How is Neo Gas generated?
Recently our subscribers have expressed their interest to learn more about Neo Gas generated from Neo cryptocurrency and we will now attempt to explain this in the most effective manner.
Before that here is a brief background on Neo. Neo (formerly known as Antshares) is China’s first ever original and open source public chain project, NEO serves as a smart asset platform. Smart assets are the combination of a smart contract of blockchain and digital assets.
Considering the reluctance of China to accept the dominance of foreign companies (eg Google, Facebook, Amazon, Uber etc), we consider the same trend to repeat when it comes to cryptocurrencies. We expect China to put considerable weight behind the promotion of Neo in order keep foreign cryptocurrencies such as Bitcoin, Ethereum etc on the back foot at least in their own backyard.
Now, considering the population of China and those many Chinese citizens accepting their own China based cryptocurrency – Neo, based on this reasoning and consideration, we see growing demand and rise in the value of Neo over the medium term period.
Coming back to our main subject – Neo Gas, it is similar to dividend credit to a shareholder of a company, Gas is credited to the wallet of Neo investors and the amount of Gas generated is based on a fixed formulae.
Neo Gas generated can be calculated on www.neotogas.com.
Neo investors can sell their Gas on an exchange or preferably hold it as an investment, as rising demand for Neo along with a finite quantity of Gas available may result in the value of Neo Gas to increase.
It must be noted that Gas will be generated only if Neo is stored on a private wallet and not on exchanges.
In case readers require any specific information on this topic, kindly feel free to post your comments and get in touch with us.