What currency is ETH?

Ethereum is a digital token of Ethereum, which is regarded as "Bitcoin version 2.0". It uses "Ethereum", a different blockchain technology from Bitcoin, a An open source public blockchain platform with smart contract capabilities, a resonance network composed of thousands of computers around the world. Developers need to pay Ethereum to support the operation of the application. Like other digital currencies, Ether can be bought and sold on the trading platform

Ether is a digital token of Ethereum and is considered It is "Bitcoin version 2.0" and uses the blockchain technology "Ethereum" that is different from Bitcoin. It is an open source public blockchain platform with smart contract functions and is composed of thousands of computers around the world. Resonance network. Developers need to pay Ethereum to support the operation of the application. Like other digital currencies, Ethereum can be bought and sold on the trading platform

ETH is the "fuel" that supports the Ethereum platform, and all intelligence running on the Ethereum platform Contracts and decentralized applications (dApps) both require Ethereum to pay fees. ETH is divided into small units Wei, Gas and Ether. Wei is the smallest unit, and Gas refers to the handling fee that needs to be paid for the transaction. The unit used is Gwei. Ether is the largest unit of ETH and is a form of currency.

ETH is the universal trading medium for tens of thousands of digital currencies and digital assets on the Ethereum platform. ETH can be directly traded and held like other digital currencies (such as Bitcoin), and can also be used to support other decentralized applications and smart contracts. In addition, ETH also supports ERC-20 tokens, which are smart contract standards based on the Ethereum platform. As a result, ETH has become one of the financing methods for many Participatory Initial Coin Offerings (ICO).

ETH has good decentralization characteristics. Blockchain technology guarantees strong encryption, non-tamperability and irreversibility under a decentralized system. The smart contracts on the Ethereum platform have completely changed the user experience in the financial industry in the new blockchain era. Smart contracts have been used by many industries as solutions for different industries, such as insurance, real estate, data privacy and many other scenarios, and will definitely be more widely used in the future.

ETH is a platform based on Ethereum technology, creating a new economic ecosystem that brings digitization and the transparency and efficiency of blockchain technology to users around the world. ETH is considered a digital asset that can be invested and traded. Its price fluctuates like other digital assets (such as Bitcoin) and is affected by the industry and market.

In short, ETH is a very important digital currency and an integral part of the blockchain world. As a basic protocol, ETH carries the trading medium for tens of thousands of digital currencies and digital assets on the Ethereum platform, and provides support for applications such as smart contracts. With the development of blockchain technology and the expansion of application scenarios, the application prospects of ETH are immeasurable.

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