What is GAS (GAS)?
GAS is a cryptocurrency used to complete transactions on the NEO blockchain. When you hold NEO in your cryptocurrency wallet, you’ll also be rewarded with GAS generated by the construction of the blockchain.
If you’re interested in buying GAS, it’s important to first understand how it works, how it ties into the NEO ecosystem, and how you can buy GAS in India. Buy Gas (GAS) India – BuyBitcoin.
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Key things to consider if you’re thinking about buying GAS
All cryptocurrencies are complicated and speculative, so you’ll need to thoroughly assess all the potential risks involved in holding any cryptos before you actually make a purchase. If you’re thinking of buying GAS, make sure you consider the following factors first:
- Supply. The maximum supply of GAS is capped at 100,000,000 tokens. According to CoinMarketCap, at the time of writing (24/01/2018) there was a circulating supply of 9,570,522 GAS, out of a total supply of 14,788,456 GAS.
- Limited GAS available. It’s anticipated that the maximum supply of GAS in circulation will reach the 100,000,000 limit around the year 2039, so the limited supply of coins could potentially increase demand.
- Use. GAS powers the NEO blockchain network and is used to perform transactions on the ecosystem. It is also offered as a reward to NEO holders – with every new block generated, 8 GAS are distributed for all 100,000,000 NEO.
- The NEO ecosystem. The value of GAS is closely linked to the success and adoption of the NEO ecosystem. With this in mind, it’s important that you understand how NEO works to determine its potential real-world applications and growth.
- Advantages of being based in China. With the world’s largest economy and a population of more than 1.4 billion people, China offers huge potential for companies developing blockchain technology. NEO’s Shanghai location means it is well placed to take advantage of opportunities and position itself to comply with any government regulations.
- Disadvantages of being based in China. However, the Chinese Government has launched a number of well-publicized crackdowns on cryptocurrency trading, so it’s essential to be aware of the impact that regulatory oversight could have on the profitability of GAS.
- Market competition. Finally, remember to consider the competition NEO faces from other companies that offer similar products and services. For example, Ethereum and EOS are two other cryptos you may wish to research further.
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NEO has positioned itself as a strong contender for Ethereum in smart contracts. NEO’s focus on assets, identity, and future features also set it apart from Ethereum. It’s clear that NEO is one of the most important projects we’ve seen come out of China. It’s future as a company is bright.
The GAS token is less an investment opportunity and more an operational token. However, the value of GAS will likely increase along with NEO’s popularity. One option for investors excited about NEO is to purchase the NEO token. Then, you’ll automatically earn GAS with every newly completed block, increasing your dividends. The NEO token will also appreciate as the platform grows in popularity, creating a win-win.
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