$44 Million in ethereum moved with $0.13 fee, how can bitcoin reach similar scalability_ – coinjournal _ ethereum bitcoin chart market

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I don’t mind the confusion.

The GAS is completely different. I do hold NEO and understand the mechanics.

Imagine if ‘smart contracts’ and ‘dollar transfers’ were separate in ethereum. I presume you to be educated in the workings of block chain, so I will speak as if you are.

Bitcoin, dollar transfers, require low computer usage. Virtually any computer can run similar type nodes.Bitcoin chart market

Ethereum literally bricks your computer if you got a HDD, because smart contracts require insane amounts of rewrites.

So what NEO did was separate the two. One block chain, the GAS, does all smart contracts and platform building. All papers will address GAS. NEO has only one purpose (really), and that is to get free GAS for the purchase of NEO.

NEO is intended to be a very small, low use block chain, where as GAS is the ‘ethereum like’ block chain. Owning NEO gives you gas, and that is effectively the only purpose of owning NEO. It can not be used as a smart contract.

NEO is also not divisible. If you transfer 1.99 NEO to your account, you get 1 NEO, and 0.99 NEO gets destroyed.

And as an ethereum user, you can understand the benefits of such a model. Bankcor, etc, interrupted the ethereum block chain by spamming small transactions, of little economic value.Bitcoin chart market this was the ‘fear’ that NEO predicted would occur.

If you had $3 million of ethereum to move, it could be delayed by ~3 days, while bankcor worked out its issues dealing with millions of $100 transactions.

NEO makes it so that the NEO block chain can not be clogged, ever (effectively), and thus movement of large amounts of money does not have to compete with the same block chain space as movements of small transaction fees. This is one of the issues that the NEO team foresaw, which the tezos and ethereum teams did not.

The primary reason vitalik choose not to go this method is that he felt explaining the concept to the public would be more time consuming than it was worth.

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