NEO is another new crypto currency that was established by the Chinese Government as a Blockchain platform. NEO has two types of tokens: ANS and GAS. Neo was formerly known as Antshares. It recently hit an all time high of $52. per token. However, the Chinese government put a ban in ICO’s that affected NEO. Neo is the first decentralized open source crypto currency and blockchain platform launched in China. In addition, Neo utilizes Smart Contracts (which were first introduced by Ethereum). DApps is a system that will support the development of decentralized applications, and it is deemed the new China Ethereum. According to Neo, “The NEO token acts as the investment token of the NEO blockchain. It has a hard cap total of 100 million tokens which will be used in block creation, network management, network changes, and other consensus requirements. These 100 million tokens were all pre-mined during the genesis block creation.” In addition, “the gas token also has a 100 million hard cap, but it acts as the fuel for the NEO blockchain. The difference between the Neo token and the Gas token is that the latter was not pre-mined. Thus, the Gas token “will be used for resource allocation and network charges for operations such as running DApps, smart contracts, and providing incentives for maintaining the blockchain.”
