Home Altcoin News NEM (XEM) vs. Lisk (LSK) – Will an Altcoin Overtake Ethereum (ETH) This Year?

NEM (XEM) vs. Lisk (LSK) – Will an Altcoin Overtake Ethereum (ETH) This Year?

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People have long been asking the question: What is the next Ethereum (ETH)? Maybe there won’t ever be a new Ethereum, but there are several coins that are close in concept, if not in price. Here’s why we put NEM vs. Lisk and why both are creeping up on Ethereum.

NEM (XEM)

Smart contracts are one of the best things about Ethereum. Binding, automatic, and no third-party hindrance. Just set up to your specifications and go.

NEM has the Smart Asset. While a slightly different concept, a Smart Asset does allow for the customization of an Ethereum smart contract. The NEM Smart Asset allows you to completely customize how you want to use the NEM blockchain.

Customization ranges from naming your space on the blockchain to individually naming Mosaics, which are the building blocks of Smart Assets. Mosaics can represent whatever you like – a coin, a signature, a status update, anything. You can then create a specific address to act as a container for your Mosaics.

NEM’s platform is about managing assets. These include currencies, ownership records, supply chains, etc. It’s about bringing blockchain into your business and making it easy and accessible to work with.

With NEM’s Smart Asset technology, you build what you want and you manage it how you want. By connecting your customized Smart Assets together, you’ll be able to produce almost any type of business transaction on your blockchain.

Many new coins launch on the Ethereum platform. NEM, too, is capable of launching brand new cryptos via its customizable Smart Asset system. The system allows you to name it, allocate a set amount of tokens, and define the coin’s divisibility, transferability, and levy. It’s that simple.

There are numerous other applications available via NEM; you can read about them here. However, the Smart Asset application, NEM’s defining application, is what brings NEM the closest to Ethereum.

NEM moved into the 10th largest crypto by market cap space and previously it has ranked as high as 6th. XEM is currently selling for $0.411882.

The question with NEM is, would people choose NEM over Ethereum when Ethereum remains strong?

>> Coincheck users being refunded their NEM

Lisk (LSK)

Much like the Ethereum platform, Lisk is a platform designed to be built on. Lisk is looking to make it as easy as possible for developers to build off of it and create a brand-new ecosystem of dapps.

With Lisk, you can build up your own blockchain using simple and free tools. You create a sidechain that can, once completed, exchange data with the Lisk mainchain. Because Lisk allows you to build off it via sidechains, scalability is less of an issue. A customizable sidechain can scale easily as your project grows.

Whatever you can imagine, you can build on Lisk. From trading games to supply chain verifications, anything is possible. Put it on a Lisk sidechain and see how the world interacts with it.

How does this differ from Ethereum? It mostly comes down to programming.

To develop a sidechain with Lisk, all you need to know is JavaScript. Ethereum makes you learn a whole new programming language, Solidity, in order to develop anything on the Ethereum platform. Why take the extra step if it isn’t necessary? This may be one of the biggest advantages of Lisk over Ethereum, considering how many people are already familiar with JavaScript.

The problem with Lisk is that ever since rebranding, LSK has fallen in the rankings. It is currently ranked as the 19th largest cryptocurrency, a far cry from Ethereum’s second place. LSK is currently selling for $12.14.

>> Can Lisk overcome its struggles?

The Next Ethereum?

It’s hard to imagine anything overtaking anything when the market is down like it is now. It’s also hard to imagine anything overtaking the behemoth that is Ethereum. But Ethereum isn’t immune to the fluctuating crypto market, any more than any other crypto.

ETH’s price has dropped off significantly in the past month, now selling below $650. Does that automatically mean another crypto is going to take its place? Of course not, especially if all the other projects are dropping too, which they mostly are. But there are other projects out there with similar capacities to Ethereum, and in some cases, they may be doing something better.

A year, perhaps, is too soon, but there are other projects creeping up on Ethereum, NEM and Lisk included.

What project do you think has the potential to overtake Ethereum?

>> Get ready for Crypto Madness: Fill out your bracket and vote for your favourite ICO

Featured image: Tumisu

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