What is GAS in NEO?
GAS is the native token of the NEO blockchain.
It is used to pay for transactions and fees on the network. GAS is generated through a process called “staking”, where users lock up their NEO tokens in order to receive GAS rewards. GAS rewards are distributed proportionally to the amount of NEO staked, and are paid out every 5 minutes.
The total supply of GAS is limited to 100 million tokens, and new GAS tokens are created with each new block that is added to the blockchain. GAS can be used for a variety of purposes on the NEO network, including paying for transaction fees, running smart contracts, and creating digital assets. It can also be used as a form of payment for goods and services within the NEO ecosystem.
Additionally, GAS can be traded on cryptocurrency exchanges for other digital assets or fiat currencies such as USD or EUR.
