NEO Gas (GAS) Token Sparks Following Neo’s New Chapter Announcement
/ Neo’s GAS token surges 32% as Neo unveils new chapter, bringing resistance to MEV attacks and EVM compatibility to the Smart Economy.
By Nilesh Hembade.
Date: 28 Oct 2023, 14:10 PM IST
In a whirlwind of excitement, Neo, the pioneering Open Network for the Smart Economy, has taken center stage with its utility token, GAS, surging by an impressive +32% in the past 24 hours. The GAS token is currently trading at $4.14, flaunting a substantial market capitalization of $41 million. Fueling this frenzy is a remarkable +276% surge in the 24-hour trading volume of GAS.
This fervent rally has been ignited by Neo’s latest and most thrilling revelation to date—the commencement of a new chapter in its journey.
Neo Announces a New Chapter:
Neo has officially disclosed its strategic move towards creating a sidechain that boasts resistance to MEV (Miner Extractable Value) attacks and compatibility with the Ethereum Virtual Machine (EVM). This groundbreaking sidechain project will inherit the esteemed economic model and Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism of Neo N3, ensuring a seamless transition into a new era of decentralized innovation.
#Neo Founder @dahongfei, announcing #Neo’s New Chapter: an #MEVFree, #EVM compatible sidechain, to ensure security, privacy, and a smooth experience in the increasingly complex #DeFi landscape.
— Neo Smart Economy (@Neo_Blockchain) October 27, 2023
The sidechain is under development. The testnet is planned to be launched at the end… pic.twitter.com/EO9Ck52qGt
What sets this development apart is not just the ambitious vision but the timing of it all. The Neo community can look forward to witnessing the fruits of this labor by the end of 2023 when the sidechain is expected to be unleashed upon the world.
The Role of $GAS in Neo’s Ecosystem:
In the grand scheme of Neo’s dual token model, GAS takes center stage as the utility token that powers the ecosystem. GAS is the lifeblood of Neo’s Smart Economy, serving various essential functions. It facilitates transactions, interactions, and purchases within the Neo network, making it an indispensable component in the Neo ecosystem’s vibrant tapestry.
With this announcement, the native token NEO was also in action yesterday, as it was up by +15%.
Disclaimer:
Consult your financial advisor before making any decisions because Investing in digital assets is extremely risky. Digital asset prices are subject to high market risk and price volatility. No information on this website is intended to be a solicitation or an offer.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
