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native cryptocurrency

A blockchain's inherent digital currency. Also called a "native token," "protocol token," "intrinsic token" or "built-in token." In the case of Bitcoin, its only purpose is a cryptocurrency, and its native symbol is BTC. Ethereum's native crypto is ether (ETH); however, along with NFTs and numerous other smart contract-based tokens, Ethereum hosts countless non-native cryptocurrencies. Every independent blockchain has its own native crypto that is used to reward miners and validators for adding blocks to the blockchain and as a payment medium for transaction fees. See Bitcoin, Ethereum and Ethereum token.

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