NEO is a blockchain platform and cryptocurrency designed to build a scalable network of decentralized applications. Neo in its nature that differs from other cryptocurrencies is best described as a smart economic system that accommodates and features digitized payments, digitized identities, and digitized assets. More specifically, Neo blockchain operates as a distributed network for the smart economy as it allows developers free entry with options to build dApps in accordance with their choice of design.
Neo functions in a way that provides developers with the necessary facilities essential to perform smart contract operations effectively and efficiently. It allows them easy entry with no complex process. In other words, users do not need much technical knowledge or expertise to build applications and smart contracts on the network.
The protocol provides a flexible ecosystem for users following the two tokens it adopts on its network. In particular, the platform uses NEO and GAS tokens for its operations. The former is the blockchain’s native cryptocurrency while the latter is the utility token for the network. The Neo token plays a major role in the governance of the protocol. It tends to be indivisible as each of the NEO tokens signifies a share of the Neo blockchain. GAS tokens on the other hand are useful for carrying out transactions on the platform.
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