Neo
Crypto Overview
Overview
Neo, formerly known as Antshares, is a blockchain platform and cryptocurrency launched in 2014. It's often called 'Chinese Ethereum' due to its smart contract capabilities and origins in China. The platform aims to build a 'Smart Economy' by digitizing assets and automating their management using smart contracts.
Intended Utility
Neo's primary purpose is to serve as a foundation for decentralized applications (dApps) and digital assets. The platform uses a dual-token model: NEO for governance and GAS for paying network fees. NEO token holders can vote on network parameters and earn GAS tokens.
Actual Utility
The platform currently hosts various dApps, with particular focus on digital identity solutions, decentralized finance (DeFi), and gaming applications. Neo N3, the latest version of the platform, introduced enhanced features including native oracle implementation, NeoFS decentralized storage, and one-block finality.
Token Distribution and Governance
The initial distribution allocated 50% of tokens to public participants during the ICO, with the remaining 50% held by the Neo Council for platform development. These tokens are gradually being distributed to incentivize ecosystem development. The Neo Foundation maintains transparency through regular financial reports.
Development Activity
Neo maintains active development with regular GitHub commits. The project has established partnerships with various organizations and continues to expand its ecosystem through Neo Global Development (NGD). The platform supports multiple programming languages, making it accessible to a broader developer base.
Revenue Model
Neo's revenue model is based on network fees paid in GAS tokens, which are distributed to network participants. The system does not involve interest-bearing mechanisms or prohibited activities under Islamic law.
Crypto Impact
To assign a comfort level investing in Neo from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Neo.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.