-
Bitcoin
$96,192.60
-0.30% -
Ethereum
$3,505.26
5.57% -
Tether USDt
$1.00
-0.03% -
Solana
$243.30
-1.46% -
BNB
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0.31% -
XRP
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7.19% -
Dogecoin
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1.08% -
USDC
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0.03% -
Cardano
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2.59% -
Avalanche
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8.61% -
TRON
$0.2002
-1.61% -
Toncoin
$6.20
3.48% -
Stellar
$0.5096
7.61% -
Shiba Inu
$0.0...02562
2.85% -
Polkadot
$8.59
1.47% -
Chainlink
$18.62
11.85% -
Bitcoin Cash
$518.03
4.60% -
Sui
$3.29
-0.90% -
Pepe
$0.0...01969
0.51% -
NEAR Protocol
$6.72
4.43% -
UNUS SED LEO
$8.28
-2.83% -
Litecoin
$96.31
2.54% -
Uniswap
$12.07
16.47% -
Aptos
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6.38% -
Internet Computer
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12.94% -
Dai
$0.9996
-0.04% -
Hedera
$0.1398
-0.70% -
Cronos
$0.1860
1.44% -
Ethereum Classic
$31.44
13.04% -
POL (ex-MATIC)
$0.5834
8.16%
What is ETH? Learn ETH in one minute
As the native cryptocurrency of the Ethereum blockchain, ETH serves as a transaction fee, gas unit, and staking reward, fueling the platform's operations and decentralized applications.
Oct 24, 2024 at 09:09 pm
What is ETH? Learn ETH in One Minute
1. What is ETH?
Ether (ETH) is the native cryptocurrency of the Ethereum blockchain, a decentralized, open-source platform for smart contracts and decentralized applications (dApps).
2. Purpose of ETH
ETH serves several functions on the Ethereum network:
- Transaction fees: Users pay ETH to execute transactions and deploy smart contracts on the network.
- Gas: ETH serves as a unit of gas, which measures the computational effort required to process transactions.
- Staking: ETH holders can stake their coins to participate in the network's proof-of-stake consensus mechanism, earning rewards in return.
3. Ethereum Blockchain
Ethereum is a decentralized blockchain that runs on a peer-to-peer network. It enables developers to build and deploy smart contracts, which are self-executing contracts with predefined rules that are stored and executed on the blockchain.
4. Use Cases of ETH
ETH is used in various applications on the Ethereum blockchain, including:
- Running dApps
- Making and receiving payments
- Participating in decentralized finance (DeFi) activities
- Storing and managing other digital assets
5. ETH Security
The Ethereum network is secured by a proof-of-stake consensus mechanism, where validators stake ETH to validate transactions and secure the network.
In summary, ETH is the native cryptocurrency of the Ethereum blockchain, which serves as a medium of exchange, a unit of gas, and a stake for securing the network. It is used in various applications on the Ethereum blockchain, including executing transactions, deploying smart contracts, and participating in DeFi activities.
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