$ETH Ethereum is a blockchain platform that is not just a cryptocurrency, it is a whole platform where developers can create different types of applications.

Let's take a closer look at why it is used:

* Smart Contracts: Ethereum allows the creation of smart contracts. This is code that runs on its own and automatically acts when certain conditions are met. It can be used to create many types of applications, such as digital currencies, supply chain management, voting systems, etc.

* Decentralized Applications (dApps): Decentralized applications can be created on Ethereum. These applications are not controlled by a single entity, but rather are managed through a decentralized network.

* Tokens: Different types of tokens can be created on Ethereum. These tokens are used for various projects, such as crowdfunding, gaming, and others.

* Finance: Ethereum is a popular platform for decentralized finance (DeFi). DeFi applications act as an alternative to the traditional banking system and provide loans, borrowing, and other financial services.