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What is Gas (GAS)?

Gas basic info

Name:Gas
Ticker:
Introduction:

What Is GAS?

GAS, commonly referred to as NEOGas, is an integral component of the NEO blockchain, a platform often dubbed as China's answer to Ethereum. The NEO network is unique in its adoption of a dual token mechanism, aiming to separate the rights of governance from the rights of using the network. While NEO represents the governance aspect, GAS is the operational token, facilitating various activities on the NEO network. Much like the concept of "gas" on the Ethereum platform, GAS in the NEO ecosystem is used to pay for a myriad of operations, making it essential for the smooth functioning of the network.

The NEO network's vision of a "smart economy" is underpinned by its dual-token system. With a total supply of 100 million, the NEO token allows holders to participate in governance, voting for the Neo Committee, which oversees the blockchain's operations. On the other hand, GAS, which is generated with every block processed, is used to pay transaction fees and the deployment of smart contracts on the NEO network. This dual system ensures that governance remains decentralized while the network remains agile and efficient.

Resources

Official Documents: https://docs.neo.org/docs/en-us/index.html

Official Website: https://neo.org/

How Does GAS Work?

The NEO network charges GAS for the operation and storage of tokens and smart contracts. This mechanism prevents the potential abuse of node resources. System fees collected are burned, ensuring a deflationary aspect to GAS. Meanwhile, network fees are redistributed to consensus nodes, providing them with an economic incentive to maintain the network's integrity and efficiency.

GAS is produced at a rate determined by the network. For instance, 5 GAS tokens are generated every block, and this is distributed in various proportions. The largest chunk of GAS is given to voters, rewarding them for their active role in network governance. This system not only incentivizes participation but also ensures that those who contribute to the network's decision-making are duly rewarded.

What Is GAS Token?

GAS is one of the two tokens created by the Neo Foundation. Its primary function is to serve as a utility token for the NEO network. GAS is used to pay for transaction fees and the deployment of smart contracts. Unlike NEO, which is indivisible, GAS is divisible, making it suitable for microtransactions on the network.

By holding NEO in specific wallets, users can earn GAS as a form of dividend. This staking mechanism offers NEO holders an additional avenue for returns, making the NEO ecosystem attractive for both governance participation and passive income generation.

What Determines GAS's Price?

In the ever-evolving Web3 landscape, the price of GAS, a pivotal token within the NEO network, is influenced by a myriad of factors rooted in blockchain dynamics and external market conditions. At its core, like all assets, the principle of supply and demand plays a pivotal role in determining GAS's price. As cryptocurrency adoption surges and the NEO network gains traction, the demand for GAS can see significant fluctuations. Cryptocurrency charts and cryptocurrency analysis provide insights into these shifts, often highlighting the impact of the latest news, from cryptocurrency regulation changes to the latest developments in the blockchain space.

Market volatility, a hallmark of the cryptocurrency realm, further complicates cryptocurrency price predictions. Factors such as cryptocurrency risks, security concerns, and the broader cryptocurrency trends can lead to sudden and dramatic price swings. For instance, if the best crypto investment for 2023 and beyond is touted to be tokens like GAS, it could drive a surge in demand, influencing its price. In essence, while the intrinsic mechanics of the NEO network and blockchain principles guide GAS's foundational value, external factors, from cryptocurrency regulation to the latest buzz in the Web3 domain, shape its market price.

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Current price:
All-time high:$97.49
All-time low:$0.5991

GAS supply and tokenomics

Circulating supply:64,992,332 GAS
Total supply:64,992,331 GAS
Max supply:0 GAS
Market cap:$242.57M
Fully diluted market cap:$242.57M

Links

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What is the development prospect and future value of GAS?

The market value of GAS currently stands at $242.57M, and its market ranking is #186. The value of GAS is widely recognized by the market. When the bull market comes, the market value of GAS will likely continue to increase.

Moreover, if GAS can play a greater role in practical applications, such as Gas builders fully leveraging the potential of GAS, partnering with more businesses, and increasing its user base, the long-term value of GAS will be significantly enhanced.

What will the price of GAS be in 2025?
Based on GAS's historical price performance prediction model, the price of GAS is projected to reach $5.64 in 2025.
What will the price of GAS be in 2030?
In 2030, the GAS price is expected to change by -12.00%. By the end of 2030, the GAS price is projected to reach $8.02, with a cumulative ROI of +113.43%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of GAS and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is GAS worth investing or holding? How to buy GAS from a crypto exchange?

If you want to buy GAS, the following information may be helpful for your investment decisions:
In the last 7 days, the price of GAS has fallen by -4.44%, leading to negative returns for most GAS investors. The market is currently pessimistic about the price trend of GAS.
It is important to note that the current price of GAS has retreated by -96.17% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether GAS is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in GAS or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of GAS, if you want to buy or sell GAS, you can consider Bitget for your trading needs. The best place to buy GAS is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Gas has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Gas. Here's a step-by-step guide on how to buy Gas on Bitget.

How to get Gas through other methods?

Using cash to buy Gas is not the only way to obtain Gas. If you have the time to spare, you can get Gas for free.
Learn how to earn Gas for free through the Learn2Earn promotion.
Earn free Gas by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Gas airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Gas through Bitget Convert, Bitget Swap, or spot trading.

What is Gas used for and how to use Gas?

The use case of Gas may expand as the crypto market and the project itself develop. Currently, you can use GAS to achieve the following goals:
Arbitrage by trading GAS: Since GAS is a frequently traded cryptocurrency, the price of GAS is always fluctuating. Earn more GAS by buying low and selling high on the exchange. Bitget spot market provides a variety of GAS trading pairs to fully meet your needs.
Earn by staking GAS: You can also generate income through financial management methods such as staking GAS or lending GAS. Bitget Earn offers a variety of financial products designed to help you earn more income from your GAS.
Send or pay GAS: If you want to give GAS to your friends, a charity, or a fundraiser, or you want to pay someone with GAS, you can quickly and easily send GAS to the recipient through their payment address.
You can also go to the official website of the Gas project to learn more about the use cases of GAS. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

Gas Wiki

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