what is the use of gas ?

[CJorbon17]

what is the use of gas ? It is also only for trading ?

[1714609540]

1714609540

[1714609540]

1714609540

[1714609540]

1714609540

[1714609540]

1714609540

[1714609540]

1714609540

[cellard]

what is the use of gas ? It is also only for trading ?

As far as I know, gas are fees in Ethereum. The more gas you pay, the faster your transaction gets mined. Not sure what the role of gas will be once Ethereum goes Proof of Stake tho.

Example of gas usage: In the ICO's, rich whales used tons of gas to get their transactions go faster than the rest and get massive stakes on ICO's, so a lot of non rich people weren't able to buy the most hyped ICO's.

[BogdanGFTP]

It's fee for your transactions which you pay for miners that provide your it

[vitja2002]

Gass is a small amount of ETH currency that is used to transfer tokens around the ethereum network. The more gas that is used for a transfer it incentives miners to complete a transaction quicker on the network.

because they earn more.

[shekt4]

Gas is also a token on the neo blockchain, i dont know the difference between eth gas and neo gas

[Agremlins]

For ETH, gas = fees
You can check on this website http://ethgasstation.info/ the real amount to be used for gas.

For Neo :
The NEO token is representative of shares in the Neo market, and cannot be divided. NEO holders get voting rights in the NEO ecosystem as well as rights to dividends in the form of GAS.
Users pay in GAS to deploy and run smart contracts. Fees are proportional to the computing resources consumed by the contract

So we can compare ETH and GAS but not ETH and NEO.

[cryptochr]

Gas is the transportation fees, and is determined by the speed of transaction and the number of coins transfered.