A community-based blockchain project
NEO is an open-source blockchain platform launched in 2014. It aims to leverage the intrinsic advantage of blockchain technology to realize the optimized digital world of the future. NEO rebranded from Antshares in 2016 and relies on a dual-token model with NEO and GAS tokens. GAS tokens are used to perform transactions on the blockchain and distributed by holding NEO in wallets.
NEO uses dBFT2.0 consensus algorithm and uses NeoVM, NEO’s own virtual machine that supports smart-contracts. It also has other blockchain features like NeoID (a decentralized identity protocol) and NeoFS (a distributed object storage solution for on-chain data applications). In 2020, NEO is expected to launch Neo3, an improved NEO blockchain which offers many improvements like enhanced stability and security, an optimized smart-contract system, and more.