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RE: How much GAS does 1 NEO generate?

in #neo • 7 years ago

Wow, I really need to start reading up on some of these cryptos I hold . .

NEO is like Ethereum, and GAS is what you use to pay to use the blockchain.

When you say pay the blockchain, what exactly do you mean?

I'm excited about NEO, from the moment I heard about it, I knew it would be a chicken dinner winner. I only wish I could have afforded more :-(

Cryptogee

7 years ago in #neo by
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     7 years ago 

    GAS is the token to pay for all the service fees on the blockchain. Any company that desires to register or change assets on the blockchain will have to acquire GAS to pay for the service fees. The service fee for registering or changing assets will be distributed proportionally to all NEO holders, so GAS is never destroyed.
    https://medium.com/@MalcolmLerider/clarification-on-neo-gas-and-consensus-nodes-aa94d4f4b09

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       7 years ago 

      Do we think companies will want to pay for services with a fluctuating crypto, instead of fiat? For example, if Hertz wants to use NEO platform, and has to pay a subscription to use its software, why would Hertz convert their fiat to GAS (which fluctuates in value) instead of just paying NEO in dollars, or yen? What will encourage the adoption, is my question.

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