As many know, “Gas” is required to get a transaction done in Ethereum Network or in the Bitcoin Blockchain Network Mining fees do. But, now the hype taking cryptocurrency formerly known as Antshares – NEO includes its native asset named GAS (formerly known as Antcoin).
The Differences that Takes Them Apart: GAS or Gas
For Just-introduced to cryptocurrency users, Antshares was more understandable. There is Antshares that made it possible to gather Antcoin or ANC. With being for famous, the ANC worthiness should have been increased. On top of that transaction fees gathering was able because of Antshares using ANC and fiat currency. Fees Changing was possible for Antcoin owners with the right to vote.
The attraction found for Antshares was hoisted by the two built in Antshares assets as all ANS later could be used for bookkeeping, generating ANC, elections and so on by the ownership. To use ANS network, extra features or pay systemic fees – ANCs were needed.
After AntShares (“The Chinese Ethereum”) rebranded to NEO it became more complicated. AnShares or ANS turned into NEO and the Antcoins into GAS so that is where the confusion starts while marketing was done greatly. Ethereum blockchain network uses gas as mentioned above, NEO has GAS that got its own different price and value from the currency.
In a very similar way how the Bitcoin network works, in ETH network – for a transaction fee gas is used and it still represents Ether value as people spend ETH to transact in Ether. But in the other hand, anybody that deals with NEO, GAS is used to do the transaction. Most people all the time take notes at NEO’s price but the value of GAS is reaching NEO. NEO is traded at $40.47 for the moment with a supply of 50 million while GAS with a price of $23.29 and there are 8.240.123 circulating.
It truly is a very iinteresting project which has more value attached that what most think. As such, it is of the utmost importance to distinguish between Ethereum’s gas and NEO’s GAS. They are completely different things.