There are many cryptocurrencies and many other tokens on Ethereum, but there are some things that only Ether can do.
ETH makes Ethereum run and keeps Ethereum secure
Ether is the lifeblood of Ethereum. Whether you send Ether or use Ethereum applications, you need to pay fees in Ether to use the Ethereum network. This fee acts as an incentive to reward the block producers who process and verify the actions you want to perform.
Validators are like record keepers for Ethereum — they check and prove that no one is cheating. Validators are randomly picked to propose blocks of transactions. Validators who do this work are also rewarded with a small amount of newly issued ether.
The work that validators do, and the capital they stake, keeps Ethereum secure and safe from centralized control. ETH powers Ethereum.
When you stake ether, you help keep Ethereum secure and get rewarded. In this system, the threat of losing ether is a deterrent to attackers.
ETH is the foundation of the Ethereum financial system
The Ethereum community is not content with just payments, they are building a complete peer-to-peer financial system that is open to everyone.
You can use ETH as collateral to generate completely different cryptocurrency tokens on Ethereum. In addition, you can borrow, lend, and earn interest on ETH and other Ethereum-powered tokens.
The number of ETH users is growing every day
Because Ethereum is a platform that provides various modules for users to build applications
Back in 2015, all you could do was send ETH from one address to another, but now it's a very small thing you can do.
- Circulate ETH(opens in a new tab) – Lightning payments.
- Exchange tokens – You can trade ETH with other tokens including Bitcoin.
- Earn interest(opens in a new tab) – About ETH and other Ethereum-based tokens.
- Get stablecoins – More stable and less volatile in the world of cryptocurrencies.
