What the NEO is GAS

in cryptocurrency •  2 years ago 

NEO is to antshares, what GAS is to antcoins.

Most people don't know the first thing about antcoins or gas. In fact most people don't know a heck of a lot about the NEO project at all.

As most already know, NEO is a project formerly known as Antshares.

This is the first official blockchain for China and it is often compared to Ethereum. NEO is currently considered one of the top 10 crytocurrencies in terms of market capitalization.

While its often compared to Etheruem, NEO is actually much more robust. It is compatible with multiple programming language platforms such as Microsoft.Net, Java, Kotlin, Go and Python.

Etheruem on the other hand only works with the Solidity platform.

Now, on the NEO blockchain exists another cryptocurrency - that of GAS.

Commonly known as Antcoins, GAS is the actual coin used in ICO compared to NEO which represents the shares.

GAS has begun to get noticed because of the rise in demand for NEO.

NEO produces GAS in a non-proportionate ratio. Because of this GAS will eventually become scarce which will cause its demand to rise - and the belief is cause the value of both GAS and NEO to rise because of that demand.

When GAS launched the investors of NEO were absolutely thrilled.

This has caused a surge in the Binance exange usage - and is very good news indeed or those who like myself are enthusiastic about the future of NEO.

The time is now to grab GAS!

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*What is the % paid out for holding NEO in GAS, for lets say a month or a year ?

  ·  2 years ago (edited)

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I am not understanding the question. NEO produces GAS in a similar way that ethereum produces coins. The value is based on supply and demand. The generation of GAS being non-proportionate to NEO means there will be a limited supply. The value however is as with all coins based on a market evaluation of those buying and selling just like with ethereum produced coins - at least thats my understanding. Perhaps I am not understanding something?

If I could like that comment 1000 times I would @empty That helps me understand what was being asked more....

Its all about the GAS!

thank you for sharing !! was just getting into all this Neo gas stuff!

Gas seems amazingly awesome when I see it's chart. But is it worth investing in assets. I mean they are not mineable.
With due respect I invested twice in golem which is also asset and the output was not positive.
The post is upvoted as it's informative and knowledge based.
Thankyou

China is different than other nations. They are not fighting the crypto world to keep everything stock based. They realize a natural shift is going to happen with or against the powers that be.

I think this is their first go at it. It is indeed an asset. The difference is they won't have a nation fighting the asset as "unregistered investment" (this is my opinion) and other such things.

Assets are early in crypto tech still, and they run huge potential for scams. But as I am involved with a crypto based society of investors and project creators - I have already put a LOT of faith into the asset based system. I have not had your experience.

But in all fairness, someone who joined ONECOIN could say "I tried cryptocurrency and it was a scam". It really doesn't make cryptocurrency a scam... the ONECOIN. Just because one investment attemtp fails, doesn't mean others will. Try a different asset or two, there are a few of them around these days.

Ok thanks for detailed guidance. I will surely put some of my investments there as well.

Buy some Gas. Good post. Followed you.

Seems to me, I need to do some reading about this! Tnx for sharing this

If it weren't for you I probably wouldn't even known what NEO was in the first place :P Still thinking of picking up some NEO or Gas when I have some money for it.

Great read. I'm invested and enjoy watching my GAS grow in the Neon wallet. :)

I gotz GAS and getting more.

gaz all in

If you own some Neo and store it in an exchange such as Binance, how do you claim the "generated" Gas, does anyone know?

I store NEO in my NEON desktop wallet. I claim GAS every 5 minutes while my wallet is open.

Thanks queenwiki for the clarification. I have later found out that as long I store the Neo in Binance, the gas generated will be distributed to me by Binance, as if the Neo were stored in a desktop wallet. This is one of the service provided by Binance.

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  ·  2 years ago Reveal Comment

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