#FUNDING #GAS

Gas Coin (GAS) is a cryptocurrency used to pay costs related to executing transactions and smart contracts in theNEO blockchain platform. NEO is a non-profit community-based blockchain project that uses blockchain technology and digital identity to: digitize assets, automate the management of digital assets using smart contracts to create a "smart economy".



Gas was born with NEO in 2014. When making transactions on the NEO blockchain, you need Gas Coin to pay related costs (such as smart contract registration fees) for those transactions. . When you hold NEO coins in your cryptocurrency wallet, you will also be rewarded with GAS coins for mining NEO coins.

Features and characteristics of Gas

In the NEO blockchain platform, there are two separate cryptocurrencies: the main currency is NEO and the other currency is GAS. Below are the features and characteristics of GAS coin

The limit of GAS is 100 million coins

The GAS cryptocurrency is used to control and have management rights over the NEO coin. This right includes checking data and changes in the parameters of the NEO coin. These coins are planned to be mineable like NEO but the functionality is not currently enabled.

When a smart contract is completed, its records must be verified by blockchain technology. The company that creates the NEO blockchain uses GAS to pay for their applications on the NEO system (such as smart contract registration fees) and the GAS will be reused by NEO owners and the new GAS will also be used. will be created. Fees are calculated based on the computing resources used by the contract. So as the NEO network grows, and becomes more used, the GAS produced by holding NEO will increase.