NEO Cryptocurrency from China
Neo platform is a bit different from other platforms as it has two cryptocurrencies – Neo coin and Gas token. The project began its life as AntShares – the first blockchain platform in China. It was rebranded into Neo in 2017. Based in Shanghai, Neo is a smart contract platform that is similar in a way to Ethereum.
NEO Platform Consensus Algorithm
The developers of NEO platform decided not to replicate one of the most popular today consensus algorithms - PoW (as in Bitcoin and most of its forks) or PoS (Lisk, Qtum, etc.) Instead, they created and employed the so-called Delegated Byzantine Fault Tolerance (dBFT) algorithm. The algorithm works in a way that 66% or more of Bookkeeper Nodes (i.e., delegates) have to agree to verify a block on the chain.
Neo coin and Gas token
Neo coin’s ticker symbol is NEO; its maximum supply is 100 million coins which are not divisible. Its developers claim that this cryptocurrency is already capable of producing more than 1000 transactions per second and the plans are to speed it up ten times eventually. The token’s symbol is GAS. It is unlike its Big Brother dividable but has the same maximum supply quantity. NEO holders get the voting rights within the system and dividends in the form of GAS. GAS is also employed as the means of payment and running smart contracts.