Neo (NEO)

The exchange rate of one NEO at 13:28 UTC is 15.02$

Chart | Average rate

“Neo” is a distributed network that uses blockchain technology and smart contracts to automate the management of digital assets. The mission of the blockchain is to make any asset, digital or physical, available to real people and computer programs with minimal permissions.

NEO was developed by Da Hongfei, one of the most respected cryptocurrency experts in China, and Erik Zhang, the author of an algorithm for detecting dishonest blockchain participants. The blockchain was founded in 2014 under the name “AntShares” (ANS), but changed its name to NEO in 2017.

In addition to the rebranding, Neo distributed its NEO tokens through an ICO and established the Neo Council, which consists of the founding members of the project, a governance committee, a technical committee, and a secretariat, who are responsible for promoting and developing the product.

In 2021, Blockchain Neo released its latest update to the N3 smart contract platform. At the initial stage, the platform was called the “Chinese Ethereum killer”, but at the moment it has not been possible to surpass Ethereum. However, Neo is much better suited to the realities of the Chinese economy: the cooperation of private companies with the state and the integration of blockchain into the real production sector. Also in Neo, unlike Ethereum, there is the possibility of cross-chain transactions for the seamless exchange of different digital assets among themselves.

The Neo blockchain has two native tokens for its ecosystem: GAS and NEO.

The GAS token gives the right to use the Neo blockchain, and the NEO token gives the right to manage the blockchain. NEO token holders can participate in both on-chain and off-chain governance structures. For on-chain governance, holders can use their NEO tokens to vote on network protocol updates, receiving GAS tokens as a reward for participation.

Off-chain governance decisions can be voiced to the Neo Council. The Board is responsible for making strategic and technical decisions and for implementing changes.

The main feature of the Neo blockchain is its decentralized identification tool “NeoID”. NeoID provides the ability to perform on-chain authentication, which allows you to verify user data without the need for disclosure. The NeoID identity platform is widely used for decentralized applications and can be integrated into data, attribute verification tools, and other identity services.