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Neo, often referred to as the Chinese Ethereum, is a blockchain platform that supports its own cryptocurrency and enables the development of digital assets and smart contracts. Launched in 2014 as AntShares and rebranded to Neo in 2017, it aims to create a smart economy by leveraging blockchain technology and digital identity. Neo utilises a unique consensus mechanism known as dBFT (delegated Byzantine Fault Tolerance) and supports common programming languages, which lowers barriers to entry for developers. With a dual-token model, NEO represents governance rights, while GAS is required to perform transactions and smart contracts on the network. Its emphasis on regulatory compliance and digital identity makes it distinct in the cryptocurrency space.
