ETH

Definition:

ETH is shorthand for Ether. It is the second largest digital currency by market cap apart from Bitcoin. It’s common for noobs to mix up Ethereum and ETH. Ethereum is the blockchain while ETH is the network’s native token. An even more noob mistake is to confuse it with Ethereum classic, which is the old fork of Ethereum and is not really maintained. ETH is the lifeblood of Ethereum. When you send ETH or use an Ethereum application (dApp), you pay network fees called gas in ETH. The fee incentivizes network miners to process and verify transactions. ETH can be divided up to 18 decimal places so you don’t have to buy 1 whole ETH. For e.g. you can buy as little as 0.000000000000000001 ETH if you want.

Degen Chat

“Let’s check what these ETH gas fees are today… $300 to mint an NFT?!!! Holy Sh*it!!”