What is GAS: Understanding the Global Addressing System in Network Communications

Gas: Positioning and Significance

In 2014, NEO (formerly known as Antshares) introduced Gas (GAS) as an integral part of the NEO blockchain ecosystem. Gas is designed to address the need for resource control and economic incentives within the NEO network.

As the fuel token of the NEO blockchain, Gas plays a crucial role in the operation of smart contracts, asset management, and network governance. It serves as a means to prevent resource abuse and incentivize network participants.

As of 2025, Gas has become a key asset in the NEO ecosystem, supporting the network's smart economy vision. With a market cap ranking of 293, Gas continues to be an essential component for developers and users interacting with the NEO blockchain.

Origin and Development History

Birth Background

Gas was created alongside NEO in 2014 by the founders of the NEO project. Its primary purpose was to solve the challenge of resource allocation and usage within a blockchain network.

Gas was born during the early stages of smart contract platforms, aiming to provide a more efficient and user-friendly approach to network resource management. The introduction of Gas brought new possibilities for developers and users in the blockchain space, allowing for more granular control over network resources.

Important Milestones

• 2014: NEO project (then Antshares) launched, introducing the concept of Gas.
• 2017: Rebranding from Antshares to NEO, solidifying the role of Gas in the ecosystem.
• 2020: NEO 3.0 development began, enhancing Gas utility and network efficiency.
• 2021: NEO 3.0 mainnet launch, introducing significant improvements to the Gas model.

With support from the NEO Foundation and a growing community of developers, Gas continues to evolve alongside the NEO blockchain, enhancing its utility and integration within the broader blockchain ecosystem.

How Does Gas Work?

Decentralized Control

Gas operates on the decentralized NEO blockchain network, free from control by any single entity such as banks or governments. Nodes across the globe collaborate to validate transactions, ensuring system transparency and attack resistance. This decentralized nature empowers users with greater autonomy and enhances network resilience.

Blockchain Core

The NEO blockchain, where Gas transactions are recorded, is a public, immutable digital ledger. Transactions are grouped into blocks and linked through cryptographic hashes, forming a secure chain. Anyone can view these records, establishing trust without intermediaries. NEO's unique dBFT (delegated Byzantine Fault Tolerance) consensus mechanism further enhances performance and finality of transactions.

Ensuring Fairness

NEO utilizes the dBFT consensus mechanism to validate transactions and prevent fraudulent activities like double-spending. Consensus nodes, elected by NEO holders, maintain network security by validating blocks and transactions. These nodes are rewarded with Gas for their services. This system innovates by providing faster transaction finality and higher energy efficiency compared to traditional PoW systems.

Secure Transactions

Gas employs public-private key cryptography to secure transactions:

• Private keys (like secret passwords) are used to sign transactions
• Public keys (like account numbers) are used to verify ownership

This mechanism ensures fund security while maintaining pseudonymity for transactions. Additional features like multi-signature capabilities enhance the security and flexibility of Gas usage within the NEO ecosystem.

GAS Market Performance

Circulation Overview

As of November 16, 2025, GAS has a circulating supply of 65,093,580.54427269 tokens, with a total supply of 65,093,580.54427269.

Price Fluctuations

GAS reached its all-time high of $91.94 on January 15, 2018.
Its lowest price was $0.621309, recorded on March 13, 2020.
These fluctuations reflect market sentiment, adoption trends, and external factors.

Click to view the current market price of GAS

GAS Ecosystem Applications and Partnerships

Core Use Cases

GAS's ecosystem supports various applications:

• Smart Contracts: Powering decentralized applications on the NEO blockchain.
• Network Fuel: Used to pay for transactions and smart contract operations on NEO.

Strategic Collaborations

GAS, as part of the NEO ecosystem, has collaborated with various partners to enhance its technological capabilities and market influence. These partnerships provide a solid foundation for GAS's ecosystem expansion.

Controversies and Challenges

GAS faces the following challenges:

• Technical Issues: Scalability concerns and transaction speed limitations.
• Regulatory Risks: Potential regulatory scrutiny in various jurisdictions.
• Competitive Pressure: Competition from other blockchain platforms and their native tokens.

These issues have sparked discussions within the community and market, driving continuous innovation for GAS and the NEO ecosystem.

GAS Community and Social Media Atmosphere

Fan Enthusiasm

The GAS community, as part of the broader NEO ecosystem, shows significant activity. On X, posts and hashtags related to GAS and NEO frequently gain traction. Factors such as price movements and new feature releases often ignite community enthusiasm.

Social Media Sentiment

Sentiment on X shows a mix of opinions:

• Supporters praise GAS for its role in powering the NEO blockchain and its utility in the ecosystem.
• Critics focus on issues such as price volatility and adoption challenges.

Recent trends indicate varying sentiment depending on market conditions and ecosystem developments.

Hot Topics

X users actively discuss GAS-related topics such as its role in the NEO ecosystem, price movements, and utility in smart contract operations. These discussions highlight both its potential and the challenges it faces in gaining mainstream adoption.

More Information Sources for GAS

• Official Website: Visit NEO's official website for information on GAS, its functions, use cases, and latest updates.
• Whitepaper: The NEO whitepaper, which includes information about GAS, details its technical architecture, objectives, and vision.
• X Updates: On X, NEO uses @neo_blockchain, which as of November 16, 2025, has a significant follower base. Posts cover topics such as technical upgrades, community events, and partnership news, generating substantial engagement.

Future Roadmap for GAS

• Ecosystem Goals: Support the growth of decentralized applications on the NEO blockchain.
• Long-term Vision: Become a key component in the global blockchain infrastructure, particularly for smart contract operations.

How to Participate in GAS?

1. Purchase Channels: Buy GAS on Gate.com
2. Storage Solutions: Use NEO-compatible wallets for secure storage
3. Participate in Governance: Engage in NEO community decisions which may impact GAS
4. Build on the Ecosystem: Visit NEO's developer documentation to build dApps or contribute code

Summary

GAS plays a crucial role in the NEO blockchain, providing fuel for transactions and smart contract operations. Its active community, rich resources, and strong market presence make it a unique player in the cryptocurrency space. Despite facing challenges such as regulatory uncertainties and technical bottlenecks, GAS's innovative spirit and clear roadmap as part of the NEO ecosystem position it importantly in the future of decentralized technologies. Whether you're a newcomer or an experienced player, GAS is worth watching and participating in.

FAQ

What is the simple definition of gas?

Gas is the fee paid to process transactions on blockchain networks, like Ethereum. It's similar to a transaction fee in traditional finance.

What does gas mean in medical terms?

In medical terms, gas refers to air or other substances in the digestive tract, often causing discomfort or bloating.

What is gas made of?

Gas in crypto is not a physical substance. It's a virtual fee paid in the blockchain's native cryptocurrency to process transactions and execute smart contracts.

What does gas mean in drug slang?

In drug slang, 'gas' typically refers to high-quality marijuana with a strong aroma, often compared to gasoline's smell.