Neo (NEO): A "Chinese Ethereum"

Neo is a blockchain platform and cryptocurrency. A closer look on the token by Coinidol.com.

Neo (NEO) is a blockchain platform and cryptocurrency often referred to as "Chinese Ethereum" due to its similarity in providing a platform for developing smart contracts and decentralized applications (DApps). 

It was founded in 2014 by Da Hongfei and Erik Zhang as AntShares. Later in 2017 the project was rebranded to NEO, it was China's first open-source public blockchain.

Neo has a built-in digital identity system that enables users and entities to have verifiable identities on the blockchain. This feature is useful for complying with regulatory requirements and facilitating trust in digital interactions.

Delegated Byzantine Fault Tolerance (dBFT)

Neo uses a consensus mechanism called Delegated Byzantine Fault Tolerance, which is a variation of the traditional Byzantine Fault Tolerance (BFT) consensus. dBFT allows for fast and finality of transactions while maintaining decentralization and security.

Smart Contract Platform

Neo provides a platform for creating and deploying smart contracts using various programming languages, including C#, Python, and Java. This multi-language support aims to make it easier for developers to build DApps on the Neo blockchain.

NeoVM is the virtual machine that executes smart contracts on the Neo blockchain. It is designed to be efficient and secure while supporting multiple programming languages.

Tokens NEO and GAS

Neo has two native tokens, NEO and GAS. NEO represents ownership of the Neo blockchain and can be staked for voting and participating in network governance. GAS is used to pay for transaction fees and computational services on the Neo network.

NEO token holders can participate in on-chain governance by voting on proposals and decisions related to the development and upgrades of the Neo blockchain.

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