Ether what is it?
It’s worth noting that Ethereum is not the only blockchain that has its own native cryptocurrency. Just like ether, bitcoin is the native currency of the bitcoin blockchain, and other blockchains have their own native tokens as well.
However, what sets Ethereum apart is its programmability. While bitcoin is primarily used as a store of value and a medium of exchange, Ethereum’s programmability allows for the creation of more complex decentralized applications and financial networks. This is made possible by the use of smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into code.
Smart contracts allow for the creation of decentralized applications that are transparent, trustless, and run on a decentralized blockchain network. These applications can range from decentralized exchanges and lending platforms to social media networks and even games.
In summary, Ethereum is a decentralized blockchain network with smart contract functionality, while ether is the native cryptocurrency that powers the network and acts as the fuel for any activity on the blockchain, including the execution of smart contracts and transactions.