GAS/USD: Convert Gas (GAS) to United States Dollar (USD)

Gas (GAS) is a unique token that operates on the NEO blockchain platform. Its primary function is to serve as the fuel for processing transactions within the NEO network. Unlike many other cryptocurrencies, Gas is not intended to be a standalone digital currency. Instead, it is intrinsically linked to the NEO network, providing the necessary resources for the network's operations. This includes everything from smart contract execution to network storage. Gas is an integral part of the NEO ecosystem, and its use is essential for the smooth functioning of the NEO blockchain.

Gas operates within the NEO blockchain, serving as a utility token. It is used to pay for various network operations, such as transaction processing and smart contract deployment. When a user or developer performs an action on the NEO network, such as executing a smart contract, a certain amount of Gas is consumed. This consumption of Gas is what powers the NEO network, ensuring that transactions are processed and that the network remains operational. Gas is generated with each new block on the NEO blockchain, and it is distributed to NEO token holders, who can then use it to pay for network operations.

The primary use case for Gas is to facilitate operations on the NEO network. This includes paying for transaction fees, deploying smart contracts, and making purchases within decentralized applications (dApps) built on the NEO platform. Gas is also used in the NEO network's governance model, where NEO token holders can vote on network parameters and receive Gas rewards for their participation. This dual token model, with NEO for governance and Gas for utility, allows for a more balanced and efficient blockchain ecosystem.

Gas was created alongside the NEO blockchain platform, originally known as Antshares, in 2014. The platform was founded by Da Hongfei and Erik Zhang, with the aim of digitizing assets and automating their management through smart contracts. In 2017, Antshares was rebranded to NEO, and the use of Gas as the network's utility token was solidified. In 2021, NEO underwent its most significant upgrade to date, known as N3, which introduced powerful new features and an improved governance and economic model. Throughout its history, Gas has remained a crucial component of the NEO ecosystem, powering its operations and facilitating its growth.