Neo (NEO): The “Ethereum of China” Ready to Change the Crypto World!

Neo (NEO) is increasingly being talked about as one of Asia’s most ambitious blockchain projects. Often dubbed “China’s Ethereum”, Neo delivers a smart contract ecosystem that is fast, efficient, and easy to use.

Not only that, Neo also supports decentralized application (DApp) development, data storage, and blockchain-based digital identity. With the ability to process up to 10,000 transactions per second, Neo is one of the crypto platforms worth monitoring in the midst of intense competition in the industry.

What is Neo (NEO)?

Neo is an open-source, decentralized blockchain platform designed to build a digital economy ecosystem. Like Ethereum (ETH), Neo allows anyone to create smart contract-based applications and services-from decentralized exchanges to digital marketplaces.

The difference is that Neo has an advantage in speed and efficiency. Thanks to a consensus mechanism called delegated Byzantine Fault Tolerance (dBFT), Neo is able to process a large number of transactions without compromising security. Other features include decentralized file storage, an oracle system, and digital identity that complies with regulations such as KYC and AML.

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How Does Neo Work?

Neo combines the Proof of Stake (PoS) mechanism with the dBFT protocol, resulting in a fast and efficient transaction process. The network is run by selected nodes that agree on the validity of transactions, enabling speeds of up to 10,000 transactions per second.

The platform uses two main tokens: NEO and GAS. NEO is used for voting and network governance, while GAS is used to pay transaction fees and run smart contracts. NEO is indivisible, while GAS is divisible down to the smallest unit of 0.00000001. NEO owners also automatically get GAS as a reward.

What are the advantages of Neo over other blockchains?

One of Neo’s biggest attractions is its ease of use for developers. Through the NeoContracts feature, developers can create smart contracts using popular programming languages like Java, Python, and C#, without the need to learn a new language like Solidity (which is used on Ethereum).

In addition, Neo also supports connection with the real world through oracle features and digital identity systems. This feature opens up opportunities for DApp development with real functionality, ranging from payment systems, logistics, to decentralized financial services.

History of Neo and Who Founded It?

Neo was first introduced to the public in 2014 under the name Antshares (ANS). The two figures behind the project are Da HongFei and Erik Zhang, who are also known as blockchain pioneers in China. Through an ICO (Initial Coin Offering), they managed to raise more than 6,000 BTC, or about Rp1.02 trillion at the current exchange rate.

In 2017, Antshares officially changed its name to Neo. The name is derived from the Greek word for “new”, reflecting their vision of creating the digital economy of the future. A new version of the protocol, Neo 3.0, has been announced since 2018 and brings many major improvements in terms of performance and security.

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How many NEO Tokens are in circulation?

Neo has a total maximum supply of 100 million tokens that have been created since the genesis block. Of these, 50 million have been distributed to early investors, and the rest are locked in for gradual release – 15 million tokens per year.

This distribution model is designed to avoid inflation and maintain token scarcity, making NEO an asset that has potential as a long-term store of value. The market capitalization value of NEO itself depends on the current price multiplied by the number of tokens in circulation.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Kriptomat. What is NEO cryptocurrency and how does it work? Accessed May 19, 2025
• Featured Image: Securities.io