This discussion is created with the intention of sharing possibility of passive income as generated from storing NEO in your wallet. And the lowest amount needed to start is 1 to make that happen :). It can be claimed every 5 min but I noticed it to work only when the GAS claimable was above 0.001
Official website: https://neo.org/
Ranked 11th on https://coinmarketcap.com/currencies/neo/
Status as on 25-May-2018, 02:00 hrs (UTC 0)
NEO (formerly known as Antshares) was founded in 2014 and was real-time open source on GitHub in June 2015.
NEO is the first decentralized, open-source cryptocurrency and blockchain platform launched in China.
NEO has two crypto tokens:
NEO – formerly known as Antshares (ANS).
GAS – formerly known as Antcoins (ANC).
The base asset of the NEO blockchain is the non divisible NEO token which generates GAS tokens that can be used to pay for transaction fees generated by applications on the network.
The NEO token acts as the investment token of the NEO blockchain. It has a hard cap total of 100 million tokens which will be used in block creation, network management, network changes, and other consensus requirements. These 100 million tokens were all pre-mined during the genesis block creation.
One unique thing to note is that NEO is unlike other cryptocurrencies in the fact that it is not divisible; the smallest unit will always be 1.
The GAS token also has a 100 million hard cap, but it acts as the fuel for the NEO blockchain. Unlike the NEO token, GAS is divisible by a factor of 1/108, and it was not pre-mined. 100 million GAS tokens will ultimately be generated through a decay algorithm in about 22 years.
GAS will be used for resource allocation and network charges for operations such as running DApps, smart contracts, and providing incentives for maintaining the blockchain.
Consensus
NEO uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism and can support up to 10,000 transactions per second.To achieve consensus, book keeping nodes are randomly selected to validate transactions on the network based overlapping networks of trust in a manner most similar to Hyperledger Fabric and Stellar which employ subtlety different implementations to solve for the Byzantine General's problem. Systems employing dBFT for consensus cannot hard fork into two separate chains as the mechanism relies on 2/3 majority rule to operate.
Features
The core of the NEO feature set revolves around tools that allow developers to efficiently deploy and scale smart contract applications on the NEO blockchain.
NEP5 Communications Standard - the NEP5 gives developers a standardized workflow and template to build decentralized applications. All tokens using the NEP5 standard are automatically able to transact with any other token using the NEP5 standard which allows for applications such as decentralized exchanges and other more advanced cross token communication.
X.509 Digital Identities allow developers to tie tokens to real world identities which aids in complying with KYC/AML and other regulatory requirements
NeoX – A cross chain protocol that will allow NEO tokens to communicate with tokens on other blockchains.
NeoFS – A decentralized file sharing service based on the InterPlanetary File System.
NeoQ – A lattice-based cryptographic mechanism which creates problems that cannot be solved by quantum computers and ensuring being quantum-proof
You can find the amount of GAS generated from 1 NEO per day at https://neotogas.com/
Gas for passive income. Just another reason to love NEO.
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