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Proof of Stake (PoS), Smart Contract Platform

About NEO

NEO is an open-source blockchain platform and cryptocurrency project that was launched in 2014.

It is often referred to as the “Chinese Ethereum” due to its similarities with Ethereum, but NEO has some unique features that set it apart. NEO is designed to be a distributed network for the “smart economy”, which is a term used to describe the combination of digital assets, digital identities, and smart contracts. NEO’s goal is to create a blockchain-based platform that can be used for various applications such as digital asset management, smart contracts, and decentralized applications (dApps).

NEO uses two different tokens: NEO and GAS. NEO tokens are used for voting on the network and creating blocks on the blockchain. GAS tokens are used to pay for transactions on the network.

The total supply of both tokens is fixed at 100 million each. The NEO platform also includes several features that make it more user-friendly than other blockchains. For example, it supports multiple programming languages such as C#, Java, and Go, which makes it easier for developers to create dApps on the platform.

Additionally, NEO has a consensus mechanism called dBFT (Delegated Byzantine Fault Tolerance) which allows transactions to be processed quickly and securely without requiring miners or staking rewards. Overall, NEO is an ambitious project that seeks to revolutionize the way we use blockchain technology by creating a platform that can be used for various applications in the “smart economy”. It has some unique features such as its support for multiple programming languages and its dBFT consensus mechanism which make it stand out from other blockchains.

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