$ETH Ethereum is an open, decentralized blockchain platform that uses its native coin, Ether (ETH), to pay transaction fees (called "gas"). The platform has great potential. It can transfer currency and non-transferable tokens (NFTs), which can represent any assets, and perform advanced processes using the so-called "smart contracts". Developers can use the Ethereum network to run decentralized applications (dApps) and issue entirely new crypto assets known as ERC-20 tokens.