NeoGas (GAS) is a cryptocurrency associated with the Neo blockchain platform. Neo, often referred to as "Chinese Ethereum," is a blockchain network that allows developers to create decentralized applications and smart contracts. GAS serves as the fuel for the Neo network and has several important functions.
NeoGas (GAS) plays a vital role in the Neo blockchain ecosystem to facilitate transactions, smart contract execution, asset creation, and network security. It also empowers token holders to have a say in the platform’s governance. GAS is distinct from the primary token, Neo (NEO), which represents ownership in the Neo network and can be staked to generate additional GAS.
GAS can be generated by holding NEO tokens in a Neo wallet. This process is known as staking $GAS, and it provides an incentive for users to hold and support the network.
