What is Neo
Neo is somewhat of a nod to the good old Matrix movie. This system set its own processing speed records and launched the new N3 blockchain. This non-commercial project was born in China only in 2021 and has already secured the title of \"Chinese version of Ethereum.\" It is pretty logical as Neo has the same goal of developing an innovative digital economy based on smart contracts, De-Fi tools, and decentralised applications. NEO also makes it possible to manage various types of assets based on smart contracts, as well as digitise information.
Two figures created this distributed network: an authoritative Chinese crypto-expert, founder of the Bitcoin community in China, Da Hongfei, and developer Eric Zhang. Apart from this, Da Hongfei is also the founder of the blockchain development company Onchain.
Since 2021, decentralised Neo has been operating on two data chains, Legacy and N3. The ecosystem is run by altcoin holders. They decide which of the members of the Council will continue to maintain the functioning of the system. To do this, they cast their votes for candidates, paying for their opinion with the available digital currency.
Another coin is connected to the same platform, which is called GAS. If NEO is used as a \"voting\" coin, GAS is primarily needed to pay for transactions and other platform functions. In addition, rewards for specific actions are provided for its owners.
In general, the leading Neo coin is in the TOP-100 altcoins, according to CoinMarketCap.