Last Updated on June 11, 2023 by Bitfinsider
Gas is the cryptocurrency used to make payments on the NEO blockchain. The NEO network’s native token, Neo, is the Chinese version of Ethereum.
To perform a transaction or a smart contract on practically any blockchain, you must pay a transaction fee. This cost is known as gas on the Ethereum blockchain, but it is calculated in gwei, a subunit of the original ether token. You must also pay for gas on the NEO blockchain. Neo is not required; instead, NEO employs a special coin for paying gas fees known as “Gas.” The fees for conducting a transaction and executing a smart contract are determined by the nodes that validate these transactions.
Gas tokens are distributed according to a timetable on the NEO blockchain, which distributes Gas based on the block verified. Each block generates a particular number of GAS tokens, beginning with 8 GAS for the first two million blocks. Every two million blocks, one less GAS token is released, until from block 14 million to block 42 million, 1 GAS per block is released. In around 20 years, the entire supply of GAS tokens will reach 100 million. Running your validator node or staking NEO can earn you GAS.
Why Trade with ProEX?
ProEX is the world’s leading multi-contract trading platform, provides bitcoin and various cryptocurrencies, perpetual contract trading, ETF and other digital asset trading functions, Staking Pool services.
ProEX is committed to creating a better trading environment for our clients, ProEX has got MSB certificate（Money Services Business) from the United States and Canada, the USA MSB license was issued by FinCEN after being rigorously reviewed by the Financial Crimes Enforcement Bureau, an agency of the US Department of the Treasury.
Furthermore, there are no other exchanges that hold campaigns and giveaways as much as ProEX to support their community and users. If you are not convinced, go see for yourself!
How to buy or trade GAS on ProEX
You can buy or trade GAS on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.
On ProEX, you can trade GAS as a spot pair (GAS/USDT) in 3 simple steps:
- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade GAS/USDT at ProEX Spot
Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.
