8 Best Alternative Smart contract platforms to Ethereum

Ethereum is ranked as the most popular smart contract platform. Yes, Bitcoin also does smart contracts but is not known for its smart contract functionality as Ethereum is! The term, Smart Contracts, was promoted by Ethereum. Its capability of possessing a network for ERC-20 tokens (known as a standard for any upcoming ICO tokens) and providing a framework for building decentralized applications has made the Ethereum blockchain the top selection for the developers.

But today, when many other platforms providing the smart contracts functionality have hit the market, it's likely for the Ethereum platform to be replaced by some major alternatives available. Some of these are listed below:

Ethereum Classic (ETC)

Ethereum Classic was formed as a result of a fork in the Ethereum blockchain. It carries all the features and technicalities of the original Ethereum but at a quite lower cost. ETC is also believed to be a better version of ETH as it doesn't reverse the transactions like ETH does. Ethereum Classic operates as a separate entity to Ethereum.

Ethereum classic is slowly stepping over a powerful main Ethereum blockchain. Ethereum classic is fully compatible with the smart contract programming of Ethereum.

The Ethereum has planned to swift from Proof-of-work to Proof-of-stake, or another type of algorithm by which a blockchain network aims to achieve consensus. While the Ethereum Classic will stay on Proof-of-work.

The price of ETC will skyrocket if people start switching to Ethereum Classic. Note that the reason why Ethereum takes a large portion in the market now is that there are tons of projects that are built on top of Ethereum and they need to pay ethers in order to run their programs. Currently, the price of ETC is almost 23 times lower than ETH. However, it’s also believed that the ETC might not follow the future changes done to Ethereum.

Pros

1. People can save money cost from Ethereum projects to switching to Ethereum Classic. After all, Ethereum Classic and Ethereum uses the same protocol and they are running the same code.

2. The price of ETC will skyrocket if people start switching to Ethereum Classic. Note that the reason why Ethereum takes a large portion in the market now is that there are tons of projects that are built on top of Ethereum and they need to pay ethers in order to run their programs. Currently, the price of ETC is 23 times lower than ETH.

Cons

1. Most major developers are supporters of the new hard forked Ethereum. The community of ETC is quite small, and most people buying it are not real users that use the token to execute programs.

2. Ethereum Classic may not follow the future changes made to Ethereum.

3. It is said that many ETC buyers are Bitcoin supporters that don’t want Ethereum to succeed.

NEO (NEO)

The NEO blockchain platform is the first to be launched as an open-source blockchain project in China and hence it's popularly known as Chinese Ethereum. Like Ethereum, NEO also provides the decentralized network and also the smart contracts platform without any third-party indulgence.

However, NEO has a number of factors where it outperforms Ethereum by a fair number. Such factors include the scalability in terms of higher number of transaction processing at once, multi-language support as compared to Ethereum's only language - Solidity, no hard forks, and many others.

Soft Fork is possible but not Hard Fork because, it wants to prevent any random hard forks like the Ethereum/Ethereum classic debacle, so it is coded to avoid this entirely.

We cannot mine NEO, instead, the token holders are given NEO GAS.

Pros

1. NEO had success in developing digital assets that being their focus іn 2016 when they were called Antѕhаrеs.

Cons

1. All are fighting for a root chain. So, can be many root chains.

2. Legislative unknowns should make NEO be approached with саutіоn аѕ well as all сurrеnсіеѕ built in the very ѕtrісt governmental system of China.

Stratis (STRAT)

Stratis supports C# compatible with the Microsoft .Net framework. It offers end-to-end solutions for C# blockchain applications from development to deployment on the .Net framework. It is a "Blockchain as a Service (BaaS)" platform that allows the developers to build their custom decentralized applications.

With the feature of smart contracts inculcated in Stratis, it's one of the competitors of ethereum in the said domain. Stratis makes the blockchain implementation extremely flexible for the companies as it itself builds the complex blockchain framework for them.

Pros

1. The developers can easily build a decentralized blockchain quickly and easily. It can be written in C# and using .NET framework.

2. STRAT is aiming to provide a solution to business to ensure that they саn tеѕt and dерlоy projects ԛuісkly and with a high level of ѕесurіty.

3. Aррѕ built on Strаtіѕ will run in their ѕіdе-сhаіnѕ and this will help avoid the mаіn Strаtіѕ сhаіn from bесоmіng blоаtеd and Tumblеbіt wallet will аllоw transfer between Bіtсоіnѕ and Strаtіѕ tоkеnѕ.

Cons

1. Not a platform for the mаѕѕеѕ. So, ѕlоwеr аdорtіоn is expected.

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