Ether (ETH) is the cryptocurrency of the EthereumEthereumAn open blockchain that can run applications and smart contracts, with its own cryptocurrency called ether (ETH). network. Ethereum is the network and the system, while ether is the currency you buy, hold and send. People often say "Ethereum" when they mean the coin, but its proper name is ether.
What is ether used for?
- Paying to use the network. Every transaction and every smart contract action costs GasGasThe unit that measures the computing work a transaction or smart contract needs on Ethereum, which sets how high the network fee is., which is paid in ether.
- Securing the network. Validators lock up ether under proof of stakeProof of stakeA consensus method where crypto is locked up as a stake for the right to create blocks, and anyone who cheats can lose part of that stake. and earn rewards for it. This is often called StakingStakingLocking up crypto on a proof-of-stake network to help confirm transactions, in return for rewards paid in the same crypto..
- As money and an asset. People send ether to each other, hold it as an asset and use it in applications on the network.
Units
Ether is divided into smaller units. The smallest is called wei, and one ETH is a quintillion wei, a 1 followed by 18 zeros. Fees are usually quoted in gwei, which is one billionth of an ETH.
Supply
Unlike bitcoin, ether has no fixed maximum supplyMaximum supplyThe largest number of units of a cryptocurrency that can ever exist under its rules, such as 21 million for bitcoin.. New ether is issued as a reward to validators, while part of every transaction fee is burned and removed from circulation. Whether the supply grows or shrinks depends on how busy the network is. In October 2026, just over 122 million ETH were in circulation.
Everything in Myntkaup Learn is written and regularly reviewed by the Myntkaup editorial team. It is for education and is not investment advice. Editorial policy. Updated 18 October 2026.