Neo's current price is $5.64, with a 24-hour trading volume of $24.34 million. Over the past day, NEO has experienced a price change of +0.00%. The circulating supply of NEO is 70.54 million tokens.
What is Neo?
Neo is a blockchain platform designed to facilitate the creation of digital assets and smart contracts. By staking NEO, users can generate GAS, the secondary cryptocurrency on the Neo network. GAS serves as the fuel for the platform, used to pay for computational services or deploying smart contracts within the ecosystem.
Originally launched as Antshares, Neo is recognized as one of China's earliest open-source blockchain projects. It aims to build a comprehensive digital economy incorporating digital identity, assets, contracts, and payments. Often described as "China's Ethereum," Neo competes with other developer-friendly decentralized protocols, striving to establish a foundation for a future smart economy.
The platform focuses on achieving quantum resistance and cross-chain interoperability, positioning itself as a highly competitive distributed network. It utilizes a consensus mechanism known as Delegated Byzantine Fault Tolerance (dBFT), which supports transaction speeds of up to 10,000 transactions per second.
A Brief History of Neo
Neo was founded in 2014 under the name Antshares. Its creators, Da Hongfei and Erik Zhang, envisioned a scalable, versatile platform supporting multiple programming languages, all executable within a secure environment now called the Neo Virtual Machine (NeoVM).
A total of 100 million NEO tokens were created in the Genesis block. The project conducted two initial coin offerings (ICOs): one in October 2015, raising 2,100 BTC, and another in September 2016, raising 6,119 BTC. It also partnered with Microsoft for research and development, particularly within the Azure platform. The mainnet launched in October 2016.
In June 2017, Antshares rebranded to Neo, coinciding with the release of Neo 2.0, which introduced a complete smart contract system. In July 2018, founder Erik Zhang announced plans for Neo 3.0, which featured native decentralized storage, an oracle system, and improved economic and governance models. Neo 3.0 officially launched in August 2021.
The current circulating supply of NEO is 70,538,831, with a maximum supply capped at 100,000,000. Investors in the project have included Shibumi Crypto Capital Digital Asset Fund, Myriad Capital Management, Midgard Ventures, and Digichain Capital.
How Neo Works
Neo introduces a unique contract system named NeoContracts. Unlike other smart contract platforms, Neo allows developers to build applications using widely-adopted programming languages without needing to learn new ones. This flexibility makes NeoContract attractive to a broader developer base seeking to create or support decentralized applications (DApps).
The network operates on a dBFT consensus mechanism, which maintains blockchain synchronization across a distributed computer network. Similar to Delegated Proof-of-Stake, dBFT employs a real-time voting system to select which nodes can add the next block to the blockchain. This means every NEO holder can participate in network operations.
What is Neo Used For?
The Neo platform enables developers to use its software to run smart contracts (NeoContracts) and create DApps that replicate real-world products and services. It aims to be a more flexible alternative to Ethereum, employing a design philosophy that evaluates options across multiple variables.
The NEO cryptocurrency functions as the governance token for the Neo platform. Each token can be locked or staked to vote on proposed changes to the network. All stakers participate in selecting consensus nodes, which are responsible for producing new blocks. These nodes earn network transaction fees, paid in GAS, for their services.
Based on voting outcomes, Neo can adapt its market strategies and technical direction. For instance, developers can choose the appropriate level of decentralization for specific use cases or decide on key issues like on-chain versus off-chain governance. These capabilities broaden Neo's potential applications, encouraging adoption across both commercial and government sectors.
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Frequently Asked Questions
What is the difference between NEO and GAS?
NEO is the primary governance token used for staking and voting within the Neo ecosystem. GAS is the utility token used to pay for transaction fees, smart contract deployment, and other computational services on the network. Holding and staking NEO generates GAS rewards.
How does Neo's dBFT consensus work?
Delegated Byzantine Fault Tolerance (dBFT) is a consensus mechanism where NEO holders vote for consensus nodes. These nodes validate transactions and create new blocks. The system is designed to be fault-tolerant, efficient, and capable of handling high transaction throughput with finality.
Can I use popular programming languages on Neo?
Yes. One of Neo's key features is its support for common programming languages like C#, Java, and Python. This lowers the barrier to entry for developers who want to build DApps without learning new coding languages.
What is the total supply of NEO?
The maximum supply of NEO is fixed at 100 million tokens. The current circulating supply is approximately 70.5 million. No additional NEO will be created beyond the hard cap.
How is Neo different from Ethereum?
While both platforms support smart contracts and DApps, Neo emphasizes regulatory compliance, digital identity, and higher scalability. It also supports multiple programming languages, whereas Ethereum primarily uses Solidity. Neo's dBFT consensus also offers faster transaction finality compared to Ethereum's Proof-of-Work (now Proof-of-Stake) mechanism.
Where can I learn more about staking NEO?
Staking NEO typically involves holding the token in a compatible wallet or on a supported exchange. Rewards are distributed in GAS, proportional to the amount staked and the duration. For detailed guides, you can 👉 view real-time tools and resources.