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Just like the largest cryptocurrency, bitcoin (BTC), ether can be used to send payments directly to another person without the need for an intermediary.The long-term vision for Ethereum is to power more than just financial transactions.
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ETH is unique in its ability to fill the role of a capital asset, consumable/transformable asset, and as a store of value.The innovative qualities of Ethereum have led to an explosion of new digital assets in the Smart Contract Platform (SCP) sector.
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Every platform also utilizes a native token for the payment towards building on the platform, providing liquidity and allowing interoperability between the native token and the newly created tokens built on the platform.In December 2021, CoinDesk Indices launched its Digital Asset Classification Standard (DACS) to set the standard for defining the industries of digital assets.
Every one of the top 500 digital assets by market capitalization is assigned to an industry defined by DACS.
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Finally, at least one industry group is assigned to a sector.The SCP sector is the second-largest sector in DACS, with 88 assets representing over 35% of the digital asset market worth approximately $750 billion in market capitalization as of March 31, 2022.
In addition to the SCP sector, DACS offers five other sectors: Currency, Computing, Culture & Entertainment, DeFi (Decentralized Finance) and Digitization.
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