Ethereum is a blockchain technology used for building apps and organizations, holding assets, transacting, and communicating without going through a central authority or middle man. Users keep control of all their own data, and choose what to share. Ethereum has its own cryptocurrency, known as ether (ETH), which is used to pay for certain activities on the Ethereum network.
Ethereum’s Cryptocurrency, ether (ETH)
Ether, Ethereum’s cryptocurrency, is often what people think of when they talk about buying ETH. If someone asks, “what is the price of Ethereum?”, what they are really asking is, ‘what is the price of ether?’. While the naming can be a little confusing at first, it is worth knowing the difference between the technology stack which is Ethereum and the cryptocurrency that is ether. Every action on the Ethereum network requires a bit of computational power. The fee to compensate for that power is paid for in ether. This means that you always need some ETH available to use the network.
