GAS is also known as NEO GAS and was designed to control the NEO network. NEO has two different coins. The first coin is the main cryptocurrency NEO and the other is NEO GAS, also known as GAS. In addition, both cryptocurrencies have a limit of 100 million coins. The GAS cryptocurrency is used to control the management rights to the NEO coin. These rights include, for example, accounting reconciliation and changes to network parameters. It is also planned for coins to be mineable, with this function not presently activated.
Inheriting from Neo Legacy, Neo N3 employs the dual-token mechanism, where NEO is used for governance and GAS is used for payment. Every time a smart contract is fulfilled it is verified by the NEO Blockchain. Companies on NEO blockchain must spend GAS to run their apps on the NEO system (e.g. smart contract registration fees) and this GAS is recycled back to NEO holders as well as newly generated GAS. As the NEO network grows, GAS produced by holding NEO will also increase.
