What is Neo (NEO & GAS)?

his blockchain is known as the “Chinese Ethereum” but could potentially be better. Let me introduce you to Neo Blockchain, the all-in-one network that first launched in 2014 when it was originally known as Antshares.

Neo Blockchain is a community-powered blockchain that runs on the delegated Byzantine Fault Tolerance (dBFT) consensus mechanism. There is nothing you can not do or build on the Neo Blockchain, they have truly created the “Internet of Everything”.

It was built with the sole purpose of fulfilling the needs of every user in a decentralised and regulatory-compliant manner. Every user on the blockchain must have a verified digital identity, known as NeoID. By the way, it’s great to mention that this is a decentralised identity!

‍

Neo Blockchain Solutions

Other than NeoID, here are some other key solutions home to the Neo Blockchain:

‍

Smart Contracts

Neo is one of the most dev-friendly blockchains as it can create and launch smart contracts using a variety of coding languages.

Oracles

Neo’s native Oracle allows smart contracts/dApps to retrieve data from real-world external sources!

NeoFS

A decentralised Storage network that gives devs a cheaper alternative to centralised digital storage and NeoFS users have complete control over their data.

Neo Name Service

A decentralised name service that allows you to choose your own NEO name, e.g. JohnDoe .neo.

There are more solutions to cover, but these stood out the most. For those wondering, Neo is interoperable with Bitcoin, Ethereum and many other major blockchains.

Neo Ecosystem

Unlike other blockchains, the Neo Blockchain has both Apps and dApps within the ecosystem. Let us pick a few out:

‍

Neo Apps Ecosystem

While there aren’t many apps at the moment, the ones that are available are proven useful:

GasBot

A Discord bot with many cool features. Crypto and Discord are a couple made in heaven. Almost 99% of crypto protocols have a Discord server and almost 100% of them use Discord bots!

GasBot Website

NeoChat

Don’t like WhatsApp? No worries, NeoChat has you covered! Connect your Neo wallet and perform instant messages with 100% privacy!

NeoChat Website

There are more Apps to go through but Neo’s ecosystem of dApps is where things get exciting. Whether you’re looking for NFTs, games, borrowing & lending or even just a DEX, Neo has it all.

Neo dApps Ecosystem

We will be going through decentralised exchanges at the end of this article. These are alternative DeFi applications:

PolyNetwork

Designed to connect multiple blockchains. Building the next-gen internet. Any blockchain can connect and communicate with any compatible blockchain! -

PolyNetwork Website

ToTheMoon

A strategic building NFT metaverse! Believe it or not, ToTheMoon won the Neo Frontier Launchpad “Excellence” Award!

ToTheMoon Website

GhostMarket

Neo’s cross-chain NFT marketplace, GhostMarket is compatible with the BNB Chain, Polygon, Avalanche, Ethereum and other major networks!

GhostMarket Website

Whether you need to find a wallet, NFT marketplace, games or DeFi protocols of any kind, then Neo’s ecosystem is home to it all!

At the moment, over 2 million transactions have been facilitated within the Neo ecosystem, with over 176 different tokens and over 77,600 users!

Morpheus was right. NEO is the one.

Come and check out the Neo Ecosystem!

NEO & GAS Tokens

The Neo Blockchain was the first to introduce a Dual Token Economy.

NEO is the Governance token of the entire network. Users who stake NEO can create or vote on proposals and will also be rewarded with GAS tokens.

‍

GAS explains itself. It is simply the Gas token of the network, that is used to pay for the storage of assets and smart contracts. They created two tokens to separate the rights from Governance and the rights of using the network.

At the time of writing, the NEO token is priced at $6.82 with a market cap of over $481M+. NEO once reached an ATH of just under $197 and had a market cap of over $9.9B! The Neo Blockchain will thrive in the next bull run, especially now that China is Web3 friendly.

GAS on the other hand has a current price of $2.32 and a market cap of $23.5M+ which is relatively small compared to its counterpart. The GAS token has seen an ATH of $97.49 when it had a market cap of just under $700M. Is GAS extremely undervalued?

How to Buy NEO & GAS

Both NEO & GAS are not yet available on Ethereum or any EVM-compatible networks. You can buy, swap and trade NEO or GAS on centralised exchanges and can also be held, bought or sold on decentralised exchanges within native NEO Wallets.

There are two main ways to buy NEO & GAS, but you will always go through a centralised exchange (CEX) or FIAT Off-Ramp. Here are the options:

Option 1- Centralised Exchange

Finding NEO on CEXs is easy, GAS is a bit harder but can be found on some CEXs! We recommend using one of these centralised exchanges when buying or trading the NEO and/or GAS tokens. Here is a list of CEXs with a few delicious promotions:

Binance - The most popular CEX in the world
ByBit - EARN UP TO $30K in DEPOSIT BONUSES
BitGet - Trade on BitGet and receive 0% Deposit Cashback + $5,000 DEPOSIT BONUSES
Coinbase - Spend $100 and Get $10 back!
Crypto.com - Official Fifa 2022 World Cup Sponsor

Option 2 - DeFi Wallet & Decentralised Exchange

To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor/Ledger):

NeoLine Wallet - The leading extension wallet within the ecosystem, that was built by the Neo Team!
Trezor

If you are buying NEO & GAS through your DeFi wallet, we have compiled a small list of Decentralised Exchanges (DEXs) for you to swap or trade assets that are available on the network.

Flamingo Finance - The leading DEX and full-stack DeFi protocol that has enabled cross-chain gateways, token swaps, perpetual trading and more!
Nash - A non-custodial exchange, fiat on and off-ramp, as well as merchant payment solutions and much more!

There are a few decentralised exchanges in the ecosystem, but these are the two most used and popular DEXs in the ecosystem.

Conclusion

Neo is a blockchain with great power and is praised for its decentralisation, scalability and innovation. As we near global crypto adoption, Neo will be a front-running blockchain amongst the finest we know as Bitcoin, Ethereum, Avalanche, Solana and so on.

As mentioned at the beginning, Neo is labelled the Chinese Ethereum and therefore could very well dominate the Asian market in the correct market conditions. For Neo to reach its maximum potential, it would make sense to target the Western side of the world, although its understandable that they want to start off close to home!