Neo, originally called Antshares, was co-founded by Da Hongfei and Erik Zhang. It uses the delegated Byzantine fault tolerance (dBFT) consensus, which adds blocks once two-thirds of delegates reach consensus, improving security and preventing malicious attacks.
The NEO token (circulating supply: 70.5 million, total: 100 million) was pre-mined and distributed half to token sale participants and half to the developers and NEO Council. GAS tokens are generated with each new block and will gradually reach 100 million over 22 years.
Neo aims to be the foundation of a next-generation internet, integrating digital payments, identity, and assets. Its EcoBoost program encourages developers to create DApps and smart contracts, earning Neo the nickname “Ethereum of China.”