Neo, formerly known as Antshares, is a blockchain-based platform founded in China by Da Hongfei and Erik Zhang in 2014. It is an open-source blockchain platform that allows the creation of decentralized applications and smart contracts. In this article, we will take a deep dive into the history of Neo and how it has evolved over the years. If you are starting on crypto trading,try https://quantumpro360.org! It is an amazing online trading platform for a seamless trading experience.
Introduction to Neo
Neo was created to address the scalability issues faced by existing blockchain platforms. It is designed to be more efficient, faster, and more flexible than its competitors. Neo uses a unique consensus mechanism called Delegated Byzantine Fault Tolerance (dBFT), which ensures that the network is secure and fast. This mechanism allows for faster transaction times and lower fees, making it more attractive for developers.
In 2016, Neo conducted its initial coin offering (ICO), raising $8 million. At that time, Neo was known as Antshares. The ICO was one of the most successful in China, and it was oversubscribed by 50 times. The funds raised during the ICO were used to develop the platform further.
In June 2017, Antshares rebranded to Neo. The rebranding was done to make the platform more appealing to a global audience. The name Neo was chosen because it means new and young in Greek. The rebranding also included a change in the logo and website design.
Neo 3.0 Upgrade
In February 2019, Neo announced the Neo 3.0 upgrade, which was designed to improve the performance, stability, and security of the platform. The upgrade included changes to the consensus mechanism, the virtual machine, and the smart contract system. Neo 3.0 also introduced several new features, such as the ability to execute smart contracts in multiple programming languages.
Neo Global Development (NGD)
Neo Global Development (NGD) was founded in 2018 to promote the development of the Neo ecosystem. NGD is responsible for building partnerships, providing technical support, and promoting the adoption of Neo. It is also responsible for developing tools and services that make it easier for developers to build decentralized applications on the Neo platform.
Neo Eco Fund
In November 2019, Neo announced the creation of the Neo Eco Fund, which is designed to support the development of the Neo ecosystem. The fund provides financial support to startups and developers who are building decentralized applications on the Neo platform. The Neo Eco Fund is one of the largest blockchain funds in the world, with over $100 million in assets.
Neo Blockchain Institute Singapore (NBIS)
In July 2020, Neo announced the launch of the Neo Blockchain Institute Singapore (NBIS). NBIS is a non-profit organization that is focused on promoting the development of the Neo ecosystem in Singapore. It is responsible for organizing events, providing technical support, and promoting the adoption of Neo in the region.
In conclusion, Neo has come a long way since its inception in 2014. It has evolved into a robust blockchain platform that is more efficient, faster, and more flexible than its competitors. The platform has undergone several upgrades and rebranding, and it continues to grow and expand. With the support of Neo Global Development and the Neo Eco Fund, the future of Neo looks bright.
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