Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
In 2014, a crowdfunded project led by Vitalik Buterin created Ethereum with the intention of building upon the success of Bitcoin. Where Bitcoin’s blockchain is used to track ownership of the digital currency, Ethereum’s blockchain can be used to build decentralized applications.
The native token of the Ethereum network is called Ether. It is used to pay for transaction fees and gas, which is a unit of measure used to compute the amount of computational resources required to run a transaction or smart contract.
Ether can also be held as a digital asset and traded on cryptocurrency exchanges. The price of Ether has fluctuated wildly since its launch, from less than $1 in early 2016 to more than $1,000 in early 2018.
Ethereum’s popularity has been fueled by its use of smart contracts, which allow developers to create decentralized applications that can be used by anyone without the need for a middleman. This has led to the development of a wide range of Ethereum-based applications, from financial services to games and more.
The Ethereum network is also home to a number of popular decentralized exchanges, which allow users to trade Ether and other cryptocurrencies in a trustless environment.
What Is Native Token Ethereum? – Conclusion
The native token of the Ethereum network is called Ether.
Ether can also be held as a digital asset and traded on cryptocurrency exchanges.