Ethereum is more than just a cryptocurrency. It’s an
open-source platform that enables Smart Contracts and
Distributed Applications. The platform enables users to write code (using the Ethereum programming language),
launch applications without third parties, and use Smart Contracts that are verified by the blockchain.
Ethereum is based on a whitepaper from a Russian-Canadian programmer Vitalik Buterin, published in 2013. He
wanted to build a platform for decentralized applications and claimed that Bitcoin needed a scripting language
to support app development. Since creating one for Bitcoin wasn’t an option, he created his own platform.
Ethereum was announced in January 2014. The all-time highest Ethereum price was $1,448.18. The platform is
about to switch to Ethereum 2.0 and replace mining (Proof of Work) with staking (Proof of Stake).