[Crypto projects](https://revain.org/projects/) › NEO

# NEO: how it works, supply and reviews

## In short

- **Type**: Layer-1 smart contract platform with a dual-token model (NEO and GAS)
- **Maximum supply**: 100 million NEO, all created at genesis; NEO is indivisible
- **Risks and caveats**: Blocks are produced by a small set of consensus nodes drawn from a 21-member council elected by NEO holders.
- **Checked**: 28 October 2026

## Key facts

- **Ticker**: NEO
- **Network**: own blockchain
- **Launched**: 2016-10
- **Official site**: [neo.org](https://neo.org/)
- **Whitepaper**: [github.com/AntShares/AntShares/wiki](https://github.com/AntShares/AntShares/wiki)
- **Source code**: [github.com/neo-project/neo](https://github.com/neo-project/neo)

Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed.

## What is NEO

Neo is an open-source smart contract blockchain founded in 2014 as Antshares and renamed Neo in 2017. It uses two tokens: NEO, an indivisible token for governance votes, and GAS, which pays network fees; the current version, Neo N3, adds native storage, oracles and a name service.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Layer-1 smart contract platform with a dual-token model (NEO and GAS) |
| Consensus | Delegated Byzantine Fault Tolerance (dBFT 2.0); blocks need a two-thirds majority of consensus nodes, giving single-block finality |
| Launched | MainNet launched in October 2016; source code published in July 2015 |
| Smart contracts | Yes, executed in NeoVM |
| Programming language | C#, Python, Go, TypeScript and Java |

## Supply and issuance

| Parameter | Details |
|---|---|
| Maximum supply | 100 million NEO, all created at genesis; NEO is indivisible |
| Initial distribution | About 50% reserved by the Neo Foundation for ecosystem development |
| Issuance | 5 GAS created per block, mostly paid to NEO holders who vote |
| Fee burn | System fees in GAS are burned; network fees go to consensus nodes |

## What NEO is used for

- NEO: one token is one vote to elect the 21-member Neo Council, which includes the consensus nodes.
- GAS: pays for transactions, smart contract execution and storage.
- NEO holders who vote receive the largest share of newly generated GAS.

## Who develops and governs NEO

- **Founders**: Da Hongfei and Erik Zhang
- **Foundation**: Neo Foundation sets overall goals and funds independent groups
- **Developer**: Neo Foundation, core developers, Neo Global Development (NGD) and sponsored community groups
- **Governance**: NEO holders elect a 21-member Neo Council that sets parameters such as system fees and elects oracle nodes
- **Open source**: Yes, MIT licence

## History

| Date | Event |
|---|---|
| 2014 | Founded by Da Hongfei and Erik Zhang as Antshares. |
| July 2015 | Original source code published on GitHub. |
| October 2016 | MainNet launches. |
| 2017 | Antshares is rebranded as Neo with Smart Contracts 2.0. |
| 2021 | Upgrade to Neo N3, with native oracles, storage, name service and on-chain governance. |

## Security and audits

- dBFT consensus gives single-block finality, so confirmed transactions cannot be reversed by a fork.

## Risks and caveats

- Blocks are produced by a small set of consensus nodes drawn from a 21-member council elected by NEO holders.
- About half of all NEO was reserved by the Neo Foundation at genesis.
- The project states that some centralised coordination is needed to reach its goals.

## Official links

- Website: [neo.org](https://neo.org/)
- Docs: [docs.neo.org](https://docs.neo.org/)
- Source code: [github.com/neo-project/neo](https://github.com/neo-project/neo)
- Governance: [neo.org/gov](https://neo.org/gov)

## Questions and answers

**What is NEO?**

NEO is the governance token of the Neo smart contract blockchain. Holders vote for the Neo Council and receive GAS, the token used to pay network fees.

**Who created Neo?**

Da Hongfei and Erik Zhang founded Neo in 2014 as Antshares; it was renamed Neo in 2017.

**What is the maximum supply of NEO?**

There are 100 million NEO, all created at genesis. NEO cannot be divided into smaller units.

**How does Neo reach consensus?**

Neo uses delegated Byzantine Fault Tolerance (dBFT 2.0): a two-thirds majority of consensus nodes must agree, so each block is final once confirmed.

## Sources

- [CoinGecko — NEO](https://www.coingecko.com/en/coins/neo)
- [Neo — Neo Defined](https://neo.org/about)
- [Neo — NEO & GAS](https://neo.org/neogas)
- [Neo — Technology](https://neo.org/technology)
- [Neo — Governance](https://neo.org/gov)
- [Neo — GitHub repository](https://github.com/neo-project/neo)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/neo/