What is GAS?

The full name of GAS is Neo Gas, commonly known as "Little Ant Egg". It is one of the native tokens of the NEO network, with a total of 100 million. It is generated with the generation of new NEO blocks and distributed to NEO shareholders for free. Currently, 10,000 NEOs can get about 3 GAS per day. It is also the fuel consumed by NEO transfers, but NEO transfers are currently completely free, but the deployment of NEO smart contracts requires a unified consumption of 500 GAS.

When considering investing in GAS coins, it is necessary to understand that NEO has established a dual token system, including NEO and GAS. The difference between the two can be explained in the following way: NEO is like the stock of the company "Xiaoyi" (the team behind NEO). Holding NEO is equivalent to holding the equity of this company and giving you the right to participate in voting. In addition, Xiaoyi officials also use NEO tokens instead of GAS when rewarding the community or making external investments. In contrast, GAS is similar to the fuel for company operations, which is used to pay for the deployment and execution of smart contracts. Both tokens play different roles in the NEO ecosystem, so whether it is worth considering investing in GAS coins depends on personal investment goals and understanding of the NEO ecosystem.

GAS tokens are a token that is considered fuel and is generated as the blockchain is created at a rate of 8 GAS per block. The generation rate of GAS will decrease by 1 GAS after every 2 million blocks are produced. It is expected that the total supply of GAS will reach 100 million by around 2039, after which the generation process will stop. Unlike NEO tokens, GAS tokens can be divided and circulated. In addition, GAS dividends will also increase as network fees increase. Users need to pay GAS to deploy and run smart contracts. This fee is proportional to the computing resources consumed by the contract and will be distributed as a reward to the "bookkeepers" in the network to encourage them to actively participate in the maintenance of the network. $GAS