### What is NEO?

NEO is a blockchain-based cryptocurrency and application platform used to run smart contracts and decentralised applications. It aims to create a "smart economy" by digitising assets and identities through the use of blockchain technology.

### How does NEO work?

NEO operates using a combination of a blockchain and a unique consensus mechanism known as Delegated Byzantine Fault Tolerant (dBFT), along with Proof of Stake (PoS). This system allows for large-scale participation in consensus through proxy voting. NEO holders vote for bookkeepers who then use the BFT algorithm to reach consensus and generate new blocks. The platform supports smart contracts using the NeoVM, a lightweight and versatile virtual machine designed for high efficiency.

### What are the potential use cases for NEO?

NEO's use cases span across on-chain governance, passive income through staking, smart economy applications, digital identity solutions, development of decentralised applications (dApps), and cross-chain interoperability. It is recognised for real-world applications like cryptographic trade platforms, improved B2C engagement networks, cross-chain expansions, and decentralised exchanges. NEO's partnerships and integrations further bolster its use case capabilities across various industries such as financial services, gaming, and telecommunications.

### What is the history of NEO?

NEO was initially founded as Antshares in 2014 by Da Hongfei and Erik Zhang. In 2017, it was rebranded to NEO, marking a significant shift towards an enhanced focus on smart contracts and its "smart economy" vision. The project's significant milestones include a successful ICO in 2016, reaching a top-tier market status by 2017, and the launch of Neo3 in 2021, which revamped the existing blockchain infrastructure to bolster its technological capabilities and developer adoption. NEO maintains a dual-token system involving NEO and GAS, facilitating governance and utility on the network.

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