What is the difference between NEO and NEO Gas?

3 answers

• Dec 16, 2021 · 3 years ago
  NEO and NEO Gas are both integral parts of the NEO blockchain. NEO is the native cryptocurrency of the NEO platform and serves as a means of exchange and store of value. It can be used for transactions, smart contracts, and as a form of digital asset. On the other hand, NEO Gas, also known as GAS, is the fuel that powers the NEO network. It is generated by holding NEO in a compatible wallet and can be used to pay for transaction fees and participate in network governance. While NEO represents ownership of the blockchain, NEO Gas is used to facilitate its operation and maintain the network's functionality.
  612306
• Dec 16, 2021 · 3 years ago
  Think of NEO as the digital currency and NEO Gas as the utility token within the NEO ecosystem. NEO is similar to Bitcoin or Ethereum, where it can be bought, sold, and traded on various exchanges. On the other hand, NEO Gas is not directly tradable but can be earned by holding NEO in a compatible wallet. NEO Gas is used to pay for network fees and incentivize users to hold NEO. So, while NEO represents the ownership of the NEO blockchain, NEO Gas is used to power the network and provide economic incentives for participants.
  530177
• Dec 16, 2021 · 3 years ago
  NEO and NEO Gas are like two sides of the same coin. NEO is the primary token that represents ownership and voting rights within the NEO ecosystem. It is used for participating in ICOs, smart contracts, and general transactions. On the other hand, NEO Gas is the secondary token that is generated by holding NEO. It is used to pay for transaction fees and to incentivize network participants. The amount of NEO Gas generated depends on the amount of NEO held. So, the more NEO you hold, the more NEO Gas you earn. Both NEO and NEO Gas play important roles in the NEO ecosystem, with NEO Gas serving as the fuel that powers the network's operations.
  648162