How NEO & GAS Work Together
Steem is my favorite coin but I really like NEO as well. When you hold NEO in your NEO wallet, it produces another cryptocurrency called GAS. You receive GAS as proof of stake for holding NEO. This is a great way to build more wealth in your crypto portfolio while not having to much of anything. Once 100 million GAS has been produced, that will be it for obtaining more unless you hit the market and trade for some.
The word NEO comes from the Greek meaning new, young, youthful, fresh. NEO has been dubbed as the Ethereum of China because of its smart economy. One of the reasons I believe NEO will pass Ethereum is because it supports many codes such as C#, Java, Python, and more while Ethereum only supports its own language, called Solidity, which will require a developer to learn the language before ever developing anything.
One of the cons that causes people to raise a brow or two is that NEO is 100% pre-mined. NEO distributed half of their coins, 50 million, through crowdfunding and the other half were given to developers, council members, and investment for projects. Because of the way this was done, the distribution of the coins were highly centralized.
Nevertheless I still believe this is a great coin to have in your portfolio because I can see this coin have real world applications in the near future. There is much more to learn about this coin so suggest you do your own due diligence and educate yourself. You can start by reading the CoinCentral article below.Check out my video where I review the wallet and show you how to earn GAS
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Till next time Steemians...Steem On!!
good write up. NEO is a coin i've held for a little while without knowing too much about it. I find it strange that it doesn't allow coins to be divided. ie. you have to hold and transact a whole NEO.
in my opinion this takes away from it's functionality, because when the price hit $190 a few months back (at least in AUD), I couldn't really use it unless I sold a whole coin..
so what happens if the price hits $1000? or $5000? you're stuck with whole coins that can't be divided?
I'm a NEO HODLer but I agree with what you said. It doesn't make sense that it isn't divisible and like you said when the price gets up higher it will be an issue because it will keep a lot of people out of the market.
I almost feel like they will have to do a hard fork to correct the situation in the future.
That you for that! I totally forgot to mention that you have to hold a whole coin! Good points there.
Neo is one of my favorite coins. I am happy that I invested in neo when it $20 to $25 usd per coin. It’s best feature is off course GAS :)
idk if my computer is capable of storing crypto like neo. any other crypto that you can get by investing time like steem and lbry coins?
Yes and I still have to make the videos for those!
awesome! can't wait!!
This is one of the reasons why people should be part of a dynamic community such as the Steemians because of the people who posts really good-to-read articles. It also pays to be patient to read such posts. Kudos to you sir for sharing this info with us. It really is a great help. Until next time.
No problem at all. My passion is in helping others!
That's awesome! ♥
So mining neo isnt an option i take it...
Naw...but I believe it is still a good coin to have in the portfolio. You get GAS just for holding it
The critics bring up very valid points, but I will start following and researching NEO. Thanks!
Yes I agree with the critics but I believe this coin will be HUGE in the future!!
Looks like some buying opportunities are coming up.
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I love NEO and I am hold this coin for long term
Really, learnt too much. Love it.
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