What is NEO?
NEO is an open-source cryptocurrency project that uses blockchain technology and smart contracts to automate the management of digital assets. Thanks to this, a so-called "smart economy" can be created.
The concept embodies the operations of smart contracts, digital identity and digital assets in blockchain. The goal is to create a transparent and decentralized database that allows companies to manage their operations by taking advantage of new technological aspects.
Claim NEO Gas and NEO mining
Crypto-platform NEO has two digital coins. The first is the primary one - the cryptocurrency of the same name NEO. The other is secondary in nature and is called NeoGas. It is designed to conduct transactions on this crypto platform and manage smart contracts. The NEO token was issued in an amount of 100 million, with a minimum value of 1 NEO. During the ICO process, 50 million were distributed, and another 50 were frozen until the fall of 2017. NeoGas issuance was also limited to 100 million. The minimum amount of GAS that can be transferred is 0.00000001.
Claim NEO GasHow does NEO cryptocurrency work?
The development of NEO has led to several blockchain advances. To make these advances happen, cryptocurrency developers created the Thin Byzantine Fault Tolerance (dBTF) consensus protocol to ensure scalability .
Thus, this algorithm allows multiple validators to be selected according to the voting system. The goal is to select the nodes that will generate the block and validate the transactions. It is a system that allows the generation of blocks much faster, with low energy consumption and guarantees the security of the network.
