Blockchain Academy
We'll get together for networking with people interested in Blockchain including developers and anyone curious about Blockchain.

Neo

Neo is a blockchain project made in China. It aims at building a smart economy through smart contract, which is used in autonomously managed digital assets by distributed network, and digital proof for digitalizing assets and blockchain technology. Like Ethereum, it supports smart contracts to drive dApp and develops its own tokens, so it is often called 'China Edition Ethereum'.

Despite the similarity with Ethereum, there is the biggest difference in consensus method. Neo adopts a BFT style consensus algorithm, DBFT(Delegated Byzantine Fault Tolerance) rather than PoW and PoS, commonly used methods in public blockchains. Trusted nodes are selected on consensus and changed in real time by user voting in the network. Because this group is only small number, it is possible to make the faster consensus of blocks without branches, and over 1,000 transactions can be processed per second.

There are two tokens available in Neo: NEO, NeoGas. Having the authority to manage the network, NEO token is used when voting on the verification node and changing the parameters of the network. Referred as a fee, NeoGas token is used when registering or remitting digital assets. The verification node can set the fees for registration and remittance. However if any verification node intentionally imposes a big amount of fee, it will lose its preference on voting from the participating nodes. Because of this aspect, nodes will set the fees autonomously reasonable.

Neo works on a virtual machine like Ethereum, but it has its own individual virtual machine that it supports more programming languages(Java, Python) than Ethereum, so the developers can write smart contracts with more familiar languages which encourages the faster development and accessibility.