What is NEO?
NEO is a blockchain-based cryptocurrency and application platform used to run smart contracts and decentralized applications. The project, originally named Antshares, was founded in 2014 by Da HongFei and Erik Zhang and rebranded as Neo in 2017. It operates on a proof-of-stake decentralized Byzantine fault-tolerant consensus mechanism and can handle up to 10,000 transactions per second.
Goals of this cryptocurrency
The purpose of NEO is to create a smart economy by digitizing assets and identities through smart contracts. It aims to automate digital asset management and facilitate the development of decentralized applications. NEO also has the goal of introducing interoperability, allowing different blockchains to communicate with each other.
Fundamental economics of NEO
The total supply of NEO tokens is 100000000 NEO. The market capitalization of NEO is $137928848. The token distribution plan includes 50 million NEO tokens sold to early investors, and the remaining 50 million NEO tokens are locked into a smart contract, with a maximum of 15 million NEO tokens unlocked each year for the Neo development team to fund long-term development goals.
The technology behind NEO
NEO's technology is based on a blockchain platform that supports smart contracts and decentralized applications. It uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, which designates nodes in consensus rounds using a 'staking' method similar to proof-of-stake to achieve a majority agreement of more than two-thirds. NEO also uses a dual-token mechanism, with NEO and GAS tokens serving different functions on the network.
NEO compared to its competitors
NEO differentiates itself from competitors through its focus on being regulatory-compliant and a development platform for decentralized applications. It uses a different consensus mechanism called delegated Byzantine Fault Tolerance (dBFT), which is reportedly capable of achieving 1,000 transactions per second. NEO also has a unique approach to digital identity, requiring participants to have a unique digital identity that can be verified.
NEO price history
Frequently asked questions
NEO is a blockchain-based cryptocurrency and application platform used to run smart contracts and decentralized applications.
The purpose of NEO is to create a smart economy by digitizing assets and identities through smart contracts.
The total supply of NEO tokens is 100000000 NEO.
The market capitalization of NEO is $137928848.
NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism.
NEO has several use cases, including investment purposes, participating in network decisions, and earning GAS rewards through staking.
The token distribution plan includes 50 million NEO tokens sold to early investors, and the remaining 50 million NEO tokens are locked into a smart contract, with a maximum of 15 million NEO tokens unlocked each year for the Neo development team to fund long-term development goals.
NEO differentiates itself from competitors through its focus on being regulatory-compliant and a development platform for decentralized applications.
The NEO dBFT consensus mechanism designates nodes in consensus rounds using a 'staking' method similar to proof-of-stake to achieve a majority agreement of more than two-thirds.
Features
Resources
Drakkar-Software © 2021-2026 Copyright. All rights reserved.