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NEO πŸ”˜

NEO is a project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network.

NEO (cryptocurrency)

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NEO
Cardano logo
Logo of NEO
Ticker symbolNEO, formerly ANS
Development
Original author(s)Da Hongfei, Erik Zhang
White paperhttp://docs.neo.org/en-us/whitepaper.html
Initial releaseFebruary 2014; 5 years ago (2014-02) as AntShares and rebranded as Neo in June 2017[1]
Code repositoryNEO Github
Written inC#
LicenseMIT
Websiteneo.org
Ledger
Block time15-25 seconds[2][unreliable source?]
Block explorerneotracker.io
neoscan.io
Circulating supplyc. 65.0 million (as of 6 March 2018)[3][unreliable source?]
Supply limit100 million

NEO is a blockchain platform and cryptocurrency designed to build a scalable network of decentralized applications. The base asset of the NEO blockchain is the non divisible NEO token which generates GAS tokens that can be used to pay the transaction fees to utilize the NEO network.[4]

NEO rebranded from Antshares to NEO in June 2017.[5]

In March 2018, parent company Onchain distributed 1 ontology (ONT) token for every 5 NEO held in a user's wallet which will be used to vote on system upgrades, identity verification, and other governance issues on the NEO platform.[6]

A total of 100 million NEO were created in the Genesis Block. 50 million NEO were sold to early investors, with the remaining 50 million NEO locked into a smart contract. Each year, 15 million NEO tokens are unlocked which can be used by the NEO development team to fund long term development goals. NEO tokens generate a slowly deflationary amount of GAS tokens which are used to pay for transactions on the network. The inflation rate of GAS is controlled with a decaying half life algorithm that will release 100 million GAS over approximately 22 years.[7]

NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism and can support up to 10,000 transactions per second.[8][9]

The core of the NEO feature set revolves around tools that allow developers to efficiently deploy and scale smart contract applications on the NEO blockchain X.509 Digital Identities allow developers to tie tokens to real world identities which aids in complying with KYC/AML and other regulatory requirements.[7]

References

  1. ^ "Cryptocurrencies and blockchain" (PDF). European Parliament. Retrieved 19 January 2019.
  2. ^ Garner, Bennett (23 January 2018). "What is GAS? An Introduction to the NeoGas Crypto and What It Does Within NEO". Coincentral. Retrieved 24 March 2018.
  3. ^ "NEO (NEO) price, charts, market cap, and other metrics – CoinMarketCap". coinmarketcap.com.
  4. ^ "Cryptocurrencies and blockchain" (PDF). European Parliament. Retrieved 19 January 2019.
  5. ^ "Cryptocurrencies and blockchain" (PDF). European Parliament. Retrieved 19 January 2019.
  6. ^ Chang, Evelyn (12 March 2018). "'Airdrops' are coming". CNBC. Retrieved 23 March 2018.
  7. ^ a b Soeteman, Krijn (10 February 2018). "Operation of dBft mapped via Neo". Computable. Retrieved 23 March 2018.
  8. ^ "The new age of ICOs is here, and it's not based on Ethereum". TechCrunch. Retrieved 13 January 2018.
  9. ^ "Bitcoin and Cryptocurrency: What You Need to Know". Rolling Stone. Retrieved 27 December 2017.

External links

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