What is "ethereum"

Ethereum is a public blockchain-based distributed computing platform, featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), that can execute peer-to-peer contracts using a cryptocurrency called ether.

Ethereum was initially proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowd sale during July–August 2014. The Ethereum platform was officially launched at July 30, 2015, and is actively developed.

After a fork of the blockchain in July 2016 caused by a DAO being hacked and losing $50 million, there are currently two active Ethereum blockchains: Ethereum and Ethereum Classic. Ether from both is traded on cryptocurrency exchanges.