NEO

The NEO token supports governance and ecosystem participation on the Neo blockchain. Key uses include:

1. Governance: NEO holders vote for the Neo Committee, which is responsible for maintaining consensus nodes and deciding on blockchain parameters and upgrades.

2. Asset Tokenisation: Neo enables the creation and management of tokenised physical and digital assets. Ownership and transfers are recorded on-chain.

3. Decentralised Applications (dApps): The platform supports the development of dApps in areas such as decentralised finance (DeFi), storage, and cross-chain services.

4. Decentralised Storage: NeoFS offers file storage with permission controls, suitable for use cases such as content delivery and enterprise data management.

5. Naming Services: NeoNS provides readable domain names for wallets and resources, improving usability.

6. Oracle Access: Smart contracts on Neo can retrieve off-chain data using the Oracle service, enabling functions like market data access or API integration.

7. Cross-Chain Interactions: NeoX facilitates communication between Neo and other blockchains, supporting asset and contract interoperability.

Neo introduced Neo N3 as a significant protocol upgrade, replacing the earlier Neo Legacy chain. Migration involves transferring assets to an N3 address to access updated features.

Migration Process

1. Transaction on Neo Legacy Users send a transfer transaction to a migration address: - Mainnet: ANeo2toNeo3MigrationAddressxwPB2Hz - Testnet: AJ36ZCpMhiHYMdMAUaP7i1i9pJz4jMdiQV The destination N3 address must be included in the Remark14 field.

2. Requirements - Free migration for transfers of ≥10 NEO or ≥20 GAS - Smaller amounts incur an extra fee of 1 GAS - Each transaction must only include one type of asset

3. Processing Valid transactions are processed within one business day. Assets are credited to the specified N3 address.

Neo was co-founded in 2014 by Da Hongfei and Erik Zhang under the original name AntShares. In 2017, the project was rebranded to Neo to reflect a broader platform vision and the integration of smart contracts.

Da Hongfei is a Chinese entrepreneur who co-founded both Neo and Onchain, a blockchain infrastructure company that develops technology for enterprise and institutional use. He has played a key role in promoting blockchain adoption in China and has been actively involved in public and enterprise blockchain development.

Erik Zhang is the lead developer of Neo and the architect of its Delegated Byzantine Fault Tolerance (dBFT) consensus algorithm. He continues to be involved in the technical design and implementation of core features of the Neo blockchain.

Neo's strategic direction and ecosystem development are overseen by the Neo Foundation, which manages funding and long-term planning. The Neo Global Development (NGD) team, established by the Foundation, handles global community outreach, technical development, and ecosystem partnerships.

Independent developer communities also contribute to Neo’s infrastructure and applications, including:

• COZ (City of Zion): An open-source development group responsible for building core tools such as wallets, SDKs, and explorers.
• NeoSPCC (Neo Saint Petersburg Competence Center): A team focused on infrastructure development, including the decentralised storage layer NeoFS.
• NeoEconoLabs (NEL): A China-based developer group supporting smart contract tooling and broader ecosystem participation.

These groups collaborate with the Foundation to support the platform's decentralised development model and ongoing upgrades.