About Gas Token
Every transaction on the basis of the Ethereum Virtual Machine requires different amounts of Gas. We can metaphorically compare this process to a car ride. It takes little fuel to get to the nearest shopping mall, but to travel to another city, you need much more fuel. This is almost the same how gas is used for in the context of smart contracts and cryptocurrency in general. Gas Ethereum was introduced to reduce the cost of transactions on the mentioned blockchain. The NEO network allows miners to earn Gas cryptocurrency for carrying out transactions by generating new blocks. If you are interested in earning this cryptocurrency on the Ethereum blockchain, note that the amount of Gas is limited to 100 million coins. On P2B you can monitor current changes in Gas price, buy and sell coins.
Benefits of Gas
Brief History of Gas Ethereum
The project called Antshares was started in China in the summer of 2014. The initial coin offering was held the following year, in October 2015. The project was growing rapidly and by 2016 the smart contract based platform had entered the TOP 10 largest Chinese companies. That year one more important event took place: its own cryptocurrency was introduced, which was meant as a direct competitor to Ether. For a while, the Antshares cryptocurrency was traded only in the internal Chinese market and was unavailable to general public. The NEO and Gas names were the results of the rebranding in 2017. Then the cost of Gas based on the Ethereum blockchain increased sevenfold (from $1 to $7). After 700% increase, Gas price rapidly dropped, but the final cost became higher than the initial one and found support at the level of $4,50. There were some episodes in the history of the coin, when Gas price reached $57 and even $196, but currently Gas cost has been stabilized.
Prospects of Gas
Gas Ethereum is interesting for investors due to many ICOs conducted on the platform and some other features described in this text. Crypto experts believe that Gas has quite considerable chances for further growth. This cryptocurrency on the Ethereum Virtual Machine may become ‘the new Ethereum' in the nearest future far beyond China. This means that the Gas price will considerably rise.
The Bitcoin platform is gradually losing its authority, and people from all over the globe are becoming more interested in the Ethereum Virtual Machine, since Ether allows the use of smart contracts. Thus, all Ethereum based cryptocurrencies (not only Ether) are potentially more successful.
How To Earn Gas
There are two common ways to earn Gas Ethereum: to buy the coins using one of popular exchanges or to get NEO cryptocurrency for keeping it in your personal wallet balance. This is a kind of deposit, the interest on which will be paid to you in the form of Gas. Note that classic mining of Gas cryptocurrency is unavailable to miners.
Each new block in the NEO blockchain distributes 8 Gas coins for transactions, which are sent to the wallets of NEO holders in proportion to the amount of the cryptocurrency. You can easily calculate the amount of Gas you are going to receive on the NEO website. But the easiest way to earn Gas is visiting such exchanges, as Poloniex, Binance, KuCoin, HitBTC, Coinnest, Cryptopia, or P2B. In most cases, this cryptocurrency can be traded together with BTC.
Why P2B Exchange?
P2B is an advanced exchange with a user-friendly interface. You won't get confused by plenty of data, charts, and tables, as is typical for most cryptocurrency exchanges. We created a website where everything is crystal clear at first glance.
You are welcome to check current Gas price in real time and participate in carrying out transactions with the Ether's competitor on P2B.
But besides an intuitive interface, a wide range of trading pairs, and high transaction speed, we have an interesting gamified referral program. We organize cool games with great prize pools. For example, the winner of the October global game (2020) received $10,000.
Join P2B, invite at least 10 friends, and become the next winner!