If you didn’t know, NEO was initially called Antshares. But what is it? NEO, in simple language, is an open-source blockchain ecosystem born in 2014. The masterminds and parents of NEO are Da HongFei and Erik Zhang. Since its rebrand from Antshares back in 2017, its mission has been to release a “smart economy” by making use of smart contracts and blockchain technology to give out and manage any asset that is digitized. The NEO network drives on a proof of stake decentralized Byzantine fault-tolerant (dBFT) consent technique between several centrally approved nodes and can support up to 10,000 transactions per second. The native utility token of the NEO blockchain is the NEO utility token which is non-divisible and it also generates Gas tokens as well. The Gas tokens, also considered as separate assets on the NEO blockchain, can be used to pay for the transaction charges.
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