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What is Neo?
Neo (NEO) is a public blockchain platform designed for smart contracts and decentralized applications (dApps). It aims to bridge the gap between traditional financial systems and the blockchain world, offering features like digital identity and asset management.
Key Features of Neo
- Smart Contracts: Neo allows developers to build and deploy smart contracts on its blockchain, enabling the creation of dApps for various purposes.
- Byzantine Fault Tolerance (BFT): Neo utilizes a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, known for its fast transaction speeds and scalability.
- Digital Identity and Assets: Neo facilitates the creation and management of digital identities and assets on the blockchain.
Uses of NEO Token
- Network Gas: NEO is used to pay for transaction fees and gas costs associated with running smart contracts on the Neo blockchain.
- Voting Rights: NEO holders participate in on-chain governance by voting on proposals that shape the future of the Neo platform.
- Passive Income (Potential): While not fully confirmed yet, some sources suggest NEO holders might receive passive income through network fees in the future.