NEO is a distributed network that uses blockchain technology and digital identities to digitize assets, uses smart contracts to automate the management of digital assets, and realizes a "smart economy". There are two built-in tokens in the NEO network, the management token NEO and the fuel token GAS.

GAS represents the right to use the NEO blockchain. Asset issuance in the NEO network and the operation and storage of smart contracts require a certain amount of GAS. GAS is initially 0 and will be generated with the generation of new district fast. As long as NEO is obtained, GAS will be automatically generated in the system according to the algorithm.

GAS has two states, extractable and non-extractable.

When the NEO in the account is spent (that is, transferred out), the GAS generated by it will become withdrawable. NEO holders can initiate a claim transaction at any time to claim these extractable GAS to the NEO address.

GAS is the fuel token of the NEO blockchain, which is used to control resources when using the NEO network.

The NEO network charges for token transfers and the operation and storage of smart contracts, so as to achieve economic incentives for bookkeepers and prevent resource abuse.

Project Features

The fuel token of the NEO blockchain is produced according to the development of NEO and is influenced by NEO.

Token generation and use

Token generation: GAS, as a fuel token, will be gradually generated to the address of NEO management tokens in the NEO blockchain through an attenuation algorithm in about 22 years. After the NEO management tokens are transferred to the new address, the subsequent GAS will also be generated at the new address.

Token function: pay NEO's additional service fee; pay NEO's basic byte fee; as a deposit for bookkeeping candidates.
There are two built-in native tokens in NEO, NEO (abbreviated symbol NEO) and NeoGas (abbreviated symbol GAS).

Additional instructions

NEO is a management token with a total of 100 million copies, which is used to realize the management right of the NEO network. Management rights include voting for bookkeeper elections, changing NEO network parameters, etc. The smallest unit of NEO is 1, which cannot be divided further.

GAS is a fuel token with a maximum total amount of 100 million, which is used to control resources when using the NEO network. The NEO network charges for token transfers and the operation and storage of smart contracts, thereby realizing economic incentives for bookkeepers and preventing resource abuse. The smallest unit of GAS is 0.00000001.

In the genesis block of the NEO network, 100 million copies of NEO have been generated, but GAS has not yet been generated, and the number is zero. The 100 million GAS corresponding to the 100 million NEO will be gradually generated to the address of the NEO management token in about 22 years through an attenuation algorithm. After the NEO management tokens are transferred to the new address, the subsequent GAS will also be generated at the new address.

The NEO network will set a threshold through voting to exempt GAS for a certain amount of transfer transactions and smart contract operation storage to improve the user experience. When a large number of spam transactions occur, NeoID can be used to prioritize transactions and smart contracts with qualified identities. Transactions and smart contracts without a qualified digital identity can be prioritized by paying GAS.

Related information:
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