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These tokens are used to add blocks to the chain and manage the overall network. NEO represents ownership of the Neo blockchain.Although they share some similarities, such as both having a maximum supply of 100 million, they serve completely different purposes: These are NEO (the token that we’re discussing in this article) and GAS. One of the most important things to remember about Neo is that it uses two different native tokens. Interestingly, Zhang is the inventor of the ‘Delegated Byzantine Fault Tolerance’ consensus mechanism, making NEO the first crypto to use this algorithm. It was founded by Da Hongfei and Erik Zhang, both of which are chairpersons of the Neo Foundation. Neo (NEO) might not be one of the biggest names in the business, but this crypto has the accolade of being China’s first open-source blockchain - and is often referred to as ‘the Chinese Ethereum’.Īs mentioned above, NEO was initially founded as ‘Antshares’. Can process up to 10,000 transactions per second.Uses a Delegated Byzantine Fault Tolerance consensus mechanism as opposed to proof-of-work or proof-of-stake.

More easily programmed than other smart contract platforms, with plans to introduce up to 10 languages.

Faster than Ethereum with transaction speeds comparable to Visa.

Aims to create a ‘smart economy’, which combines digital assets, digital identities, and smart contracts.

NEO coin is used to add new blocks to its blockchain and manage the network as a whole. The Neo platform aims to offer smart contracts and decentralised payment systems, making it possible for people to carry out everyday transactions on the blockchain. This means that each token represents a single share in the company, and as shares can’t be split into smaller parts, nor can NEO. It does this by providing a decentralised platform for people to carry out non-digital payments. Rather like a stablecoin, Neo aims to bridge the gap between crypto and fiat currency. It wasn’t until 2017 that it took on the name Neo, which means ‘new’ or ‘young’ in Greek. When Neo first came to the market in 2014, it was originally launched under the name of ‘ Antshares ’.

If you want to buy Neo quickly and easily, check out the eToro! NEO - A Faster & Stronger Version Of Ethereum? Read on to find out how Neo can reach these new highs. Neo will then rise to $286.55 in 2027, and $835.46 in 2030.Ĭould Neo’s prospects really be so good? We think so. How much could Neo be worth? Our Neo price prediction forecast has pinpointed the following highs:Īccording to our long-term Neo price prediction, the price of Neo will reach $38.20 by the end of 2022, rising to $91.77 by the end of 2023 and $169.42 by the end of 2025.