NeuronChain vs Ethereum

Dmitri Dervoed
Articles
 — Apr 29, 2019
4min. read

Comparison between Ethereum and NeuronChain

Philosophy

The Ethereum network is designed as a neutral platform and the Ethereum Design Rationale document states that Ethereum has no features and users are expected to create their own special sub-protocols inside of contracts. This allows for a high level of flexibility, however, Ethereum developers are expected to be proficient in Solidity, which is a less accessible and somewhat complex programming language.

NeuronChain operates as an open source and fully transparent network technology, which facilitates cross-chain smart payments, decentralized payment processing and financial dApps. In addition, the network is supported by a non-profit, decentralized method of governance that is made up of network participants.

2) Governance and Consensus

Ethereum uses a Proof-of-Work mechanism, which requires a high amount of computation and energy resources, and is in the process of switching to a more efficient Proof-of-Work/Proof-of-Stake hybrid system. Ethereum also places a high importance on code, and any major disagreements are solved via forks, such as during the DAO hack.

NeuronChain uses a hybrid DPoS + TaPoS consensus mechanism that allows all network participants to vote for the delegates that create blocks and help secure the network. Coin holders also vote for the Committee members that help to administer any significant changes to the network.

3) Scalability

The Ethereum network generally achieves 15 transactions per second (tps) and has reached 25 tps under testing, and transactions can take anywhere from 15 seconds to 5 minutes to process. As a result, the network is prone to congestion and has been bogged down by applications such as Cryptokitties, or the FCoin exchange voting process.

The NeuronChain blockchain is on main net and currently supports up to 100,000 tps and has the potential to scale to 1 million tps by the end of 2018. In addition, transactions are processed within just 1-3 seconds.

4) Network Fees

Ethereum uses gas fees that accompany every use of calculation, storage, or bandwidth utilization. Users select fees themselves, and miners have the option of selecting transactions depending on fee size, and the entire process can become complex with users who commit more funds to fees having a higher chance of having their transactions completed.

The problem arises from the fact that a commission fee per transaction is a user defined value and not a static one. Theoretically, a user can set a minimum commission fee or set it to zero, in which case such a transaction can take a few days to confirm, or may well remain unconfirmed. In other words, if your transaction must be processed quickly, you must be able to afford a higher commission.

NeuronChain was designed to facilitate low cost, and high speed transactions, and as a result, incorporates the simple to understand, low static fee structure of 1 Neuron Coin per transaction irrespective of the load.

Conclusion

Ethereum has paved the way for thousands of blockchain projects to see the light of day and it has been the poster child of blockchain in the recent years but that does not stop it from facing problems like scalability, fees etc..

NeuronChain was built with the vision to merge the distinct advantages of a decentralized system with the solidity and trust of a centralized system. It attempts to fix the issues of throughput, scalability, confirmation times, fees and efficiency to name a few.

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