NEO: The Chinese Ethereum that continues to gain ground in 2024

Why is NEO still relevant?

While Ethereum continues to dominate the smart contract space, NEO has been quietly building its own ecosystem. Launched in 2014 as Antshares and rebranded in 2017, this Chinese blockchain combines three pillars: digital assets, smart contracts, and verified identity.

The dual system that few understand

NEO operates with two tokens:

• NEO: Governance token. Owning it gives you a vote in key network decisions.
• GAS: The fuel. You use GAS to pay for transactions and execute contracts.

The interesting thing: if you hodl NEO, you automatically generate GAS. It's like having a machine that prints money while you sleep (theoretically).

What is the difference of Ethereum?

1. Speed: NEO uses dBFT (DeleGated Byzantine Fault Tolerance), a more agile consensus than traditional PoW.
2. Languages: While Ethereum requires Solidity, NEO accepts C#, Java, and Python. Less barrier to entry for devs.
3. Focus: Ethereum is global; NEO targets the Asian market, especially China.
4. Interoperability: NEO can “talk” to other blockchains, which is crucial for the decentralized future.

Real use cases (o almost)

• DeFi: Decentralized lending and trading ( like on any blockchain, but with less congestion )
• Asset Tokenization: Converting real goods (properties, art) into digital tokens
• Enterprise blockchain: NEO collaborates with governments and corporations on supply chains and digital identity.

And the ecosystem?

NEO has dApps, DeFi protocols, and development tools. It is not Ethereum, but it is not dead either. The growth is slow but consistent.

The reality: NEO is a bet on the decentralization of the East, with solid technology but in a gray area between global recognition and the Asian niche. Those who bet on it believe that the blockchain future will be multipolar.