How does cETH work?

cETH is a decentralized Ethereum-based token that is designed to provide users with an easy and secure way to store, trade, and use Ethereum.

It is a decentralized version of the popular cryptocurrency Ethereum, which allows users to access the same features as Ethereum but without the need for a centralized third party. The cETH token works by using a smart contract system that allows users to securely store their ETH tokens in a secure wallet. This wallet is then connected to the cETH network, which is secured by a network of nodes.

The nodes are responsible for verifying transactions on the network and ensuring that all transactions are valid. When users want to send or receive ETH tokens, they can do so through the cETH network. The transaction will be verified by the nodes on the network and then broadcasted across the entire network.

Once it has been verified, it will be added to the blockchain and become part of the public ledger. This ensures that all transactions are secure and immutable. In addition to providing users with an easy way to store and trade ETH tokens, cETH also provides users with access to various decentralized applications (dApps).

These dApps can be used for various purposes such as trading, lending, staking, and more. By using cETH tokens as collateral for these dApps, users can access more features than they would have access to if they were using traditional fiat currencies or other cryptocurrencies.