{"id":3820,"date":"2021-03-05T04:09:35","date_gmt":"2021-03-05T04:09:35","guid":{"rendered":"https:\/\/afluxcoin.com\/09\/what-is-neo%e2%80%8a-%e2%80%8athe-simple-and-non-techy-guide\/"},"modified":"2021-03-05T04:09:35","modified_gmt":"2021-03-05T04:09:35","slug":"what-is-neo%e2%80%8a-%e2%80%8athe-simple-and-non-techy-guide","status":"publish","type":"post","link":"https:\/\/afluxcoin.com\/zh\/09\/what-is-neo%e2%80%8a-%e2%80%8athe-simple-and-non-techy-guide\/","title":{"rendered":"What is NEO?\u200a\u2014\u200aThe Simple and Non-Techy Guide"},"content":{"rendered":"<p>Again, in the \u2018non-techy\u2019 spirit, I will be drifting a lil\u2019 to explain some concepts that will help you understand the \u201dsmartness\u2019 of NEO\u2019s economy.In the GAS protocol, GAS is mined automatically via a set algorithm and then redistributed to all NEO holders.But some holders of NEO have not the inkling of an idea of how the distribution is done and who Nodekeepers are.In the NEO blockchain, we have Nodekeepers(NKs) or Bookkeepers as formerly called. NKs are the validators of the NEO blockchain transaction.I will explain how the NKs are gotten using the diagram below.The NKs(Delegates) are selected by the NEO holders and from the selected Delegates, a Delegate Leader is randomly picked (who adds the new block confirmed by all NKs).These NKs(delegate leader + delegates) have the function of validating blockchain transactions and setting transaction fees. The transaction fees are paid in GAS and they are redistributed back to the NKs.But hold up:(a). If the NKs get to set the transaction fees, can\u2019t they just increase the fees in order to gain more?(b). And you just said that the GAS from transaction fees goes to the NKs, from whence cometh the ones NEO holders gain?To answer the first question(a), the NKs will be chasing away investors from the NEO blockchain if the fees are high. So the transaction fees are kept at the barest minimum to attract companies to invest in NEO. Besides, NEO holders can vote out any NK that increases the fees.But won\u2019t that be a case of \u2018monkey dey work, baboon dey chop\u2019 on the part of the NKs since they will barely make anything from the transaction fees?I will revert back to this question after providing an answer to the other question.To answer the (b) question above, the GAS distributed to the NEO holders cometh\u2026<\/p>","protected":false},"excerpt":{"rendered":"<p>Again, in the \u2018non-techy\u2019 spirit, I will be drifting a lil\u2019 to explain some concepts that will help you understand the \u201dsmartness\u2019 of NEO\u2019s economy.In the<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts\/3820"}],"collection":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/comments?post=3820"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts\/3820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/media?parent=3820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/categories?post=3820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/tags?post=3820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}