$ETH When you refer to "$ETH," you're likely asking about Ethereum and its native cryptocurrency, Ether (ETH). Here's a breakdown:
What is Ethereum?
Ethereum is a decentralized, open-source blockchain platform with smart contract functionality. It's more than just a cryptocurrency; it's a global software platform that enables developers to build and run decentralized applications (dApps). Think of it as a programmable blockchain.
Key features and concepts:
* Decentralized: No single entity controls Ethereum. It's maintained by a network of computers worldwide.
* Smart Contracts: These are self-executing agreements with the terms directly written into lines of code. They automatically execute when certain conditions are met, eliminating the need for intermediaries. Ethereum was a pioneer in popularizing smart contracts and they are a fundamental building block for decentralized finance (DeFi) and non-fungible token (NFT) applications.
* Ether (ETH): This is the native cryptocurrency of the Ethereum platform. It's used to pay for transaction fees (gas fees) on the network and can also be used for goods and services where accepted.
* Proof-of-Stake (PoS): Ethereum transitioned from a "proof-of-work" (PoW) consensus mechanism to "proof-of-stake" (PoS) with "The Merge." In PoS, participants "stake" their ETH to validate transactions and add new blocks to the blockchain, earning rewards in return. This is a more energy-efficient method than PoW.
* Ethereum Virtual Machine (EVM): This is the runtime environment for smart contracts on Ethereum. When a transaction triggers a smart contract, all nodes in the network execute its instructions.
* Scalability and Layer 2 Solutions: Ethereum is constantly working on improving its scalability. Layer 2 solutions are built on top of the main Ethereum blockchain to handle transactions more efficiently and at a lower cost.
ETH Price and Market Information (as of June 11, 2025):
* Current Price: Approximately $2,840.33 USD (or 796,100.30 Pakistani Rupee).
* Market Cap: Around $346.25 billion USD.
