It is an open-source, decentralized blockchain-based platform that was founded as AntShares by Erik Zhan and Da Hongfei in 2014. Its vision is to support the development of smart contracts and digital assets by utilizing the blockchain technology. NEO (Cryptocurrency) goals to systematize the running of digital assets through the usage of smart contracts with an ultimate goal of constructing a distributed network-based smart economy system.
In 2018, the NEO council was reorganized into NEO foundation co-chaired by Erik Zhang and Hongfei. Later two operational units were founded by NEW Foundation, NEO Global Capital (NGC) and NEO Global Department. The NEO Global Development is dedicated to marketing, community operations, development and research. NEO Global Development first office was opened in Shanghai and second in Seattle.
Theoretically, NEO (Cryptocurrency) define its smart economy system as (Digital Asset + Digital Identity + Smart Contract = Smart Economy). Resources can be digitalized on the NEO blockchain in an open, trustworthy, decentralized, transparent and traceable manner that is free of their associated costs and intermediaries.
The users can buy, sell, record, exchange and circulate numerous kinds of assets. The NEO (Cryptocurrency) blockchain-based platform permits for connecting the corporeal assets with a unique and equivalent digital avatar on its network. It also supports the safety of investments. The assets recorded on its platform are protected by law and have validated digital identity. Digital uniqueness allows provable essential information about organizations, participating individuals and other objects that exist in a digital context.
Digitalized smart contracts enable the implementation of agreements and transactions among various participants without supremacy by any central mechanism or the legal system. The performance of transactions is created on the encoding code of the network. Coding allows transparency, irreversibility and traceability of transactions.
The NEO (Cryptocurrency) supports two coins, GAS and NEO. It supports encoding in all typical languages including Go, Java, C#, Kotlin and Python, which enable a fantastic community of creators to subsidize to its platform.