What Is NEO/GAS? NEO takes blockchain to the next level, competing with Ethereum for supremacy.

What Is NEO/GAS?

NEO isĀ  a Chinese smart contract platform that uses two cryptocurrency coins for utility and tokenized transactions. Like Ethereum, the NEO platform hosts other blockchains in the form of decentralized applications (dApps). It also implements a Delegated Byzantine Fault Tolerance (DBFT) protocol to fix Ethereum issues. ERC Ethereum standards are replaced by NEP token standards.

Who Is NEO?

NEO was originally called Antshares and was created by Onchain, a blockchain company that also created Ontology and more. It’s now managed by the NEO Foundation, created by Co-founders Da Hongfei and Erik Zhan created the project in 2014 and rebranded it as NEO in June 2017.

Use Cases of NEO

NEO can host other blockchain projects or it can connect to both legacy and blockchain platforms. Smart contracts can be used to create any type of decentralized or distributed application. This blockchain project is a next-gen platform that will be used, whether it’s the top network or not.

How to Mine NEO/GAS

NEO can not be mined, and it’s not divisible. When held, GAS is earned through Proof-of-Stake (PoS). In addition, other tokens for projects built on NEO will airdrop to hodlers.

NEO/GAS Investors and Partners

The NEO Foundation helped launch and incubate a ton of project through Neo Global Capital (NGC) and the NEO Eco Fund/NEO Global Development (NGD). Projects these funds created include Ontology, StarkWare, Oasis Labs, and Chromaway.

Learn More About NEO/GAS

If you want to learn more about NEO/GAS, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.

Versability

Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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