The title of this article is making a pretty bold claim. But there is actually a chance that the Gas (GAS) coin could soon be used to participate in the ERC20 ecosystem in the same way that Ethereum (ETH) is currently used. On top of that, it will be the easiest way to buy tokens launched on the NEO (NEO) network.
You may have noticed that GAS has gained 34% in the past 24 hours – or that NEO has added 7% to its price and secured its spot as the 6th most valuable coin worldwide. That might be because of the super hyped-up, two-day event that they are holding starting tomorrow:
We're pleased to present the $NEO TALK @ DevCon web show, feat. interviews with over 20 speakers by CryptoBud, Chico Crypto, Crypto Love and YLGV and simulcast across all their YouTube channels and our Twitter. https://t.co/MzZmkhnPio pic.twitter.com/xai3Fk4yFm
— NEO News (@NEOnewstoday) January 25, 2018
That has most likely had something to do with the surge in both of these currencies’ prices today. But there are other reasons that investors might want to be flocking to these coins – particularly GAS.
It’s all about Neon Exchange (NEX)
A new cryptocurrency exchange is going to be launched on the NEO platform, and it’s called Neon Exchange (NEX). This was just announced, and we have no idea what the specific date of this ICO will be – but we do know that it will be in Q1. They will be at the big event tomorrow, though:
— neonexchange (@neonexchange) January 29, 2018
NEO fans are freaking out about this platform. When it first kicks off in Q3, it will support the trading of NEX, NEO, and GAS coin transactions. But, in Q4 of this year, the NEX roadmap says that it will support ETH and ERC20 coins:
How is that good for the Gas (GAS) coin?
If you are a NEO holder, then you know that this cryptocurrency has a tremendously passionate Reddit following. Thankfully, Reddit user lordsaroman paid very close attention during a NEX Q&A and highlighted a huge development.
Apparently, it was made known that NEX will be more than just an exchange. It will also feature an API that allows you to buy NEP5 tokens (coins launched on top of the NEO blockchain) using your NEO or GAS coin supply instead of having to go through the trouble of buying the individual token for whatever dApp you are using.
You can imagine it like how there is a PayPal option when you do check out on a lot of e-commerce marketplaces – an option to just pay with either of those common currencies.
Combine that with the fact that this will be a cross-chain, ERC20-supporting exchange – that leads us to believe that you will eventually be able to just use GAS to pay directly for Ethereum dApp contracts.
Do you guys think this will be the likely outcome? Or will there already be a coin so flexible at that point in time that it wouldn’t matter, and we’d already be doing cross-chain dApp payments like it was no big deal.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.