Cryptocurrencies underpin the peer-to-peer Ethereum financial system, accessible to everyone. In addition to supporting payments on the network, Ether has other use cases on the network, including:
Gas Fees: Ether facilitates payment of transaction fees, commonly known as gas, and the computational resources required to develop and deploy smart contracts and Ethereum applications such as dapps.
Powering Decentralized Applications: Ether is required to power decentralized applications built on Ethereum. The token facilitates staking, yield farming, and governance through voting.
Investment: You can earn interest by staking Ether and other Ethereum-based tokens on crypto staking platforms.
As for blockchain itself, it has found many different use cases that go far beyond simple transactions. One prominent application is in decentralized finance (defi), where Ethereum powers a thriving financial services ecosystem, including lending, borrowing, trading and earning interest, all All without the need for intermediaries.
