Gas (GAS) Cryptocurrency: Fueling the Future of NEO Blockchain

1. What is Gas Cryptocurrency?

#Gas (GAS) is the utility token of the #NEO blockchain. It powers the network by facilitating transaction fees, smart contract deployments, and other operational tasks.

2. Dual Token Model: NEO & Gas

Unlike many cryptocurrencies, NEO uses a dual-token system where NEO governs the network, while Gas is used for transaction processing.

3. Use Cases of Gas

Gas is primarily used to pay for transaction fees within the NEO #blockchain and is crucial for deploying smart contracts and running decentralized applications (dApps).

4. Recent Price Trends

As of late November 2024, the price of Gas is hovering around $5.84, with a 7% increase in the last 24 hours. However, it remains significantly below its all-time high of $97.49.

5. The Role of Gas in the NEO Ecosystem

Gas acts as the "fuel" that keeps the NEO network running, incentivizing participants to keep the blockchain operational.

6. Gas vs. Other Cryptos

While other cryptocurrencies may offer similar functions, Gas’s role as a utility token within NEO’s governance structure sets it apart from other tokens.

7. Distribution of Gas Tokens

Gas tokens are passively distributed to NEO holders, encouraging their participation in the governance and development of the NEO network.

8. The History of Gas

Gas was introduced as part of the NEO blockchain, which initially launched as Antshares. The network has evolved, most recently upgrading to NEO 3.0, enhancing its functionality.

9. Gas in DeFi

Gas is also crucial for the NEO network’s DeFi ecosystem, enabling decentralized finance applications to function smoothly by covering operational costs.

10. Future Prospects of Gas

With ongoing updates and the expansion of NEO's blockchain capabilities, Gas holds potential for further integration into various decentralized applications and platforms.

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