So while it might seem like the cryptocurrency world is burning to the ground, some altcoins are still chugging along. One of the more popular altcoins, NEO has seen some pretty strong interest in the new .NEO TLD with domains like wallet.NEO and crypto.NEO seeing pretty heavy bidding activity.
Of course, these domains aren’t selling for actual money, they are being paid for using NEO Gas. If you don’t know what Gas is, here’s a quick primer:
- NEO tokens represent the ownership of the NEO blockchain. They are used to create blocks and manage the network, and when you hold NEO in your wallet, you’ll be rewarded with GAS tokens.
- GAS tokens give you the right to use the NEO blockchain. Much like Ether to the Ethereum network, GAS is the fuel that powers transactions in the NEO system.
(Source – Finder.com)
With the launch of .NEO, the NEO Name Service has actually become the most active DApp out there.
Chinese blockchain developer, NewEconoLabs, has launched NEO Name Service (NNS), a domain name service for the NEO blockchain, on the NEO MainNet. NNS offers users easy-to-remember domain names ending in “.neo”. Auctions for domain names started on October 9th, 2018, and are ongoing.
Reached for comment, NewEconoLabs founder Liu Yougxin stated that “The number of domain names started is more than 10,000 in a few days after its MainNet launch. Currently, it is the most used DApp on NEO.” (Source – NEO News Today)
I personally have zero interest in .NEO domains but I do think it’s interesting that in a very short period of time the service issuing .NEO domains became the most-used DApp. That either shows you that domains are hot no matter how you slice it…or there aren’t that many popular DApps out there.
Since I know very little about crypto or NEO I thought I’d let some of my readers who know more about this chime in and share their thoughts. Should I care about .NEO? I want to hear from you, comment and let your voice be heard!