What is Gas (GAS)?
The GAS token is an integral part of the NEO blockchain, serving as the operational token that enables smart contract execution and other functionalities within the NEO network. Here's a detailed breakdown of the GAS token and its relationship with NEO:
Operational Token:
● GAS is the operational token on the NEO blockchain, which powers the smart contracts and tokens built on this platform1.
● It's used for various network operations like running smart contracts and storage, and is analogous to Ethereum's gas which facilitates smart contract execution on the Ethereum blockchain.
Generation and Distribution:
● GAS is generated with each new block on the NEO blockchain. Initially, in the genesis block, GAS is zero but it gets generated as new blocks are added to the blockchain2.
● The distribution schedule of GAS is based on NEO block height, with a set number of GAS being distributed per block, and this rate decreases over time.
Ownership and Claiming:
● Holding NEO tokens allows users to generate GAS. As long as you possess at least 1 NEO, GAS will be generated automatically in the system following certain algorithms2.
● NEO holders can initiate a claim transaction at any time to claim the available GAS to their NEO address.
Usage:
● GAS is used for tokenizing microtransactions on the NEO network, and anytime a smart contract is processed, GAS is paid.
● It's also used for new asset issuance on the NEO network2.
Divisibility and Transferability:
● Unlike NEO, GAS is divisible, making it suitable for microtransactions4.
● GAS can be transferred to personal accounts and claimed by users, even if there is just one address in their wallet.
Two-Token Model:
● NEO adopts a unique dual token mechanism comprising NEO and GAS tokens. NEO represents the right to manage the NEO blockchain while GAS represents the right to use the NEO blockchain.
This two-token model allows users to participate in the ecosystem without reducing their stake in the network, making NEO a distinctive blockchain platform. The structure ensures a balanced system where the management and operational functionalities are separated, enhancing the network's efficiency and usability.
Gas (GAS) Tokenomics
Max supply: 100,000,000
How to buy Gas (GAS)
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Gas (GAS) Resources
Buy Gas in India with Bitget!
Simple 3-step guide to buying GAS today in India
Create your free Bitget account
Select a funding method
Complete your Gas purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Gas using a payment method of your choice:
Buy Gas with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Gas order.
How to buy crypto with credit/debit cardBuy Gas with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Gas is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Gas order.How to buy crypto via third-party gatewayBuy with bank transfer
Buy Gas via bank transfer: We accept UPI for INR payments. Services are provided by NeoFi payment gateway. Click Buy Crypto > [Third Party] in the top navigation bar to place your Gas order.Buy Gas with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Gas order.P2P trading
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Step 3: Monitor Gas in your Bitget spot wallet
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