There are many cryptocurrencies and lots of other tokens on Ethereum, but there are some things that only ETH can do.
ETH fuels and secures Ethereum
ETH is the lifeblood of Ethereum. When you send ETH or use an Ethereum application, you’ll pay a small fee in ETH to use the Ethereum network. This fee is an incentive for a miner to process and verify what you’re trying to do.
Miners are like the record-keepers of Ethereum – they check and prove that no one is cheating. Miners who do this work are also rewarded with small amounts of newly-issued ETH.
The work miners do keeps Ethereum secure and free of centralized control. In other words, ETH powers Ethereum. More on Mining
ETH will become even more important with staking. When you stake your ETH you’ll be able to help secure Ethereum and earn rewards. In this system, the threat of losing your ETH disincentivises attacks. More on staking
Uses for ETH grow every day
Because Ethereum is programmable, developers can shape ETH in countless ways.
Back in 2015, all you could do was send ETH from one Ethereum account to another. Here are just some of things you can do today.
- Stream ETH – pay someone or receive funds in real time.
- Swap tokens – you can trade ETH with other tokens including Bitcoin.
- Earn interest – on ETH and other Ethereum-based tokens.
- Get stablecoins – access the world of cryptocurrencies with a steady, less-volatile value.