What is NEO?
The primary objective of the NEO network is to become the digital alternative to transfer assets that are not digital. The system makes use of two different tokens, the first is also known as NEO, and the second is called GAS. They have 1100 million supplies each. Both of these tokens have distinctive use on the NEO platform and function differently.
NEO tokens embody the possession of the NEO blockchain. It is used to develop blocks and run the network. When you have NEO in your wallet, you will be given GAS tokens.
GAS tokens on their own give you the liberty to access the NEO blockchain. GAS is the stimulus that energizes transactions in the NEOnetwork.
The primary aim of this network is to become the major distribution network for the Smart Economy of crypto.
This network clearly states regarding its prime objectives as Digital Assets + Digital Identity + Smart Contract = Smart Economy.
Shanghai blockchain and R&D company OnChain is the central backbone of the NEO network. Its funding come from two crowd sales, and they are
- In October 2015, 17.5 million GAS tokens for sold for $550,000, and
- OnChain company sold the remaining 22.5 million GAS tokens for $4.5 million in the other crowd sale.
Markets for GAS tokens
The GAS coins is an incredibly famous cryptocurrency entity in this industry. As a result the popularity of GAS tokens are rising day by day. There are majority of coin holders that are dealing in GAS token on various famous exchanges. Moreover as this GAS token is incredibly famous there are various famous exchanges that are dealing in this cryptocurrency. Some of these popular exchanges are eToroX, Crypto.com, Bitfinex, Bitcoin.com and many. In case you want to pair your GAS token with other cryptocurrencies as well then you can check about the other profitable crypto coin here.