The Neo platform has a native cryptocurrency called Neo, representing blockchain ownership. It is used to vote on network decisions and to pay for transaction fees and other services within the Neo ecosystem. The Neo platform also has another cryptocurrency called Gas, which fuels the execution of smart contracts and dApps on the blockchain. Gas is generated through staking, where users can earn rewards for holding and using Neo.
One of the main goals of the Neo platform is to create a smart economy by combining digital assets, smart contracts, and digital identities. The platform aims to create a seamless and secure way for individuals and organizations to digitize and automate their assets and processes. The Neo platform is also designed to be scalable and environmentally friendly, using a proof-of-stake (PoS) consensus algorithm called dBFT (delegated Byzantine Fault Tolerance).
The Neo platform is governed by the Neo Foundation, a non-profit organization responsible for developing and maintaining the platform. The foundation is funded through a portion of the total supply of Neo, which is currently capped at 100 million tokens. The Neo platform has a strong community of developers and users, with a growing number of dApps and partnerships with companies in various industries.
The supply and demand of the cryptocurrency in the market determine the price of Neo. It can be bought and sold on cryptocurrency exchanges, including Binance, Bitfinex, and Coinbase. The price of Neo can fluctuate significantly based on market trends and events, and investors must carefully consider the risks before buying or selling the cryptocurrency.