What is NEO? How NEO works?

What is NEO? How NEO works?

By PrisonedBus9641 | Cryptonews9641 | 9 May 2020

NEO was born to solve some cryptocurrency problems, trying to help reduce the inefficiencies that represented the first phase of Bitcoin & co developments.
Also called the Chinese Ethetereum, this token is the basis of the first decentralized and open source cryptocurrency and blockchain platform launched in China. NEO has another crypto-token called GAS.

NEO has the stated objective of fueling a smart economy through direct contribution with new digital resources and with the versatile introduction of smart contracts, as is the case for Ethereum. Formerly known as Antshares, the development team has chosen to rename its facility to NEO at Microsoft's headquarters in Beijing. The project was renamed because NEO in Greek means novelty.







NEO aims to convert traditional resources into digital using smart contracs. Digital assets will be decentralized and protected using digital certificates on the blockchain. NEO will allow the creation of information on the identity of organizations, individuals and entities in electronic format. It will be available through authentication mechanisms on multiple integrated factors, such as facial recognition, fingerprints, voice recognition.


NEO unlike other smart contracts platforms, does not require the use of specific languages: if you are a developer who uses C #, Java or other traditional programming languages, you can immediately start coding your smart contracts with the Universal Lightweight platform Virtual Machine (NeoVM). This gives a substantial boost to the NEO system in the future.


NEO has two cryptographic tokens:

NEO: formerly known as Antshares (ANS). NEO acts as a token in the investments of the NEO blockchain. It has a total hard cap of 100 million tokens which will be used for block building, network management, network changes and other activities. NEO is not divisible, so the smallest unit will always be 1.

GAS: formerly known as Antcoins (ANC). The GAS token has a limit of 100 million hard caps but is intended to serve as fuel for the NEO blockchain. Unlike the NEO token, GAS is divisible.









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