NEO Cryptocurrency: Everything you need to know

Have you heard of NEO cryptocurrency?

Founded in 2014, NEO (formerly known as AntShares) is a non-profit, open-source blockchain platform and crypto project.

It supports its own cryptocurrency, which allows for the development of digital assets and smart contracts in a bid to develop a smart economy using dencentralised applications.

If you’re keen to trade cryptocurrency in the form of CFDs, you can find out more about NEO cryptocurrency below.

What’s the story behind NEO cryptocurrency?

Founded by Da Hongfei and Erik Zhang in 2014 as AntShares, NEO aims to establish a smart economy. It was renamed NEO in 2017.

It does this by digitising assets, enabling smart contracts, and enhancing digital identity management via a distributed network.

It uses two native tokens, NEO and NEO Gas, on its blockchain-centric platform.

How does it work?

The key thing to note about NEO is that it works differently from other blockchain platforms.

It focuses on complying with regulations and developing a development platform for decentralised applications.

Its consensus mechanism is also different from Bitcoin and Ethereum, which is known as Delegated Byzantine Fault Tolerance (dBFT) to achieve high scalability and energy efficiency.

In addition, it differentiates itself by offering support for multiple programming languages, making it accessible to a wider developer community.

Having been through the ups and downs of the blockchain industry, NEO remains a key player in the blockchain ecosystem – continuing to explore innovative solutions for a more interconnected and efficient future.

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