Review on Gas by francis fernandez
GAS: a token that monetizes the fees of the services provided by the NEO chain
GAS is a digital asset that operates on the NEO blockchain to serve as a driving force in the execution of transactions on the platform, monetizing the fees for the use of the NEO network.
Token:
The GAS token is the fuel that enables the NEO blockchain to operate.
The cryptocurrency has a maximum supply of 100,000,000 GAS. One of its particular characteristics is its divisibility.
GAS is the digital currency used by the users of the NEO network to pay fees for transactions carried out, for the storage service of digital assets and for the use of smart contracts.
These payments are known as subscription fees or registration fees. In this sense, GAS tokens are generated each time a transaction validation occurs and a new block is created in the NEO network.
Token utility:
• Payment of services used in the NEO blockchain.
• It allows to recycle digital currencies in return to the NEO network and generate profits.
• Allows you to exchange the GAS token for NEO to generate a greater amount of GAS in their wallet.
Technology:
The GAS platform employs a technology based on the delegated Byzantine fault tolerance algorithm. This mechanism provides scalability, reduces resource consumption, and is secure. It also provides speed in the processing of transactions.
The validation of the blocks in the NEO network is the responsibility of the users selected by the NEO holders, also called accountants.
The identification of the holders of network servers (nodes) is done through the use of the mechanism of digital identities. This allows validators to be recognized by name.
Pros
- It is a profitable tool to generate resources by maintaining the NEO platform
- It is a digital asset exchangeable for NEO and then for other cryptocurrencies on the market.
- It allows to identify the node owners through the digital identity system
- It is a digital asset that generates passive income.
Cons
- The cryptocurrency has a value subject to market volatility.
