Neo (NEO)
Neo (NEO) in Summary
Initially known as Antshares, this project was believed to be China’s first-ever public blockchain when it was launched in February 2014. The open-source platform subsequently rebranded to Neo three years later.
The co-founders of Neo, and its predecessor Antshares, are Da Hongfei and Erik Zhang. Both serve as chairmen of the Neo Foundation, which aims to promote the blockchain’s adoption.
Unlike many other blockchains, this network also has two native tokens: NEO and GAS. While NEO serves as an investment token and allows people to participate in votes concerning improvements to the blockchain, GAS is used to pay fees for the transactions that are being completed on the network.
Neo runs a development fund to support its blockchain. EcoBoost launched back in 2019, and it was billed as an initiative that provides “full life-cycle support for high-potential projects” — including grants, technical support and promotion on social media.