#GasFeeImpact GAS Price
$4.084973 USD
+3.16%
In the last 24 hours, Binance customers purchased 545,866.70 GAS worth $2.19M
About Gas (GAS)
It functions as one of two tokens within the NEO blockchain ecosystem. Its primary function is to facilitate the smooth execution of transactions on the NEO network, and it essentially serves as a currency for network fees.
NEO employs a dual-token model to enable user participation without diminishing their stake in the network. While NEO tokens grant governance rights and voting privileges, GAS is the fuel that powers the blockchain's operations.
The mechanism is simple: the network charges fees for transactions and the storage of tokens and smart contracts. Those who wish to use the NEO blockchain must pay these registration fees using GAS tokens. These collected funds serve as economic incentives for the network's bookkeepers. Consequently, every validated transaction and newly created block generates additional GAS tokens, ensuring an efficient network and preventing resource abuse.
GAS token holders have the option to convert their tokens back to NEO, resulting in dividend earnings. Exchanging GAS for NEO generates more GAS tokens over time as the network evolves. Additionally, as the ecosystem expands, the cryptocurrency in your wallet generates more funds.
A significant portion of GAS tokens are distributed to voters as a reward for their active participation in network governance.
The total limit of GAS tokens is capped at 100 million, with a current circulating supply of 10,128,375. Unlike NEO, GAS is divisible, with the smallest unit being 0.00000001.
Importantly, staking NEO is not required to claim GAS tokens. Most NEO wallets include an easy claim feature, users collect their earned GAS tokens with a simple click.
