Ether (ETH) is the native cryptocurrency of the Ethereum blockchain, a leading platform for decentralized applications (dApps) and smart contracts. Launched in 2015, Ethereum allows developers to build and deploy a wide range of applications without the need for intermediaries.
Functions and Uses of ETH
ETH doesn't just function as a medium of exchange or a store of value like Bitcoin; it also acts as "gas" or transaction fees for operations on the Ethereum network. This means every action on the blockchain, such as sending tokens or executing smart contracts, requires a small amount of ETH. Ethereum has become the backbone for innovations like decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs), making it one of the most significant crypto assets in the market.
