Da HongFei and Erik Zhang established Neo (previously Antshares) in 2014 as an accessible distributed blockchain federated digital platform. Till changing its name to Neo from Antshares in 2017, the project's goal has been to create a "wise industry" by using blockchain applications and innovative contractual to create and handle digital assets.
The Neo network is based on a distributed Byzantine fault-tolerant (BFT) consensus mechanism that connects an amount of regionally authorized endpoints and can handle up to 10,000 transactions per second. The non-divisible Neo coin, which creates GAS coins, is the foundation of the Neo Blockchain network.
These GAS tokens, a distinct commodity on the system, may be used to fund processing charges and are convertible down to the 0.00000001 unit. The pace of GAS expansion is regulated by a half-life declining mechanism that will produce 100 million GAS over 22 years, and the Genesis Block produced approximately 100 million Neo.
The first 50 million Neo was offered to initial traders in a 2016 ICO that generated $4.65 million, with the other 50 million Neo trapped under a shared ledger. Annually, 15 million Neo assets are released, which are utilized to support long-term development objectives by the Neo project group.
The resources builders use to build and grow cryptographic protocol programs on the Neo blockchain are at the heart of the Neo extracted operations. Programmers can use X.509 Digital Personalities to link tokens to true identities, which helps them abide by KYC/AML or other compliance standards.
Code name- Neo
Developer- Da HongFei, Erik Zhang
Launched- February 2014
Programming language- C#
Code repository- NEO GitHub
Official Site- neo.org
Erik Zhang initially released Neo 3.0 or N3 to update the present Neo network in 2018 (also called Neo legacy). N3 is a step forward from earlier versions, with more robust and efficient capabilities, a highly modified appearance, and improved performance.
Because some aspects of the N3 upgrade are not retroactively similar to the current Neo-traditional network, the N3 objectives will be achieved via a new genesis block.
History of NEO
Da Hongfei and Erik Zhang established Antshares in 2014, and it was free on GitHub the subsequent day, and the policy document was published in September 2015.