Bitcoin, Crypto currency, Blockchain

NEO and Gas prices to go up contrary to the market trends, possible reasons

c684acf5c8ce30a4761100b4564b9f33 - NEO and Gas prices to go up contrary to the market trends, possible reasons

Contrary to the current negative trends of the market, the rates of NEO and Gas to rise sharply. NEO has increased in the last 24 hours to around 4 percent. Gas was even able to record an increase of 23 percent. Possible reasons, starting today, to be held at the end of NEO DevCon in San Francisco, and other announcements, the Neon Exchange are likely to be relating to.

In our weekly Outlook on Sunday, we had pointed to the upcoming NEO DevCon and their pioneering character. As is now customary, rise to expectations and also the prices prior to the actual taking place of such a conference. This does not seem to be in the case of NEO and Gas.

In San Francisco, to be held at the end of DevCon is to be held from today until 31.01.2018. Interested, can’t attend the conference in person, have the possibility to follow the conference via live stream on 31.01.2018 from 19:30 clock (German time).

The NEON Exchange (NEX)

But not only the NEO DevCon seems to support currently the price of NEO and Gas, but also the announcements for the NEON Exchange (NEX).

The NEX is a decentralized exchange platform, which is currently still in the design phase. The aim of the Neon Exchange is to combine the power of centralized exchanges with the confidentiality and the security properties of decentralized exchanges. The basis for this is the so-called “Trusted Off-Chain Matching Engine”, which only has control over active transactions and no access to the account balance of a user account (centralized exchanges).

Via Twitter, the Team behind the NEON Exchange in the past weeks a number of promising announcements. So that there will be a ICO. The exact date is not fixed yet. Only the 1. Quarter of 2018, as a rough schedule so far known.

Furthermore, it was already announced in December that, on the Exchange in the first year of NEO, NEX and Gas as “base pairs” can be used. Subsequently, the implementation of Bitcoin, Ethereum, and all the ERC-20 tokens is planned. This means that the decentralized Exchange and Cross-Chain transactions will be possible.

According to the Roadmap, for the 3. Quarter of 2018, the Launch of the Trading platform, NEO, NEX, and Gas is planned. For the 4. Quarter of 2018 is announced the publication of the Cross-Chain and Margin Trading platform.

So then NEO, NEX and Gas against Etherum and all of the ERC-20 tokens (Cardano, TRON, VeChain can be exchanged,…). This, in turn, means that NEO, Gas, and NEX can have on ERC20-Ecosystem part.

Why benefits from Gas of the announcements?

Gas benefited from the NEON Exchange, because the purpose of use of Gas is considerably expanded. Gas will not only be the fuel for the NEO network, but can also be used to Cross-Chain transactions. Thus, Gas could be in the future used, for example, to pay directly for Ethereum dApp contracts.

In addition, Gas in the NEO universe will get a other purpose. In the type of ERC-20 tokens NEO is able to create his own NEP5 Token Standard. Within this Ecosystem GAS for all of the NEP5 is a Token also is used as a fuel, and at the same time as a means of payment for ICOs.

In this respect, an interesting future for both NEO as well as Gas, from our point of view. In particular, the possible results and announcements of the NEO DevCon could drive the price of both currencies.

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