May 11, 2023

Neo (NEO) Explained: What Is It and How It Works

Are you interested in learning more about NEO and how it works? NEO, also known as the Chinese Ethereum, is a blockchain platform designed to facilitate the development of decentralized applications (dApps). In this article, we will explain the basics of NEO, its history, its technology, and its future. If you are interested in Crypto, you may also consider knowing about the quantum ai app.

History of NEO

NEO was launched in 2014 under the name AntShares. It was rebranded to NEO in 2017, and since then, it has become one of the top 20 cryptocurrencies by market capitalization. The project was created by Da Hongfei and Erik Zhang, who are still leading the development team.

Technology behind NEO

NEO uses a unique consensus mechanism called delegated Byzantine Fault Tolerance (dBFT). This consensus mechanism is more energy-efficient than the proof-of-work (PoW) mechanism used by Bitcoin and Ethereum. dBFT allows for faster transaction times, lower fees, and higher scalability.

NEO is also designed to support multiple programming languages, making it more accessible for developers. Currently, it supports C#, Java, and Python, with more languages expected to be added in the future.

NEO uses two tokens: NEO and GAS. NEO is the governance token that gives holders voting rights on the NEO blockchain. GAS is the utility token that is used to pay for transactions on the NEO blockchain.

Smart Contracts on NEO

NEO has a powerful smart contract platform that allows developers to create and deploy decentralized applications. Smart contracts on NEO are written in high-level programming languages, making it easier for developers to create complex applications.

NEO also supports the creation of digital assets, such as tokens and certificates. These assets can be traded on the NEO exchange or used within decentralized applications.

NEO’s Future

NEO has a bright future, with many exciting developments on the horizon. The team is working on improving the scalability and interoperability of the platform, which will make it more attractive to developers.

In addition, NEO has formed partnerships with several companies in China, including Alibaba and Microsoft. These partnerships will help to drive the adoption of the NEO platform and its technology.


In conclusion, NEO is a blockchain platform with a unique consensus mechanism and powerful smart contract capabilities. It is designed to be accessible to developers, with support for multiple programming languages. With partnerships in place and exciting developments on the horizon, NEO has a promising future.

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