The Neo blockchain is a public blockchain platform designed to support the development and deployment of smart contracts and decentralized applications (dApps). Neo utilizes a digital identity system that enables users to securely manage their digital identities on the blockchain and allows developers to create and execute smart contracts and
The platform operates on the delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, providing high throughput and stability for the network. The Neo blockchain platform utilizes a dual-token system: NEO and GAS.
While NEO acts as the governance token, GAS serves as the “gas” for the Neo blockchain. It is designed to facilitate transactions and smart contract execution within the NEO ecosystem. GAS is generated through a process called NEO staking, where holders of NEO tokens are rewarded with GAS over time.
