NEO

NEO (formerly Antshares) is a cryptocurrency based on an open-source community-driven decentralised platform. It relies on a delegated Byzantine Fault Tolerance (dBFT) consensum mechanism and can support a maximum of 10,000 transactions per second.

The genesis block for NEO contained 100 milion tokens. Half of them were locked into a smart contract, while the rest were sold to investors. Each year, 15 million NEO tokens are unlocked from the smart contract and the NEO development team recieves them. These tokens are used to fund the NEO system.

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How old is NEO?

The cryptocurrency Antshares was founded in 2014, and the name was changed to NEO in 2017.

What are GAS tokens?

GAS tokens are used to pay transaction fees when using the NEO network. GAS tokens are generated by the NEO token, the base asset of the NEO blockchain.

The ecosystem has a built-in inflation mechanism for GAS, as the algorithm is designed to release 100 million GAS over approximately 22 years.

What is ONT tokens?

neo coinIn March 2018, ONT tokens were distributed among the NEO owners. For each 5 NEO coins held in the cryptocurrency wallet, the owner got 1 ONT token.

ONT tokens (Ontology tokens) are used as voting cards in the NEO system. This enhances the community influence, since members of the community (who own NEO coins) can vote on changes concerning the NEO system, e.g. system upgrades and new features.

What is X509 Digital Identities

X509 Digital Identities is a system used by NEO, through which developers can tie NEO tokens to real-world identities. This helps NEO comply with certain anti money-laundering laws.

Background

The cryptocurrency Antshares was created by Da Hongei and Erik Zhang in 2014. In 2015, it was open-sourced on GitHub, and its white paper was released in September.

In June 2017, the name Antshares was changed to NEO. The following year, a new organizational structure was implemented, where the NEO Council was abolished and replaced with three new entities: NEO Foundation, NEO Global Development (NGD) and NEO Global Capital (NGC).

The NEO Foundation funds both NGD and NGC, and is co-chaired by Honfei and Zhang.