Neo (NEO) is a blockchain-powered digital currency and a platform for creating a global network of decentralized applications. The blockchain is powered by NEO coins, which themselves generate GAS tokens slowly over time. GAS is used as a transactional currency within the network, and the amount owned by a user depends on the amount of NEO they hold.

Neo originally launched in 2014, under the name AntShares, which initially failed to gain popularity. The company was rebranded to NEO in 2017 by Da Hongfei, owner of development company Onchain. Onchain acts as parent company to Neo, and Ontology (ONT) tokens are used to vote on community issues within the Neo network.
The Neo project has the backing of the Chinese government and many consider it the Chinese Ethereum. Like Ethereum, the Neo platform allows users to launch their own tokens, and provides smart contract capabilities and templates for launching ICO’s. Neo is future-proofed for scalability and aims to handle up to 10,000 transactions per second.

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