NEO (#NEO ) is a decentralized, open-source blockchain platform that enables the creation of blockchain-based services and products with fast transactions. It is often compared to #Ethereum due to its similarities, such as the capacity to create decentralized applications. Neo also offers additional features like decentralized file storage, an oracle system, and a digital identity system that allows tokenized identities based on real-life identity, complying with #AML and #KYC regulations.

Neo has two native cryptocurrencies: NEO and GAS. NEO is used for network governance, staking, and voting, while #GAS is used to pay for computational power and transaction fees. The platform uses a Proof of Stake consensus mechanism with a unique protocol called delegated Byzantine Fault Tolerance (dBFT), allowing up to 10,000 transactions per second while operating between approved nodes.

Developers can create and develop Dapps using NeoContracts, which are different from other smart contract protocols as they allow the use of well-known programming languages like Java. Neo's combination of PoS protocol and dBFT consensus mechanism ensures fast transactions, smooth operations, and scaling of the network.