS’s advantage is its scalability and ability to run
millions of transactions per second with no change, as well as faster code execution using WASM. EOS supports C and C++, and the actual blockchain coded in C++ gives it an advantage as C has a larger developer base than Solidity. However, EOS has a long way to go in terms of adoption, providing $1 billion in funding can be useful for companies and individuals with the right idea. Its high ratings and great features are not enough to replace Ethereum in terms of dominance, as it claims to be. Only time will tell.
— NEO supports major programming languages (C#, VB.NET, Java, and Python), giving it a big advantage as a large number of developers can code with a smaller learning curve. Additionally, the efficient and inexpensive computationally execution of contracts is an advantage; however, NEO has the smallest community support out of the three platforms, and the stiff 5,000 NeoGas to register digital assets yearly may be a buzz killer for many potential projects.
As I mentioned, there are more than 40 blockchain projects that you can choose from, I only covered three. Feel free to use the criteria I mentioned in this article and plugin the blockchain you are considering utilizing.