Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
74
ALERTS
No Alerts
REVIEW NOTES
Jun 22, 2022

Ecosystem score decreases with respect to Foundation tools score.

Jun 22, 2022

Data transfer from Protocol support to Add-ons, Hence score increased.

Jun 22, 2022

Foundation tools score decreases due to addition of doesn't exist programming language.

PERFORMANCE
Empty container
20
NODES

152 nodes

WRITE SPEED

N/A

READ SPEED

N/A

GAS FEES

N/A

UP TIME

100%

PERFORMANCE MATRIX VALUE MONITORED AT
Uptime Percentage 100%
Reddit Total Members Online 408 members
Reddit Total Members 117,000 members
Discord Total Subscribers Online 792 subscribers
Discord Total Subscribers 8,051 subscribers
Telegram Err 49 err
Telegram Ppm 1 ppm
Telegram Views Per Post 1 views
Telegram Total Subscribers Online 197 subscribers
Telegram Total Subscribers 3,117 subscribers
Node Count 152 nodes
FOUNDATION TOOLS
Empty container
57
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
Empty container
75
API DOCUMENTATION

Exists

100
NODE SETUP

Exists

100
SKELETON CODE

Doesn't Exists

VALIDATOR NODES

Exists

100
GRANT PROGRAM
Empty container
50
AVAILABLE GRANT

$ 100,000

ADD-ONS
Empty container
55
THIRD PARTY SERVICES
Empty container
100
PROTOCOL SUPPORT
Empty container
20
ADOPTION
Empty container
100
DEVELOPERS

244

REPOSITORIES

22

COMMUNITY
Empty container
100

Overview

Consensus algorithms are the core of blockchain technology as they determine the scalability and security of blockchain platforms. There are various consensus algorithms like the Proof-of-Work and Proof-of-Stake that power blockchain networks by enabling them to reach consensus regarding transactions.

dBFT is one such consensus algorithm that supports the blockchain networks in combating unreliable participants throughout a network by establishing a modular and smart economy. It was built by the NEO platform and the mechanism of the NEO blockchain is completely based on the dBFT consensus algorithm. NEO blockchain is an Ethereum substitute of Chinese origin.

About NEO

NEO is an open-source and decentralized blockchain platform that is handled by a Chinese community. NEO powers helps automate and digitize the process of asset management through smart contracts. It includes several in-house components like oracles, decentralized storage and the domain name service to provide the groundwork for the next-gen Internet.

NEO is one of the pioneers in the blockchain space that has adopted a dual token model. It is also the first-ever blockchain platform to return the complete initial amount earned to the NEO participants at the time of its first token sale, as it had enough revenue to be self-sufficient.

NEO’s Architecture

NEO’s architecture consists of various management models

  1. Economic Model
  2. NEO blockchain has two unique native tokens namely NEO and GAS. The permission to operate on the network is granted by NEO which has approximately 100 million tokens. The NEO blockchain network charges for smart contracts' and tokens' storage and operation, providing benefits to all the consensus nodes and reducing resource abuse.
  3. Distribution Mechanism
  4. NEO’s 100 million native tokens are divided into two parts. The first half consists of 50 million tokens rewarded equally to all the NEO promoters at the time of campaigning. The second half comprises 50 million NEO tokens taken care of by the NEO Council to help NEO in its development and degradation.
  5. Governance Mechanism
  6. All the NEO token holders are the network owners and are free to administer the network via voting on the network and using GAS tokens for all the platform’s services.

NEO’s consensus algorithm

NEO blockchain network functions on the basis of the dBFT consensus algorithm. It is a Byzantine Fault-Tolerant consensus technique that powers the large-scale blockchain processes to be done via proxy voting. The owner of the NEO can then select the consensus node for voting. With the help of the Byzantine Fault Tolerant process, the chosen set of consensus nodes develop a consensus and produce fresh blocks. The process of voting on the NEO platform happens spontaneously without a pre-set schedule.

Key features of NEO

  1. Single block finality with dBFT consensus.
  2. In-built oracle for secure off-chain data access.
  3. Cross-chain interoperability.
  4. Dual token model.
  5. Community-run blockchain: By the people for the people.

Founders of NEO

  1. Da Hongfei
  2. Erik Zhang

Popular use cases of NEO

  1. NeoBurger dApp
  2. Humswap NFT & DeFi platform
  3. PolyNetwork
  4. Flamingo Finance DeFi protocol