Gas
Current price
$1.28
−4.48%24h
LiveUpdated 49s ago
TodayGas falls 4.5%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.23%
- 24 hours−4.48%
- 7 days−5.04%
- 30 days+1.11%
- 1 year−51.13%
Gas's move in context
Lagging the market today
−4.48% today against −3.26% for the market as a whole, a gap of 1.2 points. Small gaps like this are common, so they don't point to anything specific.
Trend has turned
−5.0% over 7 days and +1.1% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Gas
Overview
Gas is a cryptocurrency specifically designed to facilitate transactions on the NEO blockchain, functioning as a utility token that allows users to pay for transaction costs and computational services. Its core mission is to enable a seamless and efficient ecosystem for decentralized applications (dApps) and smart contracts. Gas stands out due to its dual token model alongside NEO, where NEO acts as a store of value and governance token, while Gas serves as the backbone for transaction execution. This unique approach ensures that users can interact with the NEO platform without needing to hold a significant amount of NEO, ultimately promoting wider adoption and usability.
Technical Features
Gas operates on the NEO blockchain, which utilizes a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism. This consensus model enhances security by allowing a limited number of trusted nodes to validate transactions, thereby achieving higher throughput and scalability. Furthermore, Gas transactions are designed to be lightweight, reducing the overall cost of conducting operations on the network. Gas employs a unique mechanism where it generates additional tokens over time based on the amount of NEO held by a user, thereby incentivizing long-term holding and investment in the ecosystem. The use of smart contracts and the Neo Virtual Machine (NVM) enables developers to create a vast array of decentralized applications, contributing to Gas's robust technical framework.
Use Cases
Gas serves multiple use cases in the blockchain and cryptocurrency space. Primarily, it acts as the fuel for executing smart contracts and dApps on the NEO platform. Users need Gas to pay for transaction fees when interacting with these applications, which positions it as essential for decentralized finance (DeFi) initiatives built on the NEO blockchain. Additionally, Gas plays a role in governance by allowing holders to vote on network upgrades and changes. Moreover, its compatibility with various decentralized applications extends to non-fungible tokens (NFTs) and cross-border payments, showcasing its versatility within the ecosystem.
Development Background
Gas was introduced in tandem with the launch of the NEO platform in 2015 by Da Hongfei and Erik Zhang, the founders of the NEO blockchain. Since its inception, Gas has seen several key developments and updates aimed at enhancing its functionality and performance. Not noteworthy events include the transition of NEO to a decentralized asset management organization, which has facilitated greater community involvement. The active development by the NEO Foundation and contributions from various developers worldwide have forged Gas's path toward becoming a critical component of the blockchain landscape.
Community and Ecosystem
The Gas cryptocurrency benefits from a vibrant community and a robust ecosystem. With ongoing support from the NEO Foundation and numerous partnerships established with other blockchain projects, Gas has positioned itself as a significant player in the cryptocurrency market. A plethora of dApps, ranging from DeFi platforms to NFT marketplaces, are built on the NEO ecosystem, all of which rely on Gas for transaction execution. The community actively engages in discussions, development proposals, and events that promote knowledge-sharing and collaboration, further expanding the potential uses of Gas as a cryptocurrency.
Future Potential
The future potential of Gas appears promising, particularly due to NEO's continued growth and innovation in the blockchain space. Upcoming features noted on NEO's roadmap include enhanced scalability solutions that will potentially increase transaction speeds and decrease costs, making Gas an even more attractive utility token. Additionally, as the demand for decentralized applications continues to rise and the importance of gas fees in maintaining blockchain networks becomes more evident, Gas is likely to gain ubiquity as a currency for supporting these digital ecosystems. The strategic developments and increasing applications point toward a sustained relevance for Gas in the evolving landscape of cryptocurrencies.
Gas market
- Position by market cap among the coins we track.
- #177
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $83.19M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $1.26High $1.34
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $91.94
- Now 1% of itReached 15 Jan 2018 · Needs +7,083% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 64.99M GAS
- Coins that exist now and can be traded.
- The most coins that can ever exist. Some coins have no limit.
- No limit listed
- The most coins that can ever exist. Some coins have no limit.
Gas converter
1 Gas = $1.28
