GAS production will decrease by 1 ticket for every 2 million blocks produced until all tokens have been produced around 2046. GAS is created every time a new NEO block is added to the NEO blockchain (currently 5 tokens per block). The NEO network charges GAS as a service charge for the use of the blockchain (just like Ethereum). NEO holders get the right to vote in the NEO ecosystem and the right to receive dividends in the form of GAS. NEO’s long-term vision is to fully engage in commerce by integrating the traditional and digital economies with what is known as a smart economy. This new vision makes AntShares the first open-source blockchain technology in China. It was created on the chain as a way to combine smart contracts, digital identity systems, and digital asset exchange. In some communities, NEO is also referred to as the Chinese assassins Ethereum and Ethereum. NEO, formerly known as Antshares, is the first cryptocurrency that opened in China in 2014. The next significant feature of the blockchain is the variation between NEO and GAS tokens. NEO will use a new type of digital identity protocol to expand its electronic identity capabilities. This is a significant feature of the NEO blockchain.
NEO’s vision is to connect digital identities with real identities. The NEO blockchain consists of three main elements: , for instance, is a travel platform that uses NEO to keep track of reservations and accept cryptocurrency payments. NEO was founded in China in 2013 and uses a token economy identical to Ethereum, earning it the moniker “Chinese Ethereum.” Using smart contracts, NEO aims to be a digital, decentralized, and distributed network for non-digital resources, effectively transferring the operations of the dairy market to the NEO blockchain. The system makes use of two separate tokens: NEO for transfers and GAS for transaction fees. NEO is a blockchain and smart contract system that is trying to bridge the digital and conventional asset gap through the development of a smarter ecosystem.
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