What is Neo (NEO) crypto?

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What is Neo (NEO) crypto?

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 What is Neo (NEO) crypto?
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  • Neo is a blockchain-based distributed network aiming to build an ecosystem to bring together digitized payments, identities, and assets.
  • The project was launched in 2014 as ‘Antshares’ but rebranded itself three years later in 2017 to ‘Neo’.
  • The network has two tokens NEO and GAS. 

The Neo (NEO) coin is drawing attention as it released its February development report and declared three winners of its contest to earn tickets to the Paris Blockchain Week Summit (PBWS). 

The summit will be held from April 13 to 14, and Neo’s Director of Ecosystem Growth, Lilly Zhao, will be one of the speakers at the event.  

Neo is one of the sponsors of the summit, which will have more than 3,000 attendees, 70 sponsors, 250 speakers, and 100 media partners.

The monthly report of Neo shows its new listings, migration, video release, TV interviews, hackathons for community engagement, virtual events, AMA sessions, and other initiatives.

What Is Neo (NEO)?

Neo is a blockchain-based distributed network that aims to build an ecosystem with services like digital payments and identities and automate digital assets using smart contracts.

The Neo Blockchain was launched in 2014 and was initially known as Antshares. The project rebranded itself three years later in 2017 as Neo, its current name.

The network supports its cryptocurrency and enables the development of digital assets and smart contracts. The project is considered the Chinese version of the Ethereum network.

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Its co-founders are Da Hongfei and Erik Zhang. Both serve as the chairmen of the Neo Foundation, which aims to promote the adoption of blockchain technology.

They believe the blockchain technology-based applications to go mainstream sooner than later but have expressed concerns that consumers may not always have control over their data.

Ironically, the Chinese government has banned crypto mining in the country in 2021. 

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What is Neo (NEO) crypto?Data Source: coinmarketcap.com

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Neo token details:

The Neo Network has two tokens NEO and GAS. NEO is the governance token to manage the Neo blockchain, and GAS is the utility token, which gives the right to use the chain.

Neo (NEO) was up 1.00% to US$27.64 at 12:04 pm ET on Friday. Its current market capitalization is US$1.95 billion. Its trading volume rose 6.76% in 24 hours to US$306 million.

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The coin has a circulating supply of 70.54 million, while the total supply stands at 100 million NEOs. The coin can be traded on CoinTiger, Binance, OKX, DigiFinex, and KuCoin.

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Bottom line:

In its February report, NEO said a China-focused ecosystem could be created using its technology on the Blockchain-based Service Network (BSN), a cross-cloud, cross-framework global infrastructure. Besides, NEO’s technology could be regulator friendly with a centralized approach, unlike most other cryptocurrencies.

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