What is NEO Blockchain?
NEO is a blockchain. NEO is a type of blockchain ecosystem. This type of blockchain ecosystem is designed with the objective of building a smart economy. This type of blockchain ecosystem is designed to fully digitize assets and identities through the use of smart contracts. In fact, it is a smart contract in the blockchain system whose main objective is to facilitate the emerging smart economy. And these tasks will be done using decentralized applications.
Automating digital asset management through smart contracts with the ultimate goal of building a distributed, network-based, smart economy using these decentralized applications is the main goal of this type of blockchain ecosystem. In the theory behind a smart economy, digital assets and digital identities play a very important role in improving everyone's quality of life. NEO defines a smart economy. And such blockchain ecosystem uses smart contracts to manage digital assets and to keep them safe and secure. NEO has two native tokens. NEO is used to establish ownership and management roles on the blockchain, and NEO Gas is used to pay for transactions on the blockchain.
NEO was founded in 2014. The founders of this blockchain ecosystem are Da Hongfei and Erik Zhang. Although it was established in 2014, it was later rebranded. And it was later rebranded again around 2017 As we mentioned earlier, it is a blockchain-based platform that supports two native tokens, NEO and NEO Gas. NEO is a blockchain based project whose main objective is to digitize assets. Simply put it is a blockchain that is used to digitize identity and assets. It is designed in such a way that investors or customers visit better facilities and as it tracks and transfers the ownership of an asset it offers better benefits to customers by using smart contracts.
In simple words, the main goal of this blockchain is a smart economy. NEO is a blockchain that digitizes assets and identities while creating a smart economy, as well as the ability for different blockchains to communicate with each other to introduce interoperability. NEO is a cryptocurrency used to fuel the development of the NEO Smart Economy Blockchain.
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