What is Gas (GAS)?

Gas (GAS) is a cryptocurrency that serves as fuel for transactions on the NEO blockchain. GAS is a separate asset from NEO, the main cryptocurrency of the NEO blockchain. While NEO represents ownership of the blockchain and is used to create smart contracts and deploy decentralized applications, GAS is used to pay for transaction fees and computational services on the network.

What is it used for?

GAS is used to pay transaction fees and to incentivize users to maintain the NEO network. The amount of GAS generated by holding NEO is proportional to the amount of NEO held. As more transactions occur on the NEO network, the demand for GAS increases, which can lead to an increase in its value. Gas can also be traded on cryptocurrency exchanges, just like other cryptocurrencies.

Who created Gas (GAS)?

Gas was created by the NEO development team in China in 2014. NEO was originally called Antshares and was rebranded as NEO in 2017, along with the introduction of GAS as a separate cryptocurrency.