Technically, ETH (full name: Ethereum) is an open-source public blockchain platform with “smart contract” function. Comparing to the Bitcoin blockchain, Ethereum is a programmable, visualized and more accessible blockchain that allows anyone to compose smart contracts and create tokens.

 

Like Bitcoin, Ethereum is decentralized, which means the entire network jointly conduct the bookkeeping, and the ledger is open, transparent and tamper-proof. However, unlike Bitcoin, Ethereum is a programmable blockchain that provides a Turing-complete scripting language (Ethereum Virtual Machine code, or EVM code). Therefore, developers can program directly in advanced languages like C, then convert it into assembly language, which greatly reduces the difficulty of blockchain application development.

 

From the point of tokens, ETH is also known as Ether, the token on the Ethereum blockchain, which is used to pay for transaction fees and computing services on Etherum. The “ETH” symbol we see on cryptocurrency exchanges usually refers to Ether.