ALL YOU NEED TO KNOW ABOUT NEO (The Keycom Daily Summarized View on Cryptocurrencies)
NEO is often nick named as the Chinese Ethereum and interesting enough, it is backed by the Chinese Government
NEO uses GAS in its blockchain and this is one of the distinguishing characteristics from the other Cryptocurrencies
GAS is the fuel that keeps the NEO’s smart economy in motion
In the NEO’s economy, shares and dividends are being issued out; About 100 million shares of NEO was issued in its blockchain
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NEO is closer to being a security than a cryptocurrency because it works on a shared-based system
The GAS earned from owning NEO keeps decreasing on a yearly basis till about 20 years from now
In the NEO economy, various users that perform different tasks will be paid in GAS
Similar to what is obtainable in Ethereum, the NEO blockchain system also allows Smart contract to be built on it
Smart contracts built on the NEO blockchain are written on a common programming language known as C# and Java unlike Ethereum which is written on a much more complex programming language
NEO is presently among the 10 leading Cryptocurrencies by market capitalization according to coinmarketcap.com
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giving nice info..me likey.and really that GAS is the best thing in NEO
i following you.plz follow me if you like also my blog..
Thanks @zeshanjaved. Really appreciate. I just gave you a follow
your welcome @keycom and thanks for following me.
Thanks for the info! How are the gas dividends divied up or calculated? I understand with traditional stock market, stocks that offer dividends indicate the amount of the dividend as a percentage of the share price. Does NEO have a centralized figure who decides on the dividend? or is it built in to the protocol? sorry i'm really new, and this is still hard to wrap my head around.
Is NEO a cryptocurrency that is mined? If so, do you have to mine it to get paid in GAS? Or would I earn GAS if I just traded for NEO on an exchange like binance or bittrex? I noticed NEOs price seems to grow consistently higher, and I don't know if that's because of the GAS payments or just market sentiment?
Thank you for your response @jjampol There are usually 2 different types of Dividend employed in the calculation. The Theory Calculation and the Actual calculation of dividend. Its calculated based on the data obtained from block generation rate and the current rate of GAS. I usually use this website (www.neotogas.com) for a quick calculation and you may also want to check it out.
NEO is decentralized like Bitcoin but unlike Bitcoin, it cannot be mined. Also, NEO is not a distributed network. Unlike Bitcoin and Ethereum that use proof-of-work in order for miners to earn, the NEO network uses what is known as a proof-of-stake which means that a bookkeeper (which is the term used for someone who verifies a block on the NEO blockchain) only earns based on the amount of stake he has in the network. It has been shown that this is more efficient and Ethereum is planning to switch to this system of verification at some point. I just gave you a follow so you can engage me (and i will do the same) on my future posts. Thanks a bunch