when viewed in relation to other blockchain platforms
- General description
- Regulatory compliant smart economy platform: digitized physical assets, digital identity, smart contracts. For now focuses on China.
- Important differentiating features
- Digital Identity with Know Your Customer functionality which is very important for businesses and compliance.
- Ability to roll back the chain with consensus, avoiding situations like the DAO.
- Businesses can have private blockchains connected to NEO blockchain.
- Turing-complete? ?
- Achievable functionality ?
- Turing-complete smart contracts allow for any functionality
- Smart Contract languages or API
NEO will support almost all programming languages via a compiler.
- Major weaknesses or concerns
- Has centralization of control: the foundation selects the nodes. This makes it not censorship-resistant.
- Its success depends on legislation in China.
- Transactions per second capacity
- Practical: 1000 tps, Theoretical: 10 000 tps
- Transaction confirmation time ?
- ~15 sec, no confirmations required
- Deterministic transaction finality ?
- Yes; the chain can't fork
- Consensus mechanism and security ?
Delegated Byzantine Fault Tolerance:
Representative nodes are elected by token holders to validate the chain. The mechanism offers quick verification of the transactions, zero risks about the leaking of the transactions, elimination of forks and lessens the risk of any illegal actions. Also energy use is minimal. 2/3 of votes is required to approve current copy of a blockchain.
- Economy ?
- Users are rewarded with GAS proportional to their NEO holding, when registration and changing of assets occurs. Rate is around 0.1 GAS per 1 NEO per year. Consensus Nodes will be rewarded with transaction fees.
- Main currency ?
NEO has two currencies: NEO and GAS. NEO gives holders voting rights. GAS is the active currency on the blockchain which will be used to pay transaction fees.
NEO isn't divisible: minimum transfer value is 1.
GAS is divisible.
- Digital assets ?
- Yes. Among other, digitized physical assets.
- Cost of basic transaction ?
- 0 for now, will be minimal in the future
- Costs of various actions
- Cost of deploying smart contracts: High. It's optimized before being deployed, so that it costs more for deploying and less for users interacting with it.
- Mainnet launch status
- Mainnet live since October 2016
- Project history highlights
Project initiated in 2014.
Originally known as Antshares.
- Is blockchain public or private?
- Which actions are permissionless?
- Currently only the foundation can decide which nodes are allowed to process transactions.
- Cross-chain interoperability ?
- NeoX is a protocol that implements cross-chain interoperability. NeoX is divided into two parts: "cross-chain assets exchange protocol" and "cross-chain distributed transaction protocol."
- Use of multiple blockchains within one system
- Decentralized Network Architecture: Businesses can have private blockchains created for them by OnChain. These private blockchains are linked to the NEO blockchain to join the decentralised economy.
- Privacy ?
- Privacy option for business through Ontology.
- Governance ?
Onchain: NEO token holders will be able to manage the network through voting in the network.
Offchain: NEO Council consists of the founding members of the NEO project, under which the management committee, technical committee and the secretariat, respectively, are responsible for strategic decision-making, technical decision-making and specific implementation. The NEO Council is responsible to the NEO community for the promotion and development of NEO ecosystem as its primary objective.
- Misc facts
- Quantum resistant
- Adoption facts, partnerships
Collaboration with China government
Less important partnerships:
- Price per unit
- Circulating/ Total/ Max Supply
- 70538831/ 100000000/ 100000000