Ether is a transactional token that facilitates transactions on the Ethereum network.
Although ether can be considered as a cryptocurrency of the Ethereum network, figuratively speaking, it is more correct to call it the “fuel” of the network.
Ethereum technology uses blockchain development to replace the storage of consumer data, including financial records, by third-party internet companies.
Ether is the world’s second virtual currency by market capitalization in 2021; in terms of market value, it is second only to bitcoin (BTC).
Ethereum developers started working on migrating the network from Proof of Work (PoW) to Proof of Stake (PoS) in 2017; the new underlying network is known as Ethereum 2.0 and it is not fully released yet.
Cryptocurrency is a form of digital asset based on a network distributed over a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.