NEO is a China - originated blockchain platform that aims to support smart economy and this is the reason why many people are calling this cryptocurrency the Ethereum of China. When we said that this platform supports smart economy we are thinking about digital assets, digital identity and smart contracts namely. This platform has been launched in 2014 as Antshares and in 2015 it has been launched on GitHub as a open source rival of Ethereum. The founder of NEO is Da Hongfei and he was several times pronouncing the importance of regulatory compliance, because we know that blockchain industry is facing regulatory these days.
We mentioned in the text above that NEO is Ethereum of tomorrow so it is logically that its have some improvements over Ethereum. Ethereum is using Proof of Work (PoW) mechanism in areas such as forking, speed and scaling. It can process 15 transaction per second, while NEO\'s Proof of Stake (Pos) Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism can process 1000 transaction per second.
Another NEO\'s characteristic is that can be ported to any blockchain through its InteopService feature. While Ethereum\'s developers must use the native Solidity language, NEO supports mainstream programming language such as C#, VB.Net, F#, Java and Kotlin and this is the characteristic that many people believe will make a great success of NEO.
The year of 2017 was the year of NEO. It was renamed from Antshares to NEO, released Smart Contracts 2.0 and the NEO Virtual Machine. The first ICO (initial coin offering), Red Pulse was completed successfully and several partnerships were announced, for example the partnership with Microsoft, where the company started competition for developers, distributing $490000 worth of prizes to 16 winners.