The current price of Neo (NEO) is $5.69, with a 24-hour trading volume of $28.61 million. Over the past day, NEO has seen no significant change, registering a 0.00% movement. The circulating supply stands at 70.54 million NEO tokens, out of a maximum total supply of 100 million.
What Is Neo?
Neo is a leading blockchain platform designed to enable a scalable, secure, and developer-friendly ecosystem for digital assets and smart contracts. The native cryptocurrency, NEO, powers the network’s governance and staking mechanism, while its secondary token, GAS, serves as the utility fuel for transactions and smart contract execution.
Originally launched in 2014 as Antshares, Neo rebranded in 2017 and is often referred to as the "Ethereum of China" due to its early focus on smart contract functionality and enterprise adoption within the Chinese market. Unlike many blockchain platforms that require developers to learn specialized programming languages, Neo supports multiple mainstream languages such as C#, Java, and Python through its Neo Virtual Machine (NeoVM), making it more accessible to traditional software engineers.
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Neo aims to build a "smart economy" by integrating three core components:
- Digital Identity: Verified identities on the blockchain for individuals, organizations, and assets.
- Digital Assets: Tokenized representations of real-world or virtual assets.
- Smart Contracts: Self-executing agreements that automate processes without intermediaries.
To ensure high throughput and low latency, Neo uses a Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism. This allows the network to process up to 10,000 transactions per second (TPS)—significantly faster than Ethereum’s base layer—making it suitable for enterprise-grade applications.
A Brief History of Neo
Neo began its journey in 2014 under the name Antshares, founded by Da Hongfei and Erik Zhang. The project aimed to create a blockchain platform that could support complex financial systems through programmable contracts and digital asset issuance.
In its genesis block, 100 million NEO tokens were minted, all pre-mined at launch. The project raised funds through two ICO phases:
- October 2015: Raised 2,100 BTC
- September 2016: Raised an additional 6,119 BTC
This early success enabled Antshares to form strategic partnerships, including a notable collaboration with Microsoft Azure to explore blockchain-as-a-service (BaaS) solutions. The mainnet officially launched in October 2016, laying the foundation for future upgrades.
In June 2017, Antshares rebranded to Neo, signaling a broader vision beyond financial services toward a fully decentralized smart economy. The launch of Neo 2.0 introduced a complete smart contract system and enhanced developer tools.
Then, in July 2018, Erik Zhang announced Neo 3.0, a major upgrade focused on improving decentralization, security, and economic sustainability. After more than three years of development, Neo 3.0 went live in August 2021, featuring:
- Native decentralized storage
- On-chain oracle support
- Refined token economics
- Improved governance model
Today, Neo continues to evolve with strong backing from institutional investors such as Shibumi Crypto Capital, Myriad Capital Management, Midgard Ventures, and Digichain Capital.
How Does Neo Work?
At the heart of Neo’s architecture is its unique combination of scalability, multi-language support, and efficient consensus.
NeoContracts: Smart Contracts Without Barriers
Neo introduces NeoContracts, a smart contract framework that allows developers to write decentralized applications (dApps) using widely adopted programming languages like C#, Java, Python, and Kotlin. This eliminates the steep learning curve associated with domain-specific languages (e.g., Solidity on Ethereum), lowering entry barriers for enterprise developers.
These contracts run securely within the Neo Virtual Machine (NeoVM), which ensures isolation, determinism, and fast execution—critical for maintaining network stability.
Consensus via Delegated Byzantine Fault Tolerance (dBFT)
Unlike proof-of-work or proof-of-stake models, Neo uses dBFT, a consensus algorithm designed for high performance and fault tolerance. In this system:
- NEO holders can vote for consensus nodes responsible for validating transactions and producing blocks.
- Each vote corresponds to the amount of NEO staked.
- Consensus nodes receive transaction fees (paid in GAS) as rewards.
This model enables real-time finality—once a block is confirmed, it cannot be reversed—making Neo ideal for applications requiring instant settlement.
Additionally, dBFT supports Byzantine fault tolerance, meaning the network remains functional even if some nodes behave maliciously or fail.
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Use Cases of Neo
Neo is engineered for broad adoption across industries seeking to digitize assets, streamline operations, and enhance transparency.
1. Enterprise Blockchain Solutions
With its compatibility with enterprise development stacks and integration with Microsoft Azure, Neo is well-positioned for business applications in supply chain management, identity verification, and financial services.
2. Decentralized Applications (dApps)
Developers leverage Neo to build dApps ranging from decentralized exchanges (DEXs) to gaming platforms and NFT marketplaces—all powered by NeoContracts.
3. Digital Identity & Compliance
Neo’s digital identity framework supports KYC/AML compliance by allowing users to verify credentials on-chain without exposing sensitive data. This makes it attractive for regulated institutions exploring blockchain solutions.
4. Governance & Staking
Holding NEO grants users voting rights in network governance. Token holders participate in decisions about protocol upgrades, node selection, and economic policies—ensuring community-driven evolution.
Staking NEO does not directly earn rewards; instead, it generates GAS, which accumulates over time and can be used or traded. GAS is essential for paying transaction fees and executing smart contracts.
Frequently Asked Questions (FAQ)
Q: What is the difference between NEO and GAS?
A: NEO is the governance token of the Neo network—used for voting and staking. GAS is the utility token that powers transactions and smart contract execution. Holding NEO generates GAS over time.
Q: Can I stake NEO to earn rewards?
A: Yes. By holding NEO in a supported wallet (like Neon Wallet or N3 Station), you automatically earn GAS as a reward for supporting network operations.
Q: Is Neo fully decentralized?
A: While Neo has made strides toward decentralization—especially with Neo 3.0—the network still maintains some centralized elements in node operation. However, governance is increasingly community-driven through voting mechanisms.
Q: How fast are transactions on Neo?
A: Thanks to dBFT consensus, Neo can handle up to 10,000 TPS with finality in under one second—making it one of the fastest public blockchains available.
Q: Where can I buy NEO?
A: NEO is listed on major cryptocurrency exchanges globally. Always ensure you're using secure platforms with strong reputations for safety and liquidity.
Q: What makes Neo different from Ethereum?
A: Neo stands out with multi-language smart contract support, higher transaction speeds, lower fees, and built-in digital identity features—making it appealing for both developers and enterprises.
Final Thoughts
Neo represents a compelling alternative in the evolving blockchain landscape. With its focus on usability, speed, and real-world integration, it continues to attract developers and institutions alike. As the push for digital transformation grows across sectors, Neo’s vision of a "smart economy" becomes increasingly relevant.
Whether you're an investor monitoring the Neo price, a developer building dApps, or an enterprise exploring blockchain adoption, understanding Neo’s technology and roadmap is essential.
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