What is ASP?

ASP is the native token of Aspire. It is a technical necessity for adding advanced features to Aspire, which by nature require a protocol aware currency. Bitcoin can only be aware of BTC, while Aspire can be aware of both BTC and ASP itself. This makes it possible to escrow funds, trade in a decentralized manner, and harness the full potential of programmable money.

Note: It is a common misconception that ASP is a competitor to gAsp, when in fact it cannot exist without it. And even though ASP is not a traditional currency, it serves a steady and critical purpose within the Aspire ecosystem.

How was ASP launched?

ASP will be created at with the launch of the Aspire platform. It will be given to those who participated in the Aspire ICO. gAsp will be distributed prior to the release of ASP.

Is ASP an alt-coin or competitor to gAsp?

No. ASP cannot exist without gAsp, as Aspire extends the basic features of gAsp with proof-of-publication, oracle betting, decentralized exchange, automatic escrow, order matching, and smart contracts.

Can more ASP be created?

No. The supply of ASP is fixed, and decreasing because of fees being burned.

What is ASP used for?

ASP is the fuel for smart contracts. When smart contracts are running, fuel is used for each execution step. Appropriately enough, this fuel is burned (destroyed). This means that the supply of ASP is continuously decreasing. However, the cost of fuel adjusts proportionally as the supply of ASP goes down, so that it cannot reach 0.

ASP is always the easiest token to trade against, as it is represented across all exchanges that support Counterparty. It is also used for anti-spam fees when registering named tokens, and when making distribution payments to token holders. The betting system also uses ASP .