How much gas currency is issued?

The total amount of Gas coins in circulation is approximately 11,993,668,909. Its issuance is affected by the following factors: block rewards, burning mechanism and network activity.

Gas coin issuance

Gas coin is the native token that supports the operation of the Ethereum network. Its issuance is determined by the following factors:

1. Block Reward

Each newly created Ethereum block will pay a certain number of Gas coins to miners as a block reward to reward them for verifying and adding transactions to in the blockchain. The current block reward is 2 Ethereum, of which 1.5 Ethereum is converted into Gas coins.

2. Destruction mechanism

The Ethereum network implemented a "London Hard Fork" and introduced the EIP-1559 proposal. The proposal introduces a new mechanism called "base fee" that will dynamically adjust the cost of Gas coins based on network congestion. These base fees are paid in Gas coins, which are then immediately destroyed, thereby reducing the supply of Gas coins in circulation.

3. Issuance limit

The Ethereum network does not have a predefined Gas coin issuance limit. However, due to the EIP-1559 burning mechanism, the supply of Gas coins in circulation will gradually decrease over time.

Current Gas Coin Issuance

As of the time of writing this article, the total number of Gas coins in circulation is approximately 11,993,668,909.

Future Gas coin issuance

Future Gas coin issuance will depend on several factors, including:

• Adjustment of block rewards
• The efficiency of the basic fee burning mechanism
• Activities on the Ethereum network and Usage

The price of Gas (GAS) has continued to fluctuate recently and is currently quoted at $3.32, with a 24-hour trading volume of $27 million. Over the past day, the value of GAS fell by 6.81%, reflecting the instability in the cryptocurrency market.

Despite the price drop, GAS still occupies an important position in the cryptocurrency space. As the native token of the NEO blockchain, it is the basis for blockchain smart contracts and application development. The circulating supply of GAS is approximately 65 million, the maximum supply is unknown, and the total supply is the same as the circulating supply, indicating that it has not yet been fully released.

Gas has a circulating market capitalization of approximately $216 million, ranking relatively high among all cryptocurrencies. Its price volatility may affect the health of the NEO ecosystem, as GAS is a necessary tool for using the platform’s applications and services. Investors and traders pay close attention to the price movement of GAS as its fluctuations can have an impact on the entire cryptocurrency market.

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