Ethereum is a platform for building distributed applications that benefit from consensus. Think of voting applications, social networks, ownership journals, banks, cryptocurrencies, etc. Simply put, Atheneum’s reach is massive and we’ll see a lot of Ethereum related news in the coming months. Although the platform needs several years to mature, version 1.0 is already out and many can benefit from the functionality that is already there.
Ethereum is a blockchain-based cryptocurrency that includes a virtual machine featuring stageful user-created smart contracts and a Turing-complete contract language. Ethereum uses its currency unit, Ether, as payment to incentives a network of peers to provide computational services defined by the smart contracts deployed on the blockchain.
Ethereum was initially described by Vitalik Buterin in late 2013, formally described by Gavin Wood in early 2014 in the so-called Yellow Paper and launched 30 July 2015. It is among a group of “next generation” (or “Bitcoin 2.0”) platforms.
The stated purpose of the Ethereum project is to “decentralize the web” by introducing four components as part of its roadmap: static content publication, dynamic messages, trestles transactions and an integrated user-interface. Each of these services are designed to replace some aspect of the systems currently used in the modern web, but to do so in a fully decentralized and pseudonymous manner. – Wikipedia