What is Neo (NEO)?

NEO and GAS (not to be confused with the gas fees native to the Ethereum network) are the two native cryptocurrencies of the Neo blockchain protocol. NEO acts as the primary currency for transactions and gives holders the right to vote on network proposals. Users can also earn GAS through staking their NEO. GAS is also used to pay for network usage: transaction fees, storage fees, and fees associated with executing smart contracts. All NEO coins were minted at the establishment of the protocol, and GAS coins are minted with every new block.