techstudypointETH stands for Ether, which is the native cryptocurrency of the Ethereum network.
Here’s a quick breakdown of what that means:
🌐 Ethereum (the platform)
- A blockchain-based platform that allows developers to build and deploy smart contracts and decentralized applications (dApps).
- Created by Vitalik Buterin and launched in 2015.
- Think of it like a programmable version of Bitcoin — instead of just sending money, you can run code on it.
🪙 Ether (ETH, the currency)
- The fuel that powers the Ethereum network.
- Used to pay for:
- Transaction fees (called “gas”)
- Running smart contracts
- Buying NFTs, DeFi tokens, etc.
- It’s the second-largest cryptocurrency by market cap (after Bitcoin).
🔧 Real-world uses of ETH:
- Sending money across borders
- Accessing decentralized finance (DeFi) apps
- Buying and selling NFTs
- Running DAOs (decentralized autonomous organizations)
If you’re ever wondering about the difference:
- Ethereum = the whole platform
- ETH or Ether = the digital currency you use on that platform
