Gas owes its genesis to the ever increasing need of enhancing enhance availability of block-chain technology to a larger number of individuals. It is also associated closely with Neo, which is extensively used for honoring as well as establishing the digital contracts. It is for the same reason that Gas is also sometimes referred to as NEO Gas. In fact, Gas is designed to exercise control over the rights of managing NEO network that offers two separate tokens. One refers to the main NEO cryptocurrency while the other bears the name of NEO Gas and is commonly symbolized as Gas. Both NEO Gas and Gas Cryptocurrencies are supposed to have an upper limit of tokens which is fixed at hundred million each.
As mentioned earlier, one of the main objectives of designing Gas cryptocurrency is to establish control over management rights of the NEO tokens that cover book-keeping votes and alterations in network parameters to name a few. Although the actual process of mining Gas coins is yet to begin, one can follow the same method of mining other types of Cryptocurrencies. However, a more gratifying way to earn Gas coins is to purchase it through trading exchanges that deal in Gas coins.
Another way to earn Gas coin is by holding shares in NEO network. Book-keeping is an essential aspect of managing smart contracts. Individuals who facilitate book keeping and transaction verification processes by complying with parameters of blockchain technology are paid their incentives in the form of Gas coins rather than NEO cryptocurrency. Basic purpose of incentivizing people through Gas coins instead of the original NEO cryptocurrency is to prevent Gas coin’s runway rally apart from saving resources from getting abused.
It proposed that in the next two decades or twenty-two years to be precise, a total of hundred million GAS could be created that is similar to the value of equal number of NEO coins. Transfer of a given number of Gas coins would result in transfer of same quantity of NEO. Gas coin has current market capitalization of 82.18 million approximately. Every Gas has a value of $28.07 which has witnessed an appreciation from $1.70 in the span of three months.
Gas cryptocurrency can be sold or bought on binance exchange that also allows seven more types of different Cryptocurrencies. It not only offers an intuitive way of exchanging Cryptocurrencies but also supports real-time trading. As far as storage of Gas coins is concerned, users can leverage NEO wallet.
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