ETH, short for Ethereum, is a decentralized platform that enables the creation and execution of smart contracts and decentralized applications (DApps). It serves as the native cryptocurrency on the Ethereum network and is used to pay for transaction fees and computational services.
ETH operates on a blockchain technology similar to that of Bitcoin, but with added capabilities such as the ability to create and interact with smart contracts. These contracts are self-executing agreements with the terms of the agreement directly written into code.
Users can mine ETH or purchase it on various cryptocurrency exchanges. ETH can also be stored in digital wallets and used for transactions within the Ethereum network.
Ethereum was founded by Vitalik Buterin in 2015 and has since grown to become one of the largest cryptocurrencies by market capitalization. Its versatility and the ability to create DApps on its platform have made it a popular choice for developers looking to build decentralized applications.
