NEO is a smart contract platform, similar to Ethereum, that was created by a team of developers in China and was formerly known as Antshares. It was designed to utilize “blockchain technology to digitize assets using smart contracts and common programming language”. The platform was created by Da Hongfei and Erik Zhang. It has the ability to process 10,000 transactions per second. It enables two types of tokens: NEO and GAS. NEO is not a currency or asset, but a proxy for voting rights within the blockchain governance system. GAS is an operational token to be used for transactions and smart contracts.
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