Buy Gas
What is Gas?
Gas (GAS) is a token created on the NEO blockchain platform. It is primarily used for paying transaction fees and for executing smart contracts on the NEO network. This token is integral to the operations within the platform, facilitating the smooth functioning of decentralised applications (dApps) and smart contracts.
How does Gas work?
Gas operates as the operational token within NEO's dual-token system, where NEO represents governance and ownership, and GAS is used for transactional purposes. The NEO blockchain employs the Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, which allows GAS to be used efficiently for transaction fees and smart contract deployment. This setup aims to maintain high transaction speeds and security, ensuring that the network operates smoothly.
What are the potential use cases for Gas?
Gas has several potential use cases, primarily in powering applications and operations on the NEO blockchain. This includes:
- Smart Contracts: Paying transaction fees and deploying smart contracts, essential for dApp development.
- Decentralised Finance (DeFi): Facilitating various DeFi applications like data exchange marketplaces and investment management tools.
- Decentralised Storage: Utilised in systems like NeoFS for operations such as content delivery and NFT storage.
- Cross-Blockchain Transactions: Potential to be used in interoperability projects, enhancing its utility across different blockchain platforms.
What is the history of Gas?
Gas's history is intertwined with the NEO blockchain, originally founded as AntShares in 2014 by Da Hongfei and Erik Zhang. In 2017, it rebranded to NEO, and AntCoins were renamed as GAS. The dual-token system with NEO for governance and GAS for operational purposes was established to facilitate a smart economy. Key milestones include the 2016 ICO that significantly boosted the project, and the launch of NEO 3.0 in 2021 to improve scalability and functionality. This history underscores GAS's role in supporting the NEO ecosystem and its smart contract capabilities.
Related Assets
Resources
Learn More About Gas
Frequently Asked Questions (FAQs)
What is the current price of Gas (GAS)?
The Gas price is $8.8293 AUD, representing a -1.43% from the day prior.
Where is the best place to buy Gas (GAS) in Australia?
The best place to buy Gas (GAS) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Gas (GAS) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Gas (GAS)?
The trading volume of Gas (GAS) is $93.5M AUD in the last 24hrs, representing a -1.43% from the day prior.
How can I buy Gas (GAS)?
Gas (GAS) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Gas (GAS)?
The current market cap of Gas (GAS) is $574.2M AUD.
Can I convert Gas (GAS) to cash?
Yes - With Coinstash you can convert your Gas (GAS) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Gas (GAS) are there?
The current circulating supply of Gas (GAS) is 65.1M.
Is Coinstash a safe place to buy Gas (GAS) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Gas (GAS) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.