At US$3.4 billion, NEO (NEO), is now the sixth largest among cryptocurrencies and assets. Formerly know as Antshares, and dubbed by many as the “Ethereum of China,” NEO has risen sharply since its ICO, rebrand, and heavy marketing effort in late 2016.
NEO Price Analysis 4th Oct 2017 1NEO was founded by Da Hongfei and Erik Zhang. Unlike any other cryptocurrencies or assets, NEO uses neither Proof of Work (PoW) or Proof of Stake, but a consensus mechanism known as delegated Byzantine Fault Tolerant (dBFT).
This mechanism separates nodes into two categories. Bookkeeping nodes, which are delegated by the network and earn a deflationary cryptocurrency called GAS through the block reward. Other nodes are simply users of the network. Users can earn GAS by holding NEO in a wallet, a process similar to staking.
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