Neo is an open-source blockchain decentralized application platform founded in 2014 by Da HongFei and Erik Zhang. Since its rebranding to Neo from Antshares in 2017, the project’s vision is to realise a “smart economy” by utilizing blockchain technology and smart contracts to issue and manage digitized assets.

Supply limit: 100 million
Original author(s): Da Hongfei, Erik Zhang
Ticker symbol: NEO, formerly ANS
Initial release: February 2014; 7 years ago as AntShares and rebranded as Neo in June 2017
License: MIT
Programming language:C#

Benefits and Importance of NEO CryptoCurrency

NEO VS Bitcoin & Ethereum

NEO can handle about 10,000 transactions per second whereas Ethereum blockchain currently supports around 15 transactions per second. As you can clearly see, there is a huge gap in the transaction speed. At a time when both Bitcoin and Ethereum are struggling to increase their speed, NEO provides a great alternative.

NEO Upgrade and Evolution

After four years of stable MainNet operation, Neo is undergoing its biggest evolution as it migrates to N3 – The most powerful and feature rich version of the Neo blockchain to date.

NEO Future

Neo provides a full stack of features out of the box, but doesn’t keep you boxed in.
Native functionality provides all the infrastructure you need to build complete decentralized applications, while advanced interoperability allows you to harness the power of the global blockchain ecosystem.

Benefits and Importance of NEO Cryptocurrency

NEO Smart Contract

Write smart contracts in a language you already love. Neo strives to be the most developer-friendly blockchain. It achieves this with full-stack development tools for multiple programming languages. Neo believes in bringing blockchain technology to developers, rather than forcing developers to learn new languages or tools.
The N3 smart contract system introduces a wide range of new functionality to improve the contract development experience for developers. Examples include a new dual-level permission setting, defined at the Manifest and Call levels, and the new NEP-17 token standard to simplify token transfers and enable contracts to add custom logic to trigger when receiving tokens.

NEO Tokens

Neo has a unique dual token model that separates governance from utility. NEO token holders are the owners of the network and are able to participate in governance. NEO holders also receive passive distribution of the network utility token, GAS – No staking required. GAS rewards are increased for voting participation. GAS is used to pay for network fees, smart contract deployments, and in dApp purchases.

NEO Governance

A dynamic on-chain council voted in by the NEO token holders. N3 introduces the ability for NEO holders to vote in council members and consensus nodes that maintain the liveliness of the Neo network and adjust critical blockchain parameters. GAS rewards are distributed to both voters and committee members.

Bottom Lines

NEO is a cryptocurrency and smart contract platform that supports applications written in a variety of programming languages.
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2 Comments

  • Fahim

    September 19, 2021 - 11:14 pm

    I want to invest in Cryptocurrency but Iat first I want to know well about it. Your article help me a little bit in this case.

  • Webgen Technologies

    October 19, 2021 - 2:25 pm

    Very well-written blog.Thanks for sharing and too much detailed and informative.

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