GAS is a cryptocurrency. And it is part of the NEO blockchain platform. The other cryptocurrency of the platform is NEO token.
In the NEO ecosystem, the transactions fees must be paid in GAS. Thus GAS has become an essential part of the NEO platform. However, holding NEO tokens gives right to shares on the platform and gives rights to dividends in the form of GAS.
All the NEO tokens are pre-mined. And 50 million of those tokens are sold in the Initial Coin Offering (ICO). And another 50 million tokens are vested for one year. The vesting period will end in October 2018. In addition, NEO can’t be divided into subparts, like you with BTC (0.02 BTC, etc.)
Whereas, GAS is minted as a reward whenever a new block is created. And the block reward, in the beginning, was eight newly minted GAS tokens plus the transaction fees associated. For every 2 million blocks generated, the freshly minted GAS with each block gets reduced by one token.
Around 2039, the GAS supply will reach its supply limit of 100 million tokens. And no new tokens will be generated.
That’s being said, let’s dive into Gas Coin Price Prediction…
Gas Coin Price Prediction
According to CoinMarketCap, the circulating supply of GAS is above 10 million tokens. And it is priced at $6.11 USD at the time of writing.
Since Gas is a vital part of the NEO blockchain, it can feel that the best choice is to buy and keep. While that is a good strategy, you have to keep in mind the deflation factor: with every new block, a new Gas coin comes into circulation.
It is better to keep an eye on the GAS price and to buy at the lows.
For 2019, the Gas price at some point will touch $13.69 USD. But the Gas price will not go beyond $15 USD.
If things get worse for the crypto-market, or if NEO platform can’t prove itself of what it promises as a blockchain platform, the Gas price can even dip lower than $2.45 USD.
Disclaimer: Cryptocurrency invest is highly risky. And you should proceed with caution. You should take help from a financial advisor, if necessary. Opinions expressed here solely belongs to the Author and they do not necessarily reflect the views of eCoin4Dummies.Com.