Ethereum is a decentralized system that is fully autonomous. It isn’t controlled by anybody. After Bitcoin, Ethereum has become the second-biggest cryptocurrency. Being an open-source blockchain, it features smart contract functionalities. Ethereum uses a blockchain, also known as the distributed ledger system for replacing web-based third parties that usually store financial and data records. As a distributed computing platform, Ethereum enables the formation of decentralized apps (dapps) and smart contracts. It is the programmable blockchain of the world that was launched in 2015.
Similar to other blockchains, Ethereum also has its native cryptocurrency known as Ether (ETH). Being digital money, ETH is completely digital, and it can be easily sent to anybody and anywhere across the world instantly. Since ETH is decentralized, its supply is not controlled by any company or government. People from all over the world use ETH for making payments, as collateral, or store of value. The Ethereum community has become one of the most active and biggest blockchain communities around the world. Since Ethereum is programmable, developers use it to create new types of applications.