$ETH ETH stands for Ether, which is the native cryptocurrency of the Ethereum blockchain. Here's a quick overview:

Key Points:

Full Name: Ether (ETH)

Blockchain: Ethereum

Purpose: Used to pay for transactions (gas fees), smart contracts, and decentralized apps (dApps) on the Ethereum network.

Founded: Launched in 2015 by Vitalik Buterin and others.

Consensus Mechanism: Now uses Proof of Stake (PoS) after “The Merge” (2022), making it more energy-efficient.

Smart Contracts: Ethereum introduced smart contracts, allowing automatic and trustless agreements between users.