Used as a surface modifier in nanotechnology, particularly for stabilizing gold nanoparticles due to its thiol group binding strongly to metal surfaces. Acts as a capping agent in the synthesis of quantum dots and other nanomaterials, controlling particle growth and preventing aggregation. Employed in self-assembled monolayers (SAMs) for creating hydrophobic surfaces and in sensor development where surface functionalization is critical. Also utilized in organic synthesis as a protecting group or intermediate in the preparation of sulfides and other sulfur-containing compounds. Its long hydrocarbon chain contributes to low water solubility and high affinity for nonpolar environments, making it useful in phase transfer applications and interfacial chemistry.