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NEO(was AntShares) is the use of blockchain technology and digital identity to digitize assets, the use of smart contracts for digital assets to be self-managed, to achieve "smart economy" with a distributed network.
Economic Model NEO has two native tokens, NEO (abbreviated symbol NEO) and NeoGas (abbreviated symbol GAS). NEO, with a total of 100 million tokens, represents the right to manage the network. Management rights include voting for bookkeeping, NEO network parameter changes, and so on. The minimum unit of NEO is 1 and tokens cannot be subdivided. GAS is the fuel token for the realization of NEO network resource control, with a maximum total limit of 100 million. The NEO network charges for the operation and storage of tokens and smart contracts, thereby creating economic incentives for bookkeepers and preventing the abuse of resources. The minimum unit of GAS is 0.00000001. In the creation block of the NEO network, 100 million NEOs are generated, GAS has not yet been generated. 100 million GAS, corresponding to the 100 million NEO, will be generated through a decay algorithm in about 22 years time to address holding NEO. If NEO is transferred to a new address, the subsequent GAS generated will be credited to the new address. The NEO network will set a threshold by voting to exempt GAS from a certain amount of transfer transactions and smart contract operations to enhance the user experience. When a large amount of spam transactions occur, NeoID can be used to prioritize transactions and smart contracts with qualified identities. Transactions and smart contracts with no qualifying digital identities can get priority by paying GAS. GAS distribution
GAS is generated with each new block. The initial total amount of GAS is zero. With the increasing rate of new block generation, the total limit of 100 million GAS will be achieved in about 22 years. The interval between each block is about 15-20 seconds, and 2 million blocks are generated in about one year.
Each year around 2 million blocks will be generated and the initial generation will be 8 GAS per block. There will be an annual reduction of 1 GAS per block, per year, to coincide with the passing of every 2 million blocks. The reduction will continue down to just 1 GAS per block and will be held at that rate for around 22 years. After the 44 millionth block the total GAS generated will have reached 100 million and from this point there will be no further generation of GAS from new blocks.
According to this release curve, 16% of the GAS will be created in the first year, 52% of the GAS will be created in the first four years, and 80% of the GAS will be created in the first 12 years. These GAS will be distributed proportionally in accordance with the NEO holding ratio, recorded in the corresponding addresses. NEO holders can initiate a claim transaction at any time and claim these GAS tokens at their holding addresses.
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Our fees depends on the exchange you select for your transaction. The conversion rate you see is inclusive of the fees.
Note: Below fees does not include any amount charged by the exchange itself.
A memo is a combination of digits and letters required to assign STEEM to a certain Steem wallet user. Memos are used in Steem wallets and indicated right here.
In the wallet, a memo should look like this
If you want to buy Steems, make sure that you've specified a correct memo while putting in a wallet address.
Note that you have a nickname on steemit.com, you may use it as your wallet address that doesn't require a memo.
A destination tag is a short complementary combination of characters required for certain Ripple wallets. While buying Ripple, make sure that you have specified a destination tag if required. Likewise, when you send us Ripples, don't forget about a destination tag provided near the address to send to.
The message is an additional tag required for XEM transaction. Whenever you send or receive XEM, make sure that you've input a message. You may find it in your wallet, and it should look like this.
For all the coins available on CoinSwitch, the buying process is same.
CoinSwitch doesn’t have amount restrictions. However, there are some nuances.
If an amount is too low, make sure that it will cover all the network fees a blockchain takes. It means that the amount you are going to send and the amount you are going to get should be enough to cover input and output network fees taken by a blockchain.
If your funds to be exchanged are insufficient, you will see a message.
Please stick with this recommendations. Otherwise, there is a high risk that your money will be lost.
Some exchanges provide a max limit as well.
As a rule, our transaction takes 15-30 minutes to be processed. If your transaction takes longer, this might be due to a wide range of factors.
This might be due to several reasons.
If you have transferred the amount, then you can surely close the browser tab. Our system will automatically complete the transaction, and the amount will be deposited into your recipient wallet address. Just keep the the order-id with you for any follow ups.
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