How to Buy NEO
What is NEO
Rebranded from Antshares in 2017, Neo is a blockchain founded in 2014 by Erik Zhang and Da HongFei. Neo has a Proof of Stake consensus mechanism and a unique transaction fee system based on the GAS token. The network’s utility token, NEO, produces GAS tokens used to pay for transaction fees. GAS tokens are limited to 100 million and released at a reducing rate over time.
The supply of NEO is also limited to 100 million, with 50 million sold in an ICO and the rest stored in a smart contract. Up to 15 million NEO tokens are unlocked from the smart contract annually to help fund the project’s development. NEO can also be staked for rewards or as part of the project’s governance system, giving users more control over the blockchains' development.