Gas

Gas is a cryptocurrency developed by the Neo Foundation, serving as processing fees for the Neo coin. The hashing algorithm employed by Neo is Proof of Stake (PoS), where block processing power is proportional to the number of tokens held by miners. This contrasts with the Proof of Work method that relies on a miner's mining power to create a new block.

Neo holders receive a set amount of Gas each month, similar to Ethereum's concept of 'gas'. This serves as transactional power and can be seen as interest generated through PoS mining. Initially, around one Neo was rewarded daily for every 1000 Neos held, although this rate decreases over time due to design algorithms. However, this decrease is balanced by price increases.

Gas shares a close relationship with Neo and often mirrors its performance trends. This relationship is essential for smooth financial movements within the cryptocurrency market.

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