What is Ether (ETH)?

Ether is the internal cryptocurrency that fuels Ethereum blockchain, abbreviated as ETH. Like Bitcoin, Ether is a peer-to-peer cryptocurrency, but also it is a programmable currency which serves several other purposes.

Ethereum is not only a cryptocurrency, it is a platform which stores and executes computer codes. Running and storing smart contracts on Ethereum requires storage and computer power. Users must pay for the network’s computational power and storage, which is paid in Ether.