#EthereumSecurityInitiative AI Overview



+3

ETH stands for Ether, which is the native cryptocurrency of the Ethereum blockchain. It is used to pay for transactions and network fees, and it also serves as a store of value. Essentially, ETH is the fuel that powers the Ethereum network.
Here's a more detailed breakdown:
Ethereum is a decentralized blockchain platform that enables the creation and deployment of smart contracts and decentralized applications (dApps).
Ether (ETH):
Ether is the cryptocurrency that runs on the Ethereum blockchain.
Function:
ETH is used to pay for transactions on the Ethereum network, particularly the "gas" required to execute smart contracts.
Value:
ETH can be bought and sold on cryptocurrency exchanges and is also used as a store of value by many.
Elastic Supply:
The supply of ETH fluctuates based on the amount of ETH staked and is also burned on every transaction, making it an elastic supply.
