Today, we’ll discuss a depressing story that takes us back to the Warring States Period in China’s cryptocurrency space. At that time, NEO was not a high-profile project, and no one could have predicted that it would eventually rise from a price of $0.15 to $200, creating a magnificent trend of a thousand-fold increase. This makes those investors who got off the market in the early stages can only look at NEO's high price and sigh with emotion.

NEO is a community-driven open source platform that uses blockchain technology and digital identity verification to provide developers with the ability to realize asset digitization and automated management. The core concept of NEO is to convert real assets into digital assets and achieve intelligent management through smart contracts. Users can choose a digital certificate authority for identity verification to ensure security. NEO tokens are used to manage the NEO network.

The NEO project has attracted much attention in the domestic and foreign communities. Its unique blockchain technology integrates point-to-point networks, Byzantine fault tolerance, digital certificates, smart contracts, superconducting transactions, cross-chain interoperability protocols and other technologies, allowing users to quickly , manage smart assets efficiently, safely and legally.

The NEO blockchain has two built-in native tokens: NEO (NEO for short) and NeoGas (GAS for short). NEO token is a token used to manage the network. Its total supply is 100 million. It is mainly used for management tasks such as voting for accounting and adjusting network parameters. The minimum unit of NEO tokens is 1 and is indivisible.

On the other hand, the NeoGas token is a gas token used for network resource control and its maximum supply is capped at 100 million. The NEO network will charge fees for operations such as token transfers and smart contract execution to incentivize the economic participation of bookkeepers and prevent resource abuse. The smallest unit of NeoGas tokens is 0.00000001.

Recently, the price of the NeoGas token has increased rapidly, reminding people of the success story of NEO. In just ten days, the price of NeoGas tokens increased more than 6 times, attracting many investors to follow suit.

Da Hongfei, the founder of NEO, graduated from South China University of Technology and is the founder and CEO of Distribution Technology. He began to explore the application of blockchain technology as early as 2011, and can be said to be one of the earliest advocates of blockchain technology in China. As one of the earliest and relatively successful blockchain companies in China, NEO has a relatively low-key development history, and was even rarely mentioned during the last bull market. When talking about domestic public chain projects, Tron is often the first thing that comes to mind, while NEO is rarely mentioned. However, the recent surge in the price of the NeoGas token has once again drawn attention to the NEO project, bringing it back into the spotlight. The contribution of NEO and its founder Da Hongfei to the domestic blockchain field cannot be ignored.

Recently, Neo and Da Hongfei once again attracted people's attention at the HK Web3 Evolution Summit and Neo Asia Pacific Hackathon Hong Kong Finals held in Hong Kong. This event brought Da Hongfei and Neo to the stage again, unveiling the mystery of their long-standing low profile. At this event, Da Hongfei announced that Neo is developing a side chain that is capable of resisting miner extractable value (MEV) attacks and is compatible with the Ethereum Virtual Machine (EVM). This move may be one of the key factors leading to the recent increase in NeoGas prices.

While the price hype is eye-catching, it is the development of the entire ecosystem that underpins price increases. Neo has always faced challenges in ecosystem development, and releasing an Ethereum-compatible sidechain will help attract more traffic to the Ethereum ecosystem. I hope that Neo's strong comeback this time will not end in an anticlimax, but can achieve sustainable development.

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