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What are the differences between GAS and NEO in the cryptocurrency market?

avatarHANIS KHAIRINA MUHAMMAD RUSDANNov 23, 2021 · 3 years ago1 answers

Can you explain the key differences between GAS and NEO in the cryptocurrency market? How do they differ in terms of functionality, purpose, and value?

What are the differences between GAS and NEO in the cryptocurrency market?
Cryptocurrency
GAS
NEO

1 answers

  • avatarNov 23, 2021 · 3 years ago
    GAS and NEO are two cryptocurrencies that are closely related within the NEO ecosystem. NEO is the main cryptocurrency and represents ownership of the NEO blockchain, while GAS is used as fuel to power the network. The main difference between GAS and NEO is that NEO is a tradable asset with its own value, while GAS is used for transaction fees and as a reward for holding NEO. GAS is generated by holding NEO in a wallet, and the amount of GAS generated depends on the amount of NEO held. This creates an incentive for NEO holders to keep their tokens and participate in the network. In summary, GAS and NEO have different functions within the NEO ecosystem, with NEO being the main cryptocurrency and GAS being used for transaction fees and as a reward for holding NEO.

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