|Algorithm||SHA256 and RIPEMD160|
The NEO token is representative of shares in the Neo market, and cannot be divided. NEO holders get voting rights in the NEO ecosystem as well as rights to dividends in the form of GAS. 50 million NEO were distributed through initial crowd funding. The remaining 50 million tokens are fixed with a 1-year lockout period, expiring October 16, 2017.These lockout tokens are to be managed by the NEO Council (A group of the project’s founders) to support development and maintenance of the ecosystem. Specifically, 10 million tokens are earmarked to reward core developers and members of the NEO Council, another 10 million are to be used to stimulate the Neo development ecosystem, 15 million tokens are to be retained as a ‘contingency’, and the remaining 15 million are to be cross-invested in blockchain ecosystems supporting Neo.