NEO is China's first ever original and open source public chain project. NEO serves as a smart assets platform. Smart assets are the combination of smart contracts of blockchain technology and digital assets. NEO allows for smarter registration, issuance, and circulation of digital assets.
NEO via technologies including P2P, dBFT, digital certificate, smart contract, superconductive trade, cross-chain operation protocol, enables people to manage smart contracts effectively, safely and legally.
NEO Smart Economy is a next generation economy and trade where trade agreements are written in almost any programming language using a Smart Contract.
NEO is often called "China's Ethereum" because of it's similiarities to the Etherum blockchain.
GAS is a Cryptocurrency which is distributed by holding NEO in your wallet.
GAS is used to fuel transactions on the NEO blockchain.
With each NEO Block getting generated, GAS will be distributed to all NEO holders.
NEOtoGAS has been brought to life by N1njaWTF. The aim of this NEO Community website is to provide an easy & simple to use NEO GAS Calculator, the actual NEO & GAS Market Price & other useful things. You can also check your NEO Balance, your NEOGAS balance & the unclaimed NEOGAS you currently got. I think the site is also great for new people that are interested in the NEO Blockchain, Cryptocurrency and its Community.
With every new block being generated, it will distribute 8 GAS for all 100,000,000 NEO. These 8 GAS will then get divided and sent out to the NEO holders with every new block. That means, the GAS generation per day depends on the actual block generation rate, because GAS is being distributed when a new block gets generated.
As you may have noticed, the GAS reward calculator shows 2 values. Below you can see what's the difference between the Actual & Theory calculation.
The Theory Calculation, shows your GAS Rewards based on the whitepaper released from NEO. In the whitepaper the GAS Reward is based on a 15 seconds block generation rate. You can check out the Whitepaper here.
The Actual Calculation, shows your GAS Rewards based on the actual block generation rate, which is typically a bit lower than in theory. The actual block generation rate can vary and depends on the nodes & network. That's why the actual GAS Reward is a bit lower than in Theory.