Gas (GAS) Price

Two native tokens are built into Neo, Neo (abbreviation NEO) and neogas (abbreviation gas). Neo is a management token with a total amount of 100million, which is used to realize the management right of Neo network. Management rights include voting for bookkeeper election, Neo network parameter change, etc. The minimum unit of Neo is 1, which cannot be divided. Gas is a fuel token with a maximum total amount of 100million, which is used to control the resources used in the Neo network. Neo network charges for the operation and storage of token transfer and smart contracts, so as to achieve economic incentives for bookkeepers and prevent resource abuse. The minimum unit of gas is 0.00000001. In the creation block of Neo network, 100million Neo copies have been generated, while gas has not yet been generated. The number is zero. 100million gas corresponding to 100million Neo will be gradually generated into the address of Neo management token in about 22 years through a decay algorithm. After the Neo management token is transferred to the new address, the subsequent gas will also be generated at the new address. Neo network will set a threshold through voting, and run storage free gas for a certain amount of transfer transactions and smart contracts to improve the use experience. When a large number of junk transactions occur, transactions and smart contracts with qualified identities can be preferentially processed through Neoid. Transactions and smart contracts without qualified digital identities can be prioritized by paying gas.