Neo Price

What is Neo?

NEO is one of the two native tokens of the NEO blockchain, which many consider as the Chinese competitor to the Ethereum smart contract platform.

After the release of its whitepaper, the NEO token was first released through an ICO in 2016, where 100 million coins were sold to the public, raising 6119 BTC in the process. The network was initially launched under the name Antshares in 2014, to be finally rebranded to NEO in 2017.

During the ICO, 50% of the NEO tokens were sold to the participants, while the remaining 50% were distributed among the team, formally referred to as the NEO Council.

The NEO team refers to its project as “Smart Economy” as it combines three essential elements:

• Digital Assets - similar to ERC-20 protocols on Ethereum, users can use the NEO blockchain to create a digital representation of real-world assets.

• Digital Identity - NEO focuses to be regulatory-compliant. For this reason, every participant on the NEO network - individuals, businesses, or other entities, are given a unique digital identity that can be easily verified.

• Smart Contracts - smart contracts allow all transactions to be carried out automatically in a decentralized fashion, in addition to deploying dApps on the NEO blockchain.

How Neo works

The NEO blockchain is based on a modified Proof-of-Stake (PoS) consensus mechanism called a decentralized Byzantine fault-tolerant (dBFT) system. As such, all of the NEO tokens were premined prior to launch and no new coins can be created.

The NEO blockchain supports two native coins on its network: NEO and GAS.

• NEO is an indivisible token that can be exchanged for other coins on crypto exchanges or sold for profits. Its main purpose is to generate GAS tokens by simply holding them into a wallet. The only way to obtain NEO coins is by purchasing them on a cryptocurrency exchange such as Paybis.

• GAS tokens are used to pay the transaction fees and to run decentralized applications on the NEO network. Owning NEO is the only way of generating new GAS tokens. The half-life algorithm behind the GAS tokens will release a total of 100 million GAS over the duration of 22 years.

One key advantage of the NEO blockchain is that it’s compatible with almost any programming language available. This makes the NEO network particularly interesting for developers, which can have an influence over its growth.

Finally, the NEO network can handle approximately 10.000 transactions per second, which currently makes it one of the fastest smart contract platforms on the market.

Who invented Neo?

Chinese entrepreneurs and programmers Da Hongfei and Erik Zhang are credited for the creation of the NEO coin.

Da Hongfei is a blockchain pioneer who got interested in Bitcoin as early as 2011. He was able to figure out the potential of the technology early on, learned to code, and decided to spread his knowledge to his peers.

During the past decade, Hongfei has been responsible for increasing awareness of blockchain technology in his country. He equally acts as a consultant on Blockchain subjects to the Chinese government.

Erik Zhang is the core developer of NEO and is responsible for the invention of the Byzantine fault-tolerant (dBFT) consensus mechanism. Zhang is a trained computer specialist from Shanghai university.

At the beginning of his career, he developed online games for Shanda Games Limited, where he encountered cryptocurrencies as a novel and promising method of payment.

Neo price today

The price of NEO, much like that of other cryptocurrencies, can fluctuate drastically in short amounts of time. For this reason, it’s imperative to always have access to the best NEO chart on the market.

On this page, Paybis offers you the option to visualize the current NEO price on an easy-to-read NEO price chart.

You can customize how the NEO price live is displayed by using one of the options from the drop-down menus up top:

• Pick between different exchanges that list the coin.

• View the NEO price USD or switch to another FIAT currency.

• Compare the NEO price today with historical price action on different timeframes.

In addition, you can access other important metrics including the traded volume and maximum circulating supply of the NEO coin.