$ETH "ETH" commonly refers to Ether, which is the native cryptocurrency of the Ethereum blockchain platform.

Here's a breakdown of what that means:

Ethereum: The Platform

* Decentralized Blockchain: Ethereum is a decentralized, open-source blockchain network. This means it's not controlled by any single entity (like a government or company) and its data is distributed across a network of computers (nodes).

* Smart Contract Functionality: Unlike Bitcoin, which is primarily a digital currency, Ethereum was designed to be a "programmable blockchain." Its key innovation is the ability to execute "smart contracts."

* Smart contracts are self-executing agreements written in code that live on the blockchain. They automatically enforce the terms of an agreement when certain conditions are met, without the need for intermediaries. This allows for the creation of transparent, secure, and tamper-proof applications.

* Decentralized Applications (dApps): The smart contract functionality enables developers to build and deploy a wide range of decentralized applications (dApps) on the Ethereum network. These dApps can cover various industries, including finance (DeFi), gaming, supply chain, and more.

* Ethereum Virtual Machine (EVM): The Ethereum network operates through the Ethereum Virtual Machine (EVM), which acts like a global, decentralized computer that executes smart contract code and processes transactions.

* Proof-of-Stake (PoS): Ethereum transitioned from a Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake (PoS) in 2022 (known as "The Merge"). In PoS, network participants called "validators" stake (deposit) ETH as collateral to propose and validate new blocks of transactions. This process is more energy-efficient than PoW.

Ether (ETH): The Cryptocurrency

* Native Currency: ETH is the fundamental cryptocurrency of the Ethereum platform.

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