Gas (Gas )
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The dBFT is called the Delegated Byzantine Fault Tolerant, a Byzantine fault-tolerant consensus mechanism that enables large-scale participation in consensus through proxy voting.
Binance GAS/BTC $2,540,040 36%
Huobi GAS/BTC $1,856,230 27%
Huobi GAS/ETH $1,843,810
In the genesis block of the NEO network, 100 million NEO’s are generated. 100 million GAS, corresponding to the 100 million NEO, will be generated through a decay algorithm in about 22 year’s time to address holding NEO. NEO is transferred to a new address, the subsequent GAS generated will be credited to the new address.
Anyone the uses NEO(NEO)
SaluS(SLS), Sphere9SPHR), KekCoin(KEK)
NEO’s alternate token, GAS, is generated at a rate of 8 GAS per block with the construction of the blockchain. The rate of production is reduced by 1 token for every 2 million blocks generated. Sometime around 2039, GAS circulation will reach 100 million and production will cease.
Unlike NEO, GAS can be divided.
GAS dividends also accumulate as fees to the network. Users pay in GAS to deploy and run smart contracts. Fees are proportional to the computing resources consumed by the contract. These fees are distributed to ‘bookkeepers’ as reward for their activity on the network.
The NEO network will GAS allows the “free” movement of NEO and offers a divisible resource related to NEO for traders and investors. a threshold by voting to exempt GAS from a certain amount of transfer transactions and smart contract operations to enhance the user experience.
When a large amount of spam transactions occur, NeoID can be used to prioritize transactions and smart contracts with qualified identities. Transactions and smart contracts with no qualifying digital identities can get priority by paying GAS
It is only used for NEO and has no true competition. GAS is the fuel token for the realisation of NEO network resource control, with a maximum total limit of 100 million.
The NEO network charges for the operation and storage of tokens and smart contracts, thereby creating economic incentives for bookkeepers and preventing the abuse of resources. The minimum unit of GAS is 0.00000001.
N/A – see NEO for supporting cryptocurrency roadmap.
INITIAL COIN OFFERING (ICO)
GAS is generated with each new block. The initial total amount of GAS is zero. With the increasing rate of new block generation, the total limit of 100 million GAS will be achieved in about 22 years. The interval between each block is about 15-20 seconds, and 2 million blocks are generated in about one year.
Each year around 2 million blocks will be generated and the initial generation will be 8 GAS per block. There will be an annual reduction of 1 GAS per block, per year, to coincide with the passing of every 2 million blocks. The reduction will continue down to just 1 GAS per block and will be held at that rate for around 22 years. After the 44 millionth block the total GAS generated will have reached 100 million and from this point there will be no further generation of GAS from new blocks.
According to this release curve, 16% of the GAS will be created in the first year, 52% of the GAS will be created in the first four years, and 80% of the GAS will be created in the first 12 years. These GAS will be distributed proportionally in accordance with the NEO holding ratio, recorded in the corresponding addresses. NEO holders can initiate a claim transaction at any time and claim these GAS tokens at their holding addresses.
Creators / Founders
Da Hongfei, founder of NEO
After announcing NEO’s new brand and strategy, Da Hongfei elaborated on the future of blockchain technology, where every asset will be digitised and programmable with smart contracts. Calling for the transparency and openness of data, he introduced concepts of the “Smart Economy” and new smart contract system and announced that he is building a new multi-chain protocol for interoperability.
Core Development Team
See NEO’s website for supporting team.
NA (See Neo)
Trade Crypto Live Sentiment
GAS allows NEO to move between wallets and exchanges. It hinges heavily on the success NEO. With that said, NEO is a leader in the cryptocurrency market as a whole and GAS is also a reward for holding NEO. GAS is along for the ride.
Reference & Links