Ethereum · question
Q.04 of 30
What is Ether (ETH) and what are its primary uses?
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Ether (ETH) is Ethereum's native cryptocurrency. It serves multiple purposes:
- Gas fees: Pay for transaction execution and smart contract operations
- Staking: Validators stake ETH to secure the network (Proof of Stake)
- Store of value: Digital asset for investment and savings
- Medium of exchange: Payment method in DApps and DeFi protocols
- Unit of account: Pricing mechanism for tokens and services
ETH is divisible to 18 decimal places, with the smallest unit called "wei" (1 ETH = 10^18 wei).
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