Ether

Share
Reading Time: < 1 minute

Ether is the native token of the Ethereum blockchain that facilitates all transactions. Sometimes, Ether is considered the same as Ethereum, even though the two are different entities. Ethereum is the name of the blockchain platform, while ETH refers to a digital cryptocurrency that runs on top of it.

A gas fee must be paid for every transaction executed in the Ethereum ecosystem. The gas fee varies depending on the network congestion and the user’s preferences. The fee is paid in ETH.

In the past, new Ethers are created whenever miners verify a new block of transactions. But, as Ethereum now switches to Proof-of-Stake, new ETH will be created through the staking mechanism. You can purchase ETH through a crypto exchange platform. Learn more about ETH and Ethereum in the following article.

Explore Other Vocabulary ‚Üí