Getting Started Series 21 - How to use Ethereum?

Similar to Bitcoin transfers, Ethereum is indispensable for transactions in the Ethereum network. Ethereum is the native currency of the Ethereum network. This is a digital currency similar to Bitcoin issued on the Ethereum network.

You can obtain Ethereum through the following channels:

• Buy Ethereum on a cryptocurrency exchange
• Exchange Ethereum with people near you
• Get Ethereum through mining

In addition, similar to a Bitcoin wallet, you also need an Ethereum wallet that specializes in storing Ethereum. There are various Ethereum wallets on the market, and many applications based on Ethereum are available.

Ethereum users can store Ethereum in the Ethereum wallet, and can also interact with smart contracts on the Ethereum network. Many wallets have these features. A wallet is an application that can conveniently save and transfer ETH, and at the same time can interact with applications built on Ethereum through the wallet.

Every transaction that occurs in the Ethereum network requires a certain amount of gas. Gas is a unit used to measure the computing power required to process transactions. Helping to verify that the information really needs to pay the cost of computing power to process the transaction and package it in the block, it should be compensated accordingly. In the Ethereum system, this is done by setting the gas price in each transaction, and the gas is in Gwei (1 ETH = 1,000,000,000 Gwei).

For example: It takes 21,000 gas for a user to send ETH from one account to another. If the gas price is set at 1 Gwei, the transaction costs 0.000021 ETH.