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==Architecture==
==Architecture==
===Distribution===
A total of 100 million NEO was issued and represents the ownership of the chain. 100 million was created in the Genesis Block and distributed according to distribution mechanism as described in its white paper. The total amount of NEO shares is fixed at 100 million and can not be increased. The smallest unit of the NEO is 1 NEO and cannot be divided.
A total of 100 million NEO was issued and represents the ownership of the chain. 100 million NEO was created in the Genesis Block with 50 million NEO sold to early investors with an additional 50 million NEO locked into a smart contract. Each year 15 million NEO tokens are unlocked which can be used by the NEO development team to fund long term development goals until all 100 million are released. Each NEO token generates slowly deflationary amount of GAS tokens until 100 million GAS tokens are released. Inflation rate of GAS is controlled with a decaying half life algorithm that will release 100 million GAS over approximately 22 years.<ref name="computable">{{cite web
|url=https://www.computable.nl/artikel/achtergrond/technologie/6306817/5182002/werking-dbft-via-neo-in-kaart-gebracht.html
|title= Operation of dBft mapped via Neo
|first= Krijn
|last= Soeteman
|publisher= Computable
|date= 10 February 2018
|accessdate= 23 March 2018
}}</ref>


===Consensus===
NEO uses a delegated [[Byzantine Fault Tolerance]] (dBFT) consensus mechanism and can support up to 10,000 transactions per second.<ref>{{cite web|title=The new age of ICOs is here, and it’s not based on Ethereum|url=https://techcrunch.com/2017/10/03/the-new-age-of-icos-is-here-and-its-not-based-on-ethereum/|website=[[TechCrunch]]|accessdate=13 January 2018}}</ref><ref>{{cite web|title=Bitcoin and Cryptocurrency: What You Need to Know|url=https://www.rollingstone.com/culture/features/bitcoin-and-cryptocurrency-what-you-need-to-know-w514552|website=[[Rolling Stone]]|accessdate=27 December 2017}}</ref> <ref>{{cite web|title=NEO Cryptocurrency - Beginner's Guide|url=https://finasko.com/t/neo-cryptocurrency-a-beginners-guide/127}}</ref>
NEO uses a delegated [[Byzantine Fault Tolerance]] (dBFT) consensus mechanism and can support up to 10,000 transactions per second.<ref>{{cite web|title=The new age of ICOs is here, and it’s not based on Ethereum|url=https://techcrunch.com/2017/10/03/the-new-age-of-icos-is-here-and-its-not-based-on-ethereum/|website=[[TechCrunch]]|accessdate=13 January 2018}}</ref><ref>{{cite web|title=Bitcoin and Cryptocurrency: What You Need to Know|url=https://www.rollingstone.com/culture/features/bitcoin-and-cryptocurrency-what-you-need-to-know-w514552|website=[[Rolling Stone]]|accessdate=27 December 2017}}</ref> <ref>{{cite web|title=NEO Cryptocurrency - Beginner's Guide|url=https://finasko.com/t/neo-cryptocurrency-a-beginners-guide/127}}</ref>


===Compiler===
NEO will support almost all programming languages via a compiler, including those on [[Microsoft.net]], [[Java (programming language)|Java]], [[Kotlin (programming language)|Kotlin]], Go and [[Python (programming language)|Python]], greatly lowering the difficulty for developers to write smart contracts. <ref>{{Cite web|url=https://bitcoinmagazine.com/articles/antshares-rebrands-introduces-neo-and-new-smart-economy1/|title=Antshares Rebrands, Introduces NEO and the New Smart Economy|last=Fink|first=Bradley|website=Bitcoin Magazine|access-date=2018-02-16}}</ref>
NEO will support almost all programming languages via a compiler, including those on [[Microsoft.net]], [[Java (programming language)|Java]], [[Kotlin (programming language)|Kotlin]], Go and [[Python (programming language)|Python]], greatly lowering the difficulty for developers to write smart contracts. <ref>{{Cite web|url=https://bitcoinmagazine.com/articles/antshares-rebrands-introduces-neo-and-new-smart-economy1/|title=Antshares Rebrands, Introduces NEO and the New Smart Economy|last=Fink|first=Bradley|website=Bitcoin Magazine|access-date=2018-02-16}}</ref>


== Features ==
== Features ==
{{cleanup|reason=copy pasted material}}
{{cleanup|reason=copy pasted material}}
*[[X.509]] Digital Identities <ref name="computable"/>
* Delegated Byzantine Fault Tolerance (DBFT) algorithm – This is a consensus mechanism
* NeoX – This system will create the ability to execute and operate across various Blockchains
* NeoX – This system will create the ability to execute and operate across various Blockchains
* NEO Contract – Is the mechanism for creating smart contracts seamlessly in scalable, high performance environments that integrates pre-existing codebases (e.g. C#, VB.Net, F#, Java, Kotlin)
* NeoFS – This is a service which allows decentralized storage (like a peer to peer Dropbox)
* NeoFS – This is a service which allows decentralized storage (like a peer to peer Dropbox)
* NeoQ – A lattice-based cryptographic mechanism which creates problems that cannot be solved by quantum computers and ensuring being quantum-proof <ref>{{Cite news|url=https://coincentral.com/what-is-neo-cryptocurrency/|title=What is NEO Cryptocurrency?|date=2017-11-02|work=CoinCentral|access-date=2018-02-14|language=en-US}}</ref>
* NeoQ – A lattice-based cryptographic mechanism which creates problems that cannot be solved by quantum computers and ensuring being quantum-proof <ref>{{Cite news|url=https://coincentral.com/what-is-neo-cryptocurrency/|title=What is NEO Cryptocurrency?|date=2017-11-02|work=CoinCentral|access-date=2018-02-14|language=en-US}}</ref>

Revision as of 20:13, 23 March 2018

NEO
Cardano logo
Logo of NEO
Denominations
CodeNEO, formerly ANS
Development
Initial releaseFebruary 2014; 10 years ago (2014-02)[1] as AntShares
Ledger
Block explorerneotracker.io
neoscan.io
Circulating supplyc. 65.0 million (as of 6 March 2018)[2]
Supply limit100 million
Website
Websiteneo.org

NEO is a blockchain platform and cryptocurrency designed to build a scalable network of decentralized applications. The base asset of the NEO blockchain is the non divisible NEO token which generates GAS tokens that can be used to pay for transaction fees generated by applications on the network.[3] NEO supports a wide variety of commonly used programming langauges such as Javascript and C++ by using a customized version of Docker called neoVM that compiles the code into a secure executable environment.[4]

History

The NEO project was originally launched in 2014 as AntShares with development resources provided founder Da Hongfei through his development company Onchain.[5][6] NEO rebranded from Antshares to NEO in June of 2017. [7][8]

Architecture

Distribution

A total of 100 million NEO was issued and represents the ownership of the chain. 100 million NEO was created in the Genesis Block with 50 million NEO sold to early investors with an additional 50 million NEO locked into a smart contract. Each year 15 million NEO tokens are unlocked which can be used by the NEO development team to fund long term development goals until all 100 million are released. Each NEO token generates slowly deflationary amount of GAS tokens until 100 million GAS tokens are released. Inflation rate of GAS is controlled with a decaying half life algorithm that will release 100 million GAS over approximately 22 years.[9]

Consensus

NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism and can support up to 10,000 transactions per second.[10][11] [12]

Compiler

NEO will support almost all programming languages via a compiler, including those on Microsoft.net, Java, Kotlin, Go and Python, greatly lowering the difficulty for developers to write smart contracts. [13]

Features

  • X.509 Digital Identities [9]
  • NeoX – This system will create the ability to execute and operate across various Blockchains
  • NeoFS – This is a service which allows decentralized storage (like a peer to peer Dropbox)
  • NeoQ – A lattice-based cryptographic mechanism which creates problems that cannot be solved by quantum computers and ensuring being quantum-proof [14]

References

  1. ^ "Who is NEO's Da Hong Fei? A Career Spotlight". CoinCentral.
  2. ^ "NEO (NEO) price, charts, market cap, and other metrics – CoinMarketCap". coinmarketcap.com.
  3. ^ "Titan Digital Asset Group Research, NEO: The Vanguard of a Digitized China". Strategic Coin. Retrieved 27 December 2017.
  4. ^ "Reconstructing Smart Contracts Part I". The Merkle. Retrieved 23 March 2018.
  5. ^ "China's Largest Cryptocurrency Thrives Despite Intense Crackdown". Bloomberg Technology. Retrieved 13 January 2018.
  6. ^ "Why You Should Keep Qtum on Your Radar in 2018". CryptoSlate. Retrieved 27 December 2017.
  7. ^ "NEO versus Ethereum: Why NEO might be 2018's strongest cryptocurrency". Hacker Noon. 2017-12-06. Retrieved 2018-02-24.
  8. ^ Kuznetsov, Nikolai (10 August 2017). "NEO Co-Founder Banks On Blockchain To Build A Smart Economy". Forbes. Retrieved 23 March 2018.
  9. ^ a b Soeteman, Krijn (10 February 2018). "Operation of dBft mapped via Neo". Computable. Retrieved 23 March 2018.
  10. ^ "The new age of ICOs is here, and it's not based on Ethereum". TechCrunch. Retrieved 13 January 2018.
  11. ^ "Bitcoin and Cryptocurrency: What You Need to Know". Rolling Stone. Retrieved 27 December 2017.
  12. ^ "NEO Cryptocurrency - Beginner's Guide".
  13. ^ Fink, Bradley. "Antshares Rebrands, Introduces NEO and the New Smart Economy". Bitcoin Magazine. Retrieved 2018-02-16.
  14. ^ "What is NEO Cryptocurrency?". CoinCentral. 2017-11-02. Retrieved 2018-02-14.
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