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Author Topic: | NEO Smart Economy⚡Now a Top 10 Cryptocurrency⚡| Official Thread |Updated Aug10  (Read 175235 times)
CryptoGorilla
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November 22, 2017, 03:22:57 AM
 #2161

That is some very interesting news! I'm a proud NEO hodler, and very sure the only way is up!!

what news you talking about?

LOL

Which tweet are you talking about?

The one about the NEO Devcon? The DEV competition hosted by NEO and Microsoft or the one about the NEX (Neo Exchange)?

Or the one from Malcolm?


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November 22, 2017, 03:45:02 AM
 #2162

What is the purpose of the gas incentive, how does that contribute to the smart contract system?
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November 22, 2017, 03:48:46 AM
 #2163

NEO seems good
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November 22, 2017, 06:18:57 AM
 #2164

That is some very interesting news! I'm a proud NEO hodler, and very sure the only way is up!!

what news you talking about?

LOL

Which tweet are you talking about?

The one about the NEO Devcon? The DEV competition hosted by NEO and Microsoft or the one about the NEX (Neo Exchange)?

Or the one from Malcolm?



NEO chart looks oversold here :-D buy/hodl weeee


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November 22, 2017, 06:28:54 AM
 #2165

What is the purpose of the gas incentive, how does that contribute to the smart contract system?

for you to earn gas, you need to keep your NEO on your wallet else you won't earn gas incentives. for you not to sell your NEO, hold it and earn gas - look at it that way. but they are not done yet, NEO is a platform, sooner there will be more blockchain projects involving NEO platform just like  ETH.

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November 22, 2017, 07:52:34 AM
 #2166

What is the purpose of the gas incentive, how does that contribute to the smart contract system?

Gas is roughly the equivalent of ETH in function, in that users use GAS to deploy and run smart contracts. NEO is equivalent to shares in a company, which explains why it isn't divisible; it has no 'smart contract' function of its own. Each NEO generates GAS at a declining rate over 22 years, ultimately resulting in a 1:1 ratio of GAS to NEO. After 22 years, no more 'new' GAS is created. As 'shareholders' in the NEO network, NEO holders will eventually also receive a reward, in re-distributed GAS, for transactions taking place on the NEO network. This feature is not yet implemented, but when it is, the amount of GAS they receive will be a function of 1) how many NEO they hold and 2) how many transactions are taking place on the network. In theory, if the NEO network is successful, these rewards will more than compensate for the declining generation of 'new' GAS over time. Thus, there is always an incentive to hold NEO and receive GAS dividends (again, assuming the network itself is successful).

So, you need GAS to deploy contracts. GAS is the utility token. But you need NEO to generate GAS in the first place, and to collect a portion of fees on the network.

As a separate matter, users will be able to run network bookkeeping nodes at a cost of 1000 GAS. In theory, these nodes can charge whatever fees they want for the service they provide, but of course network users will choose the cheapest option available. Thus, in practice, bookkeeping nodes will likely charge very little, or perhaps even nothing. There will be little financial incentive to run a bookkeeping node; those who run them will do so mostly for the benefit of the network (e.g., a bagholder might want to run a bookkeeping node to help ensure network health and protect their own investment).
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November 22, 2017, 08:13:58 AM
 #2167

What is the purpose of the gas incentive, how does that contribute to the smart contract system?

Gas is roughly the equivalent of ETH in function, in that users use GAS to deploy and run smart contracts. NEO is equivalent to shares in a company, which explains why it isn't divisible; it has no 'smart contract' function of its own. Each NEO generates GAS at a declining rate over 22 years, ultimately resulting in a 1:1 ratio of GAS to NEO. After 22 years, no more 'new' GAS is created. As 'shareholders' in the NEO network, NEO holders will eventually also receive a reward, in re-distributed GAS, for transactions taking place on the NEO network. This feature is not yet implemented, but when it is, the amount of GAS they receive will be a function of 1) how many NEO they hold and 2) how many transactions are taking place on the network. In theory, if the NEO network is successful, these rewards will more than compensate for the declining generation of 'new' GAS over time. Thus, there is always an incentive to hold NEO and receive GAS dividends (again, assuming the network itself is successful).

So, you need GAS to deploy contracts. GAS is the utility token. But you need NEO to generate GAS in the first place, and to collect a portion of fees on the network.

As a separate matter, users will be able to run network bookkeeping nodes at a cost of 1000 GAS. In theory, these nodes can charge whatever fees they want for the service they provide, but of course network users will choose the cheapest option available. Thus, in practice, bookkeeping nodes will likely charge very little, or perhaps even nothing. There will be little financial incentive to run a bookkeeping node; those who run them will do so mostly for the benefit of the network (e.g., a bagholder might want to run a bookkeeping node to help ensure network health and protect their own investment).
Thanks EleanorZ for your explanation, for me it was unclear what the benefit of holding NEO will be after all the GAS is generated, but implementing Fees on transactions and share them to the NEO holders makes sense.

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November 22, 2017, 08:24:04 AM
 #2168

Thanks from my side as well. All clear now!
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November 22, 2017, 09:10:10 AM
 #2169

What is the purpose of the gas incentive, how does that contribute to the smart contract system?

Gas is roughly the equivalent of ETH in function, in that users use GAS to deploy and run smart contracts. NEO is equivalent to shares in a company, which explains why it isn't divisible; it has no 'smart contract' function of its own. Each NEO generates GAS at a declining rate over 22 years, ultimately resulting in a 1:1 ratio of GAS to NEO. After 22 years, no more 'new' GAS is created. As 'shareholders' in the NEO network, NEO holders will eventually also receive a reward, in re-distributed GAS, for transactions taking place on the NEO network. This feature is not yet implemented, but when it is, the amount of GAS they receive will be a function of 1) how many NEO they hold and 2) how many transactions are taking place on the network. In theory, if the NEO network is successful, these rewards will more than compensate for the declining generation of 'new' GAS over time. Thus, there is always an incentive to hold NEO and receive GAS dividends (again, assuming the network itself is successful).

So, you need GAS to deploy contracts. GAS is the utility token. But you need NEO to generate GAS in the first place, and to collect a portion of fees on the network.

As a separate matter, users will be able to run network bookkeeping nodes at a cost of 1000 GAS. In theory, these nodes can charge whatever fees they want for the service they provide, but of course network users will choose the cheapest option available. Thus, in practice, bookkeeping nodes will likely charge very little, or perhaps even nothing. There will be little financial incentive to run a bookkeeping node; those who run them will do so mostly for the benefit of the network (e.g., a bagholder might want to run a bookkeeping node to help ensure network health and protect their own investment).

thanks for the explanation !

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  O HOLD YOUR
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November 22, 2017, 09:25:26 AM
 #2170

That is some very interesting news! I'm a proud NEO hodler, and very sure the only way is up!!

what news you talking about?

LOL

Which tweet are you talking about?

The one about the NEO Devcon? The DEV competition hosted by NEO and Microsoft or the one about the NEX (Neo Exchange)?

Or the one from Malcolm?


First of all I mentioned the latest and first announcement of NEO partner using the system of  SAFT instead of ICO so Chinese and USA CITICEN can participate at regulated tokensales.
They talked about it at the AMA of PROJECTICO on neonewstoday.com

Second I mentioned that https://neo.org/competition.html is aBother huge chance/challenge for the NEOcomunity pricing altogether 490.000,-

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November 22, 2017, 09:56:57 AM
 #2171

Hi all ,I holding some NEO at Ledger Nano S wallet ,the question is if I loose my ledger or destroy it somehow ,how can I get other accsess to my wallet?
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November 22, 2017, 10:32:20 AM
 #2172

Hi all ,I holding some NEO at Ledger Nano S wallet ,the question is if I loose my ledger or destroy it somehow ,how can I get other accsess to my wallet?
There is no way I think because we can't export the keys. I recommend you to buy another Ledger Nano S (as I do), import the seed from the original one, then you will have a clone from your first Nano S.
You can use both of them, maybe one at work, one at home, or one just as a backup in a safe location.

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November 22, 2017, 10:40:08 AM
 #2173

Despite the weekend shenanigans, another dApp has decided to transition to the $NEO blockchain: Universal Health Coin.

https://twitter.com/ByteSizeCapital/status/932959042325975040



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November 22, 2017, 12:17:41 PM
 #2174

Good News. NEO will recover till 40$

https://neo.org/blog/details/3037

http://cryptobo.com  - First Crypto Binary Options
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November 22, 2017, 12:24:08 PM
 #2175

Impressed with the apology post, glad to see the community are recognised like this
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November 22, 2017, 12:39:09 PM
 #2176

Good News. NEO will recover till 40$

https://neo.org/blog/details/3037

dont think it will recover, but this dev post is a great news, they know how to do it now

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  O HOLD YOUR
OWN KEYS!
  O   O [SUCCESS   
RAISE
US$18mil+]
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November 22, 2017, 12:49:16 PM
 #2177

NEO News Now | Live Interview With PeerAtlas Co-Founder Colin Closser | ICO Hitting NEO Soon

http://video.genyoutube.net/vJ1eGnZYZcY



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November 22, 2017, 01:24:04 PM
 #2178

Explanation of last few days
Author fangyuting@neo.org posted on 11/22/2017

https://neo.org/blog/details/3037

The last few days have been a rollercoaster, and the community deserves an apology and an explanation.
This has been a big weekend for the NEO ecosystem. Firstly, Ontology, a new public platform for distributed trust networks had its sneak peek in Shanghai. Secondly, we revealed a big development contest together with Microsoft China, with big prizes and invitations to NEO DevCon in Silicon Valley. Thirdly, a few members from our largest community organization, City of Zion, released their whitepaper for NEX, a decentralized exchange which we believe adds exceptional value to our ecosystem.
For us in the NEO Council, these are all big events and important additions to the NEO ecosystem. We wanted the community’s attention, which was why we released a cryptic message on Friday afternoon.
Prior to releasing the “announcement of an announcement”, we had specific discussions concerning the impact this approach would have. Observing projects that used similar marketing strategies, we knew that the community would expect big news, such as an announcement of a large partnership. Eventually, we concluded that the announcements over the course of the weekend will be comparable to a large partnership, and decided to go ahead with the teaser.
We have heard your voice, and understand that the community would prefer it if we refrain from using this marketing approach in the future.
What we did not expect was that people would start to speculate on China regulations. For us, it is natural that regulations would come from the government, and not from an open source project. Throughout Saturday, rumors spread further whilst the NEO Council was occupied with the Ontology reveal and China Open Source Conference.
On Sunday, it came to our awareness that the community had expectations of regulation changes. We stated explicitly in our Slack channel that there will be no announcements regarding regulations and denounced any messages claiming so. Photoshopped pictures that spread false rumors were quickly denounced as well.
We would like to reiterate that NEO is an open source community project, and compliance is a core design philosophy for this project. It is a big leap to go from being regulatory compliant, to a point where regulations are changed to comply with the NEO platform. We urge the community to adjust their expectations accordingly, as speculation of NEO becoming the ‘official’ cryptocurrency of China is a misrepresentation of our true goal, which is to build an ecosystem within the existing legal frameworks.
The “new” thing we wanted to reveal on Monday was the development competition organised with Microsoft and our DevCon in Silicon Valley. Unfortunately, the competition website template was leaked on Friday, removing the element of surprise for the community, and leaving us with an awkward announcement.
Upon reflection, we acknowledge there are many things we could have done better to minimize the damage.
We should have put an end to the speculation sooner. Once the competition details leaked, we should have formally announced the competition.
We could have made it clear to the community when the announcement would be made, and quickly confirmed when all the news had been released.
Members of our team should have had the self-awareness to not place themselves in a position where they may fuel further speculation.
We would like to take this opportunity to apologize to the community for the events that occurred over the past few days, and to anyone who felt let down by our team.
We are currently evaluating our communication strategies in detail, and working hard to improve so that similar issues never occur again.
We have also heard the community’s concerns regarding Ontology as a potential competitor to NEO. Ontology will be a strong enabler for NEO’s vision of a smart economy, and we invite the community to join the Ontology AMA on NEO Reddit to have all your questions answered.
The Ontology AMA will start this Thursday the 23rd of November at UTC 3:59 PM, and more details found here: https://www.reddit.com/r/NEO/comments/7e9w2b/ama_from_today_november_20th_ontology_network_a/
Finally, we’d like to end on a positive note and say how excited we for what the future has in store for NEO. There are many exciting projects coming to the NEO ecosystem, and many exciting events on NEO’s horizon. We stay firmly committed to our goal of building the new smart economy, and recognize we can’t do that without you, the community. We know how lucky we are to have you on our side, and we definitely do not take your support for granted. 



easyrimka
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November 22, 2017, 02:47:33 PM
 #2179

NEO News Now | Live Interview With PeerAtlas Co-Founder Colin Closser | ICO Hitting NEO Soon

http://video.genyoutube.net/vJ1eGnZYZcY





do you have informations about this ico

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  O HOLD YOUR
OWN KEYS!
  O   O [SUCCESS   
RAISE
US$18mil+]
mapie88
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November 22, 2017, 03:18:03 PM
 #2180

Good News. NEO will recover till 40$

https://neo.org/blog/details/3037

I don't really care about short-term price targets, but I am glad and relieved by this post. I think they understood the problem with announcement of announcements: people are crazy and will come up with all sorts of bullshit. The NEO team thought, and rightly so, that people would understand the fact that announcements concerning regulations can only come from government sources but no, people are just fucking stupid.
Anyway, thumbs up to the team, they showed us that they are committed and can work on their mistakes to get better and better.

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