Bitcoin
Bitcoin
BTC
$103,510.00
1d: +0.33%
7d: +7.59%
$103,510.00
+0.33%
Ethereum
Ethereum
ETH
$2,497.15
1d: +6.54%
7d: +36.67%
$2,497.15
+6.54%
Polkadot
Polkadot
DOT
$5.11
1d: +5.49%
7d: +26.42%
$5.11
+5.49%
Solana
Solana
SOL
$173.15
1d: +0.81%
7d: +17.27%
$173.15
+0.81%
XRP
XRP
XRP
$2.44
1d: +3.14%
7d: +10.87%
$2.44
+3.14%
Shiba Inu
Shiba Inu
SHIB
$0.00001623
1d: +7.93%
7d: +24.19%
$0.00001623
+7.93%

ETH

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Table of contents
    1. 0.2. How ETH Works
    2. 0.4. Key Uses of ETH
    3. 0.6. ETH’s Role in Ethereum’s Ecosystem
    4. 0.8. In Summary

ETH, short for Ether, is the native cryptocurrency of the Ethereum blockchain. It is used to pay for transaction fees, computational services, and to power decentralized applications (dApps) within the Ethereum network. ETH plays a key role in facilitating the decentralized and programmable nature of the Ethereum ecosystem.

How ETH Works

ETH functions as both a digital currency and a means of accessing resources within Ethereum. When users send transactions or interact with smart contracts, they must pay gas fees, which are typically paid in ETH. The price of ETH can fluctuate based on demand and the overall activity in the Ethereum network.

Key Uses of ETH

ETH serves multiple purposes within Ethereum, including:

  • Transaction fees (gas fees) for network activities
  • Staking in Ethereum’s Proof-of-Stake (PoS) consensus mechanism
  • As a store of value and medium of exchange

ETH’s Role in Ethereum’s Ecosystem

ETH is central to Ethereum’s functionality, enabling the execution of smart contracts and decentralized applications. Its utility as both a cryptocurrency and a resource for network activities ensures its continued importance in the Ethereum ecosystem.

In Summary

ETH is the primary cryptocurrency of Ethereum, used for transactions, smart contract execution, and as a key asset for Ethereum’s PoS consensus mechanism.