This compound is primarily used in peptide synthesis and biochemical research. It serves as a building block for creating more complex peptide structures, particularly in the development of pharmaceuticals and bioactive molecules. Its application is significant in studying enzyme interactions, receptor binding, and metabolic pathways. Additionally, it is utilized in the preparation of peptide-based drugs targeting various diseases, including neurological disorders and cancer. Its stability and solubility make it a preferred choice in laboratory settings for peptide modification and characterization studies.