NEO: Blockchain Token – What is it?

2 min read

Episode 10 of Blockchain Token covers the NEO project! In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now. We’ll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more.

NEO’s platform is for a distributed, smart economy network. NEO is China’s first open source blockchain platform. It began as Antshares in 2014, and became open source in June 2015 when code was published on GitHub.

Their White Paper was released September 2015. It was not until July 2017 that Antshares was re-branded to NEO. Learn more about this “smart economy” project by watching our video or reading more about it below!

NEO integrates the use of digital assets (protected by digital certificates), digital identity, and smart contracts to create a ‘smart economy’ which will help progress new ways of commerce.

Their site states their ultimate goal as the “Internet of Order.” NEO is very similar to Ethereum, using turing-complete smart contracts and running a virtual machine (NeoVM). NEO has also integrated inter-operability into their protocols for across multiple chains, which allows smart contracts and assets to be used or exchanged on multiple chains.

NEO is both a blockchain network and cryptocurrency, functioning as a smart economy network. Since they primarily are focused in China, it’s arguable that Ethereum is their competition.

To find resources on NEO and learn more, head over to our NEO Resource Page!

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