Ethereum is a decentralized platform in blockchain and Ether (ETH) is the cryptocurrency asset for Ethereum and it is the second most popular cryptocurrency after BTC. But unlike other cryptocurrencies such as Bitcoin, Ethereum is much more than just a normal cyptocurrency or a store of value. Instead, Ethereum calls itself a decentralized data network based on blockchain technology.
Ethereum operates on a blockchain network like other cryptocurrencies. A blockchain is a decentralized, distributed public records where all transactions are recorded and verified and everyone participating in the Ethereum network has an identical copy of these records, so they can see all previous transactions.
For “mining” or solving complex mathematical equations that confirm each transaction and for adding new blocks to the blockchain participants get rewarded with cryptocurrency tokens (called Ether – ETH in the Ethereum system).
ETH can be used to buy and sell services and goods like BTC or other cryptocurrencies.
With Ethereum users not only can buy services and goods but also they can build applications that “runs” on blockchain.
This site is the result of our team’s months of efforts to create a credible website to track ETH and NFT gas prices.
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