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NEO (cryptocurrency)

NEO (cryptocurrency)

Neo formerly known as Antshares, is an open source blockchain.

NEO is a blockchain-based platform that aims to create a smart economy by combining digital assets, digital identity and smart contracts. It features digital certificates, P2P exchange, support for multiple types of digital assets, support for multiple programming language for developing smart contracts, virtual machine, use of Byzantine Fault Tolerance Algorithm for consensus, Lattice cryptography-based signing and cross-chain asset swap protocol.

NEO plans to update its platform to version 3.0, known as #3 as early as 2021. As a project started in June 2018, the N3 update represents the biggest achievement in Neo's history. This update is designed to bring the first universal experience in blockchain development and implementation to the platform. It should be equipped with new powerful functionality. These features include distributed storage, oracles, and name services. Neo N3 also boasts a simpler and more modular architecture than its predecessors, as well as an improved control model and economy.

How Is the Neo Network Secured?

As we mentioned earlier, Neo uses Delegated Byzantine Fault Tolerance, and it’s estimated that the blockchain is capable of processing thousands of transactions per second.

According to Neo, the dBFT mechanism has been inspired by the Practical Byzantine Fault Tolerance algorithm.

There are a couple of similarities with delegated proof-of-stake, given how both consensus mechanisms allow token holders to vote for the delegates who will process transactions.

Through dBFT, blocks are added to a blockchain as long as at least two-thirds of delegates reach consensus — and it’s hoped that this helps prevent bad actors from undermining the smooth running of the network.

Timeline

May 2019
NEO raises a $100,000,000 series A round.
February 1, 2014
NEO was founded by Da Hongfei, Erik Zhang and Igor Machado Coelho.

Funding Rounds

Products

Patents

Further Resources

Title
Author
Link
Type
Date

Consensus

NEO Team

Web

How to Buy and Sell NEO Coin? In 2 minutes?

Web

January 5, 2021

Lili Zhao - NEO Coin, Neo Blockchain - Expands on Metaverse | INTERVIEW

Web

February 18, 2022

NEO Coin 2021 & NEO 3.0 Explained with Layah Heilpern

Web

May 5, 2021

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News

Title
Author
Date
Publisher
Description
Josh Scott
September 20, 2021
BetaKit
Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe.
Stefanie Marotta
September 15, 2021
financialpost
As the fintech startup scales and plots to grab more market share in the financial services sector, it's starting to build out its suite of lending products
Charles Mandel
August 18, 2021
BetaKit
With its acquisition of a new office space in Winnipeg's Exchange District, the co-founders of FinTech startup Neo Financial have come full circle.
Julian Almeida
August 11, 2021
The Hindu
Fourteen years after the 2007 The World Ends With You game blew our minds, 2021 sequel Neo: The World Ends With You offers not only a new plotline but also the next generation of heroes
Omar Faridi
July 28, 2021
Crowdfund Insider
NEO blockchain or DLT developers announce new codebase modifications, and Frontier Launchpad results revealed.
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References

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