NEO Gas (GAS) Token Sparks Following Neo’s New Chapter Announcement

NEO Gas (GAS) Token Sparks Following Neo’s New Chapter Announcement

NEO Gas (GAS) Token Sparks Following Neo's New Chapter Announcement

/ Neo’s GAS token surges 32% as Neo unveils new chapter, bringing resistance to MEV attacks and EVM compatibility to the Smart Economy.

By Nilesh Hembade.

Date: 28 Oct 2023, 14:10 PM IST

In a whirlwind of excitement, Neo, the pioneering Open Network for the Smart Economy, has taken center stage with its utility token, GAS, surging by an impressive +32% in the past 24 hours. The GAS token is currently trading at $4.14, flaunting a substantial market capitalization of $41 million. Fueling this frenzy is a remarkable +276% surge in the 24-hour trading volume of GAS.

This fervent rally has been ignited by Neo’s latest and most thrilling revelation to date—the commencement of a new chapter in its journey.

Neo Announces a New Chapter:

Neo has officially disclosed its strategic move towards creating a sidechain that boasts resistance to MEV (Miner Extractable Value) attacks and compatibility with the Ethereum Virtual Machine (EVM). This groundbreaking sidechain project will inherit the esteemed economic model and Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism of Neo N3, ensuring a seamless transition into a new era of decentralized innovation.

What sets this development apart is not just the ambitious vision but the timing of it all. The Neo community can look forward to witnessing the fruits of this labor by the end of 2023 when the sidechain is expected to be unleashed upon the world.

The Role of $GAS in Neo’s Ecosystem:

In the grand scheme of Neo’s dual token model, GAS takes center stage as the utility token that powers the ecosystem. GAS is the lifeblood of Neo’s Smart Economy, serving various essential functions. It facilitates transactions, interactions, and purchases within the Neo network, making it an indispensable component in the Neo ecosystem’s vibrant tapestry.

With this announcement, the native token NEO was also in action yesterday, as it was up by +15%.


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