Gas Price

Gas (GAS) is a utility token that functions as the fuel for the Neo blockchain ecosystem. Currently ranked #284 with a price of $3.28, GAS is used to pay for transaction fees, smart contract deployment, and network resource usage on the Neo platform. As a dual-token system alongside NEO, GAS represents the right to use the Neo network. When users make transactions or run applications on Neo, they pay fees in GAS, which are then distributed to network validators. GAS has a total supply of 65.09M GAS with 65.09M GAS currently in circulation. In the past 24 hours, GAS has seen a price change of -3.69%, with trading volume reaching $1.1M. The token's market capitalization stands at $214.09M, reflecting its established position in the blockchain ecosystem. GAS is particularly valuable for developers building decentralized applications on Neo, as it powers all computational resources and network operations.

Gas was created on July 6, 2017, as a utility token for the Neo blockchain ecosystem. It functions as the fuel token that powers the Neo network, allowing users to pay for transaction fees, smart contract deployments, and network resource usage. Since its inception, Gas has been an integral part of Neo's dual-token economic model, where NEO represents ownership in the network while GAS represents the right to use the network.

Gas was founded by Da Hongfei and Erik Zhang in 2014, initially under the name Antshares. The project later evolved into the Neo blockchain ecosystem, where GAS functions as the utility token. These founders established Neo as an open-source community-driven blockchain platform designed for building decentralized applications and managing digital assets through smart contracts. The Neo N3 upgrade introduced a more modular architecture along with improved governance and economic models, enhancing the overall functionality of the GAS ecosystem.

Gas (GAS) is a cryptocurrency that functions as the utility token within the Neo blockchain ecosystem. It serves as the fuel for executing smart contracts and processing transactions on the Neo network. When users deploy or interact with smart contracts, they pay transaction fees in GAS, which are then distributed to Neo consensus nodes that maintain the network. Currently priced at $3.28 with a market cap of $214.09M, GAS ranks #284 among all cryptocurrencies. The token has seen a -3.69% price change in the last 24 hours, with trading volume reaching $1.1M. GAS has a circulating supply of 65.09M GAS and a total supply of 65.09M GAS. Unlike some cryptocurrencies, GAS doesn't have a maximum supply cap, as it's generated through a decay algorithm that produces new tokens with each new block on the Neo blockchain. The token's primary utility is to pay for computational resources and network fees, making it essential for anyone using the Neo ecosystem for decentralized applications or asset transfers.

Gas operates on a dual-token architecture within the Neo blockchain ecosystem. Technically, it functions as a utility token that powers the Neo network by covering transaction fees and smart contract execution costs. The architecture employs a Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, which allows for high transaction throughput and finality. Gas is generated through a decentralized distribution model where Neo token holders receive GAS as a form of 'dividend' for participating in network governance. This creates an economic incentive structure that aligns stakeholder interests with network security. The technical implementation includes: - Smart contract execution engine - NeoVM (Neo Virtual Machine) integration - Interoperability with Neo's digital identity system - Support for digital assets management - Cross-chain functionality through Neo's interoperability protocols This architecture enables Gas to serve as the 'fuel' that powers the entire Neo ecosystem, facilitating both basic transactions and complex decentralized applications.

Gas has a promising future as part of the Neo ecosystem. The roadmap focuses on enhancing its utility as the fuel token for the Neo blockchain, powering smart contracts and decentralized applications. By 2025, Gas is expected to benefit from Neo's N3 migration, which improves scalability and interoperability. Key developments include: 1. Expanded DeFi integration within the Neo ecosystem 2. Improved governance mechanisms allowing GAS holders to participate in network decisions 3. Enhanced interoperability with other blockchains through Neo's cross-chain functionality 4. Optimization of gas fees to make transactions more cost-effective With Neo's continued development of its smart economy vision, Gas is positioned to grow in utility and adoption. The team is actively working on partnerships and ecosystem expansion to increase GAS's use cases beyond just transaction fees, potentially driving demand and value in the coming years. Current market position at 284 with $3.28 suggests room for growth as Neo's ecosystem expands.