What is Neo Smart Economy (NEO)?

Neo Smart Economy or NEO (NEO/USDT – Trade it here) is a software network that aims to operate as a platform to engage everyone in commerce and build decentralized goods and services on top of blockchain technology. This article will discuss the essential features of Neo Smart Economy and its tokenomics (plus how-to-buy guide).

Check out NEO Smart Economy and NEO token on MEXC Global!
NEO Smart Economy (NEO) Logo

Core Features of Neo Smart Economy

Sometimes people call Neo Smart Economy the “Ethereum of China”. This is because the network has some features that Ethereum shares as well, such as decentralized applications (dApps) and social networks. Let’s explore the main features of this network:

  • NeoContracts. Unlike other smart contract-based protocols, the developers of NeoContract can utilize existing programming language (C# and Java etc.) instead of learning new languages. As a result, there are more developers are willing to build new dApps or support those languages that already exist may find NeoContract’s flexibility to work across different programming languages appealing.
  • Delegated Byzantine Fault Tolerant (dBFT). This is what Neo Smart Economy uses as a consensus mechanism To protect its blockchain and maintain the synchronization of its distributed computer network. The dBFT is similar to Proof-of-Stake (PoS) mechanism and it utilizes a real-term voting system to decide the order of running software for computers to create the next block on its blockchain.

Tokenomics of the Neo Smart Economy

NEO coin has a fixed supply of 100 million. More than 70% of the total supply is currently in circulation with a approximate market cap of $2 billion. Smart contracts are gradually releasing the roughly half of Neo Smart Economy currencies that were kept in reserve to pay for Neo Foundation expansion.

Platform users use Gas to fund transaction on the Neo blockchain. Nevertheless, there is a built-in discount of 10 Gas for each transaction in the system, thus the majority of transactions are free. The fees are divided between system fees, which are returned to token holders through staking. In terms of transaction fees, those are paid to the consensus nodes.

How to buy NEO token?

You can buy this token on MEXC following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “NEO” using the search bar to see the available trading pairs. Take USDT trading pair as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of token you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy NEO] to confirm your order. You will find the purchased tokens in your Spot Wallet.

Recent Token Price & Performance

NEO reached the highest price (ATH) of 140.7054 USDT on May 6th, 2021. On the other hand, the lowest price since the date of ATH date was 7.8153 USDT on July 11th, 2022.

Ready to dive in the crypto world?

Stay tuned and buy trending tokens by visiting listings in the Innovation and Assessment zones as well as major tokens in the Main Zone – we have more innovative projects like Neo Smart Economy to come! MEXC lists moonshot and gives access to trade trending coins. To uncover additional hot tokens that have already been posted, also check out the Hot Projects area. Visit MEXC Academy if you want to learn more about crypto trading in general.

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