Cryptocurrency What Is Gas

Cryptocurrency what is gas

NEOtoGAS has been brought to life by N1njaWTF.

What is "GAS"in Cryptocurrency? (EXPLAINED!!)

The aim of this NEO Community website is to provide an easy & simple to use NEO GAS Calculator, the actual NEO & GAS Market Price & other useful things. You can also check your NEO Balance, your NEOGAS balance & the unclaimed NEOGAS you currently got.

Cryptocurrency what is gas

I think the site is also great for new people that are interested in the NEO Blockchain, Cryptocurrency and its Community.

How does GAS get generated

With every new block being generated, it will distribute 8 GAS for all 100,000,000 NEO. These 8 GAS will then get divided and sent out to the NEO holders with every new block.

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That means, the GAS generation per day depends on the actual block generation rate, because GAS is being distributed when a new block gets generated.

As you may have noticed, the GAS reward calculator shows 2 values.

Below you can see what's the difference between the Actual & Theory calculation.

Theory Calculation

The Theory Calculation, shows your GAS Rewards based on the whitepaper released from NEO.

Cryptocurrency what is gas

In the whitepaper the GAS Reward is based on a 15 seconds block generation rate. You can check out the Whitepaper here.

Actual Calculation

The Actual Calculation, shows your GAS Rewards based on the actual block generation rate, which is typically a bit lower than in theory.

Cryptocurrency what is gas

The actual block generation rate can vary and depends on the nodes & network. That's why the actual GAS Reward is a bit lower than in Theory.

Cryptocurrency what is gas