NEO is an open source platform driven by the community. Using blockchain technology and digital identities, developers can digitize and automate asset management through smart contracts. NEO is committed to building the next-generation Internet infrastructure through a distributed network, laying the foundation for the large-scale implementation of blockchain technology, so as to realize the grand vision of the smart economy.

1. Project introduction

Based on blockchain technology, NEO converts real assets into digital assets, realizes intelligent management through smart contracts, and users select digital certificate certification agencies to realize identity authentication. NEO is used to realize the management rights to the NEO network. NEO is one of the most popular public chain projects in domestic and foreign communities.
The NEO blockchain combines a series of technologies such as point-to-point network, Byzantine fault tolerance, digital certificate, smart contract, superconducting transaction, cross-chain interoperability protocol, etc., allowing you to quickly, efficiently, safely and legally manage your smart assets.
Consensus mechanism: DBFT
The full name of DBFT is Delegated Byzantine Fault Tolerant, which is a Byzantine fault-tolerant consensus mechanism that realizes large-scale node participation in consensus through proxy voting. Holders of NEO management tokens can vote for the bookkeepers they support. Then the selected bookkeeper group will reach a consensus and generate a new block through the BFT algorithm. Voting takes place continuously in real-time on the NEO network, rather than by a fixed term.
DBFT provides f=⌊(n-1)/3⌋ fault tolerance for a consensus system composed of n consensus nodes. This fault tolerance includes both security and availability, and can resist general faults and Byzantine faults , and is applicable to any network environment. DBFT has good finality, one confirmation is the final confirmation, the block cannot be forked, and the transaction will not be revoked or rolled back.
Under NEO's DBFT consensus mechanism, a block is generated every 15-20 seconds, and the measured transaction throughput can reach about 1000tps, which is excellent performance in the public chain. Through proper optimization, it is capable of reaching 10,000TPS, which can support large-scale commercial applications.
DBFT combines digital identity technology so that the bookkeeper can be a real-name individual or organization. As a result, unconventional operations such as freezing, revocation, inheritance, retrieval, and transfer of judicial decisions are possible. This is conducive to the registration and issuance of compliant financial assets in the NEO network. The NEO network plans to support such operations when necessary.
Smart contract system: NeoContract
NEO's smart contract system consists of three parts:
NeoVM - Universal Blockchain Virtual Machine:NeoVM is a Lightweight general-purpose virtual machine, its architecture is very close to JVM and .NET Runtime, similar to a virtual CPU, responsible for reading and sequentially executing the instructions in the contract, and performing flow control, arithmetic operations, and logic according to the functions of the instructions operation, etc. It has good startup speed and versatility, and is very suitable for small programs such as smart contracts. It can also be ported to non-blockchain scenarios, or integrated with IDEs to provide a good development experience. The functions of NeoVM can be extended, and the JIT (just-in-time compiler) mechanism can be introduced to improve the execution efficiency of instructions.
InteropService - Interoperability Service: Used to load underlying services such as blockchain ledgers, digital assets, digital identities, and persistent storage areas. They are like virtual devices provided for virtual machines, enabling smart contracts to access these services at runtime to achieve some advanced functions. Through this low-coupling design, NeoVM can be transplanted to any blockchain or even non-blockchain systems, greatly expanding the scope of application of smart contracts.
DevPack - Compiler and IDE Plugins: The DevPack contains high-level language compilers and IDE plugins. Since the architecture of NeoVM is highly similar to JVM, .NET Runtime, etc., the compilers in these DevPacks can compile intermediate languages ​​such as Java byte code and .NET MSIL into NeoVM instruction sets. Developers of Java / Kotlin and C# do not need to learn new languages, and can immediately start writing smart contracts in familiar IDE environments such as VS and Eclipse. This greatly reduces the learning cost of smart contracts and enables the establishment of a rich NeoContract smart contract ecosystem.
NeoContract can build the call tree of the smart contract through static analysis before running the smart contract. Through the deterministic call tree, NEO nodes can dynamically fragment the smart contract to achieve theoretically unlimited expansion, overcoming the "congestion effect" caused by the static fragmentation of other blockchain systems.
Cross-chain interoperability protocol: NeoX
NeoX is a protocol to achieve cross-chain interoperability. NeoX is divided into two parts: "Cross-chain asset exchange protocol" and "Cross-chain distributed transaction protocol".
Cross-chain asset exchange protocol:
NeoX expands on the existing dual-chain atomic asset exchange protocol, allowing multiple participants to exchange assets on different blockchains Exchange, and ensure that all steps in the entire transaction process all succeed or fail. In order to realize this function, we need to use the function of NeoContract to create a contract account for each participant. For other blockchains, if it is not compatible with NeoContract, it can also be compatible with NeoX as long as it can provide simple smart contract functions.
Cross-chain distributed transaction protocol:
Cross-chain distributed transaction means that multiple steps of the transaction are distributed on different blockchains, and the consistency of the entire transaction is guaranteed . This is an extension of cross-chain asset exchange, extending the behavior of asset exchange to arbitrary behavior. In layman's terms, NeoX makes cross-chain smart contracts possible. A smart contract can execute different parts on multiple different blockchains, either all of them are executed, or they are all returned to the state before execution. This gives great imagination to cross-chain collaboration, and we are exploring the application scenarios of cross-chain smart contracts.
Distributed storage protocol: NeoFS
NeoFS is a set of distributed storage protocol using Distributed Hash Table technology. NeoFS indexes data by file content (Hash) rather than file path (URI). Large files will be divided into fixed-size data blocks and stored in many nodes in a distributed manner.
The main problem with this type of system is the need to find a balance between redundancy and reliability. NeoFS plans to solve this contradiction through the token incentive mechanism and the establishment of backbone nodes. Users can choose the reliability requirements of files. Low-reliability files can be stored and accessed for free or almost free, and high-reliability files will be provided with stable and reliable services by backbone nodes.
NeoFS will be one of the InteropService interoperability services under the NeoContract system, enabling smart contracts to store large files on the blockchain and set access permissions for these files. In addition, NeoFS can be combined with digital identities, so that digital certificates that record digital identities can be issued, transmitted, and revoked point-to-point without centralized server management. In the future, old block data can be stored in NeoFS, so that most full nodes can release old data, obtain higher scalability, and ensure the integrity of historical data.
Quantum Resistant Cryptography: NeoQS
The emergence of quantum computers will pose a major challenge to RSA and ECC-based cryptography. Quantum computers can solve the large number decomposition problem that RSA relies on and the elliptic curve discrete logarithm problem that ECC relies on in a very short time. NeoQS is a lattice-based cryptography mechanism, and QS is the abbreviation of Quantum Safe. At present, quantum computers do not have the ability to quickly solve the shortest vector problem (SVP) and the closest vector problem (CVP), lattice cryptography is considered to be the most reliable algorithm against quantum computers.

2. Comment

Neo is an open source platform driven by the community. It leverages blockchain technology and digital identities to digitize and automate asset management using smart contracts. It aims to use a distributed network to create a smart economy by building the infrastructure of the next-generation Internet and laying a solid foundation for mass blockchain adoption.
Neo MainNet was launched in 2016 and has been running stably for more than 3 years. Neo expects to launch Neo3 in 2020, a robust implementation with high throughput, enhanced stability and security, an optimized smart contract system, and a fully functional infrastructure designed to drive developer adoption and Accelerate enterprise-grade blockchain innovation.

Related links:
https://neo.org/
https://www.huobi.io/zh-cn/assetintro/#neo
> http://www.qukuaiwang.com.cn/szhb/2334.html#jj
https://info.binance-cn.com/en/currencies/neo